Insurance Agent Forum

[MoneyManager]

OK... I hesitated to post on here because I did not want to be perceived as a spammer. However, if I could show you something that would be a new source of revenue, would put your pipeline on steroids, and would help your clients free up more revenue for investing... would that be spam... or filet mignon?

I have several agents in my team that are already using this to build their pipline.

It directly correlates to YOUR business

It can be used to go back to current clients, help them free more $$ for investment, and shake loose some fresh referrals (are not our current clients the best source of new ones?).

SO... I dearly hope you do not judge me a spammer... but instead a welcome server of fine gourmet delights.

A mind only works... when open.

WEBINAR today (2/25) at 4:00 PM est.
Connections info and more info: http://www.u1stfinancial4u.com
(more webinars posted there if you missed this one)

On site: go to Central Florida seminars and WEBINARS for info on how to connect.

Call or email me with questions:
407-275-2956 copening@atlantic.net :lol:

[healthagent]

We're not fans here of people who have never posted coming in and trying to create revenue for themselves - especially when details aren't given. You are welcome to post explicit details about what you're offering or I'll just delete this post.

[MoneyManager]

See... I was afraid of that reaction. I hesitated to post the specifics because it would take up SO much room... and I was afraid that would be more offensive than posting the bare minimum and giving folks the resources to look it up themselves.

But the specifcs (in a nutshell - I will condense as much as possible) are this...

1/3 of all mortgages in the UK, Australia and Europe are based on a CAM (or current account mortgage). They pay about 1/3 to 1/2 of the interest than we do. That exact concept is unavail to us here in the US because of US banking laws.

United First Finanical has devised an ingenious work-around solution to affect the same result as a CAM using 2 accounts and a software program to manage them (they actually sell the financial software).

It accelerates paydown of the mortgage... builds equity faster.

It is being represented by Finanical professionals, Insurance agents, Realtors and Mortgage brokers (for the most part), and is...

A great prospecting tool
A way to help a client free up more equity (and or cash for investment)
A source of income not tied to real estate and/or investment trends

To explain the math of the acceleration would require more room here than is avail (and I assume that would be offensive to use that much forum space?). But anyone can come to a pretty solid conclusion that if 1/3 of all mortgages in the countries mentioned (for 10 years or more) are based on that concept... that the concept itself is sound.

I have provided (and happy to provide more) resources for anyone wishing to know the particulars, the math, and how the software works. I just hesitate to spew it all forth here, as not everyone would be interested, and it would come across as too sales-ey...

http://www.U1stFinancial4u.com
(there is a video on the corp site)

And of course... the Webinar I mentioned before.

I imagine everyone using these posts had to make the decision to take the time to educate themselves in order to reach the level of professionalism they are at. Licensing requirements, compliance issues, product knowledge. They probably took the time to learn about many products ..the ones they decided to represent, as well as ones they did not find appropriate for their business/client base.

Is it their decision to make the investment of their time to stay up on trends and products in their industry... or do you make that decision for them? I CERTAINLY understand your wanting to control information and dialoge on the forum - especially if it is something NOT related to the topics of the forums. But this is directly related to the industry (Insurance/financial planning).

I am happy to provide the knowledge to anyone interested... I teach tax law normally... and find the math that drives this... while pretty sophisticated... is actually clear and simple once the concepts are grasped.

I apologize if I did not present the offer in the way that is expected. I am new here.... and incorrectly perceived the General topic forum as being more wide open.

Hope this helps?

MM
407-275-2956
copening@atlantic.net

[healthagent]

And the cost of this would be......

[al3]

There is no magic here. It's a $3500 piece of software coupled with a home-equity line of credit to use a 'float' to pay down a mortgage.

This product has nothing to do with insurance. It uses a modified MLM methodolgy for payment of agents... not all that different from insurance overrides, etc.

I've not looked at the sofware nor worked the numbers. However I read the links below and this does not pass my 'smell test.'

If nothing else I think the OP is recruiting and if I were running this board, I'd make him well aware that this is not the purpose of the forum.

Al


http://tribes.tribe.net/moneymergeac...c-9352cae01355

http://www.brokeruniverse.com/grapev...?thread=345085

http://forum.brokeroutpost.com/loans/forum/2/95315.htm

[MoneyManager]

Software is $3,500. license... transferrable up to 5 primary residences at no additional cost. Extra $500 set up for for real estate investors for each additional property (this is as of Feb '07 if anyone reads this later).

Money back guarantee (Client gets a detailed financial analysis showing how much they will save in interest and when they will pay off) - software is guaranteed to perform as good, or better than the Analysis.... or money refunded.

Upgrades to software are free. Two upgrades added this month. 2 more slated in April '07.

It actually cost most clients $0 out of pocket to get on this program... as software cost just comes out of HELOC.

Also... those with credit card debt actually free up so much money (%) by rolling credit card debt into HELOC... that alone can pay for the software.

Company keeps $1000 per program... the rest goes back to agents in the form of commissions, over-rides, and bonus pools (one agent I met used to be with Traveler's insurance and said commission model was almost identical.

Here is the payoff info for one of my clients...

Mortgage: $128,788.
Mtg Pmt: $1,104.
Program cost (out of HELOC): $3,500
(no credit card or other debt)
Interest: 8%
Heloc interest: 9%
Months left on primary: 342
Net income: $2,520. mo.
Monthly fixed expenses: $1104. mo.
Discretionary: $500 mo.

Pay off ALL debt (including HELOC and program cost): 10.9 years
Interest saved: $135, 457.12
Effective interest rate achieved: 2.912%
(this is everything... primary, heloc, mma program cost)

Future value of mortgage payments saved:
$1,104. x 211 (no of months not paying mtg) =

$410,198.37 at 4%
$617,104.29 at 8%

One of the things the Analysis does is show the client where they would be in 30 years...

Option 1 - Pay off mortgage, deed in hand
Option 2 - Pay off mortgagge plus $x,xxx. in investment/bank

There are different invesment mindsets as we all know. My father was conservative and paid down the mortgage by half before he started investing.

Some folks want the home free and clear... then they invest every penny after.

Some folks just want to find the tipping point and keep everything leveraged.

The software helps with it all.

MM

PS: The folks have to have good enough credit to get a HELOC. Most banks need between a 560 and 620 minimum score, depending on the other variables such as equity and income to debt ratio. Washington Mutual told us they will do as low as 560 if other two factors are in line.

I read somewhere recently that the average US fica score was in the 600 range for 70% of the population. This is pop as whole... I would guess that among homeowners (rather than renters), that scores would tend to be higher. I have not researched that issue.

Got to sign off... have errand to run before WEBINAR at 4:00.

Hope to hear you on the call.

MM

[healthagent]

So you have to cough up $3,500? Lol - I don't have to delete this, and good luck with that.

[MoneyManager]

You see.. that is why this program needs to have the math concept explained.

Get real. Do you think if you asked a client ...

"If I could refinance your mortgage... get you a 3% interest rate, rather than 8%, and save you $100,000, $200,000 (or more) in interest... BUT it has points and/or closing costs of $3,500. that they would say "NO?"

Again... 1/3 of all home loans in the UK, Australia and Europe are this concept... and cost less than HALF the interest of loans in the US.

Do you really think that would be happening if the math did not work?

Come on... get a clue!

As I said before... minds only work when open.

By the way... the company sold over 1.4 million dollars in these software programs THIS month so far (Feb '07).

There are a lot of open minds out there.... maybe some of your clients might have one?

MM

PS: The biggest selling point of this software program... is that all this savings and equity building happens withOUT the client changing the way they spend their money... or their standard of living. This is a big plus for people that have very little money left at month end.

Client LOVE this program so much... that we are finding that every program sold results in 1-4 referrals. Are YOU getting that kind of referral return from your clients?

Wouldn't you like to?

[al3]

Originally Posted by MoneyManager

Client LOVE this program so much... that we are finding that every program sold results in 1-4 referrals. Are YOU getting that kind of referral return from your clients?

Wouldn't you like to?

Where have we heard this kind of language before?

Typical MLM recruiting spam. Please ignore him and maybe he will go away.

Al

[MoneyManager]

Please Al...

Do you think it is kind, and professional to make disparaging jibes like that?

I have been in real estate, insurance and financial fields for years.. and the thing that always made me succesful was that I took care of my clients. Is this not what you do?

Because of that I could survive through the lean times ...in large part because of their referrals.

I mentioned the referral aspect ONLY by way of saying that we had HAPPY clients. Also... the relationships built with clients is part of why this product works as such an excellent sales tool for your business in general.

Not ALL of your clients are going to be appropriate for this program. And, as an ethical professional, you would only present it to the ones that are. BUT... when you put it in front of someone that it works for... AND you save them lots of money... free up more money for them to invest... they WILL love you for it ...and I would suspect you will be the receipient of referrals to their friends and associates... whether for THIS... or for any of the other products you represent.

But Al... It is not fair to take one little thing out of context and twist it to make it look bad.

I am sure... that if you are successful at what you do... and if your clients like you and feel you have their best interest at heart... that YOU get client referrals?

Does that make you, or your business, shady in any way?

Of course not.

******* But I will go away now.... got work to do and now running late!

MM

[STIBROKER@AUSTIN.RR.COM]

Originally Posted by MoneyManager

Come on... get a clue!

Ok......now what......

[MoneyManager]

One quick little thing....

Yes this IS directly related to your business!

Look at the big picture.

I teach tax law / tax strategies for the self employed. I am often asked to speak for financial professionals and insurance industry professionals.

Why?

Because one is directly tied to another!

If a self employed person can pay less income taxes by educating themselves on deductions they are entitled to take... they free up more money for themselves.

This money goes somewhere... but savvy people invest it.

There are some great annuity products out there... insurance products that are also investment vehicles?

You are an advisor for your clients. Would you not agree that helping them with their overall financial picture is directly tied to your success?

MM

PS: And "smell test" is just another way of saying "preconceived idea" ... would you not agree that professionals do not pre-judge... they do their research and form an educated opinion. If someone has not looked at the math on this... they cannot intelligently decide if it passes their muster.

[salpro22]

Originally Posted by MoneyManager

One quick little thing....

Yes this IS directly related to your business!

Look at the big picture.

I teach tax law / tax strategies for the self employed. I am often asked to speak for financial professionals and insurance industry professionals.

Why?

Because one is directly tied to another!

If a self employed person can pay less income taxes by educating themselves on deductions they are entitled to take... they free up more money for themselves.

This money goes somewhere... but savvy people invest it.

There are some great annuity products out there... insurance products that are also investment vehicles?

You are an advisor for your clients. Would you not agree that helping them with their overall financial picture is directly tied to your success?

MM

PS: And "smell test" is just another way of saying "preconceived idea" ... would you not agree that professionals do not pre-judge... they do their research and form an educated opinion. If someone has not looked at the math on this... they cannot intelligently decide if it passes their muster.

A good start would be to reference the guidelines, laws, etc. about the idea so people can research the topic. It sounds like you want people to pay $3500 to buy a software program that illustrates what-if scenarios. Excel is a less expensive alternative.

[healthagent]

The software is how the people at the top make money regardless if anything gets sold.

So instead of my focusing on hiring agents and worring about them actually turning in business I just sell the Assurant software for $1,000 instead.

I tout the software as a way to make countless thousands and it pays for itself with just two deals written. After all, isn't $1,000 investment in Assurant software worth it? And didn't it cost Assurant hundreds of thousands to design it?

Hmmmm....I get all my sofware from insurance companies for free. I'd never pay a dime for software not a dime upfront for any "opportunity." If it stood on it's own legs it would be free.

So what's the real truth here? You couldn't convince clients to do this to save your life which is why they count on suckers to buy the software.

I'm certainly glad my income doesn't depend on finding pigeons to fork over $3,500. Again, if it's that great and signing clients up with this is rather easy then why not give the software (like every insurance, finance, and mortgage company on the planet does) to reps for free?

I wonder how many agents United Healthcare would have if they charged $3,500 for the software and "opportunity."

[al3]

And "smell test" is just another way of saying "preconceived idea"

"Preconceived," my ass. I did the research and posted the links. Bottom line it is exactly as John P. said. You are selling a highly over-priced financial 'tool' that no one needs in order to 'do' your system. You system is basic and simple and done in the UK for years.

We're not stupid. We know the $3500 all goes to the upline while the company probably gets a nice kick from the financial institutions where the HELOC accounts are opened. What is THAT fee... and where does it go?

Your product has zilch to do with the charter of this site. You can spin this any way you want, but you came here to spam this group. You know it, I know it, and everyone's UA hating dog knows it.

As for your claim that you teach tax law... ok where? Identify yourself and let us verify your credentials.

Al

[policy doctor]

This past week I have heard of these "loans" like 3-4 times.

A financial planner show "the Ray Lucia" show on business talk radio refers to them as "green Loans' and another one calls them the "money merge" concept. Just google these terms and see what pops up.

Here is a link to a pitch I got this week:

http://www.cmgfs.com/partner/ Kind of a twist on "infinite banking concept"

[midwestbroker]

Wasn't there a post along these lines about saving people money, but the software was at no charge or only about $20?

Where you put all your debt into it and the software tells you what to pay first and how much...

Of course, you could always just listen to Dave Ramsey (has a radio talk show about getting out of debt) and get the info for free, or go to his seminar for $40 when he is in your town.

[somarco]

http://cwts.com/

Follow the links. US version $34. Pro edition $89.

[midwestbroker]

Does anyone here offer their clients something like that?

Rather, does anyone market other products other then insurance related items?

I have not messed with anything of the sort, but I have gotten offers to market reverse mortgages, but I have not done anything with them.

[healthagent]

Imagine you're finished with your doctor appointment and before you leave he says "Hey, I'm also a mortgage broker and....."