Make April 15 Your Ally For Year-Round Sales Success
Some agents did very well selling IRAs and related products this past tax season. Others did not.
Whats the difference between those who succeeded and those who fell short of their goals? A winning smile, great closing skills, natural sales ability or just good luck?
None of the above. Success results from having a system you follow rigorously. This isnt a theory. Its something we observe among thousands of agents registered to sell securities.
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The greatest obstacles to making sales and helping clients plan for the future are inertia and procrastination. People know they must invest for the future. They vow to get around to it “sometime,” but tomorrow never comes.
April 15 is your best tool to combat procrastination. Its an inflexible government-imposed deadline. If you want to set up a new IRA or fund an existing one for the previous tax year, you have to do it by then, no excuses. The date provides a sense of urgency.
To take advantage of tax season, get going early. January is too late to start. Instead, start in November. Go through your client list and identify all those who have an IRA and all those who dont. Get all your preparation work done in December so that on Jan. 2 you can go to your office and start mailing letters and calling people.
Send letters to all your clients without an IRA reminding them that they have until April 15 to set one up and potentially get a tax deduction. Despite the limits on deductibility, many people still can get a full or partial deduction for their contributions. For those who cant get a deduction, a Roth IRA is an unbeatable choice.
Weve found that the most effective letters take a soft approach. Example: “Its tax season. There are a lot of things we should discuss before April 15. Please call me so we can set up a time to meet.”