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March 31, 2015 at 05:52 AM
We must do the best job we can for our prospects and clients. Having quality information and staying current are vital to providing superior advice to our clients. But we can’t read everything! So how do we get the most bang for our buck — and make sure that the information is reliable?
To help you cut through the noise, I have compiled a list of people whom I refer to regularly. They keep me informed with information about the economy, Social Security, health care, the markets, government and insurance. These experts keep me armed with the important and up-to-date information I need to provide the best ideas and strategies for my clients.
Even though these names will appear in a certain order in this column, their importance varies as needed by my prospects and clients. This list should be used as a starting point to compile your list of experts. It will increase your knowledge and your professionalism dramatically.
My list begins with Ed Slott, the IRA guru. Ed is an accountant who explains that the most important benefit in our tax code is the tax exclusion for life insurance cash values and death benefits if the policy is established correctly. I attend his meetings whenever possible, I watch him on public television, I read everything that he publishes and I purchase all of his books, CDs and DVDs. His importance to our industry is immeasurable. His information and advice are vital to my practice.
Tom Hegna, the annuity and retirement expert, also provides tremendous value to my practice. I have all his books and media. And I read and save every article he writes. He helps me provide successful retirement solutions for my clients.
For Social Security expertise, I start with Mary Beth Franklin. Her books and column provide the knowledge I require to provide valuable advice. I also depend on Boston University economist Laurence J. Kotlikoff. He is considered to be one of the premier experts for maximizing Social Security benefits, and his knowledge about the “fiscal gap” — the unfunded liability for Social Security, Medicare and all other government and private pensions — is vital. Kotlikoff calculates this gap to be over $210 trillion!
