William Johns is a hybrid adviser with dual qualifications in Health/Disability and Financial Planning. He’s knowledge and experience on insurance policies and in particular insurance claims is as deep as it is wide, which made him the best person to dive into today’s topic.

In this session, William took us through:

• The differences between Group and Retail cover;
• Quantitative vs qualitative characteristics of insurance policies
• The differences in policy definitions amongst providers which advisers need to look out for (William dissected some definitions from PDS’ from real providers)

Some great questions came through the chat box which William gave some great answers to:

Wayne Elliot asked: William, do you use ‘tele-underwriting’?

Scott Taylor asked: What insurers can you suggest have the best quality definitions? (or most of – as I am sure they all have their weaknesses)

Luke Hanson asked: On the qualitative side, let’s take MLC for example and we know they are difficult to deal with. If on the quantitative side they look good (eg Xplan risk researcher) & price, what notes would you put on your file to justify not recommending.

Check out William’s XY profile HERE

Check out William’s LinkedIn HERE

Check out the Claim Right website HERE

This session centred around five key principles an adviser can begin implementing now to start engineering more freedom in their business.

But what does ‘freedom’ mean? It can be whatever you want it to be – the freedom to actually take and switch off on a holiday. The freedom to get out of the boring and mundane compliance tasks and focus more energy on creating educational content and building deeper connections with clients.

The slides for this session HERE

The worksheet from this session HERE

And here’s the nutshell version of the five principles Steve discussed:

#1 Play it your way – “He or she who makes the rules wins the game”. This is YOUR business, own your calendar. Set the rules in how you want to operate, when you book in meetings and when you schedule time for focus work.

#2 Theme your days – Splitting your time into focus days, buffer days and free days. Think about a professional athlete. They have competition days (focus), training days (buffer days) and recovery days (free days).

#3 Project- then protect – Pre-schedule time off in your calendar. It might be a long weekend three months from now or one day off a month. Once you’ve scheduled that in, be ruthless in keeping it there. It also becomes something to look forward to.

#4 – Freedom first – When you’ve got the first three principles humming, you’re able to take back control of your schedule and how you plan your weeks.

#5 – Dump the trash – find the magic – Handoff the ‘hand’ tasks that aren’t client-facing, revenue-generating tasks. Find a VA to do your file notes, filing, calls to Centrelink or superannuation companies.

Connect with Steve in the XY platform HERE

Check out Steve’s Linkedin HERE

A big thank you and virtual high five to Chris Carlin and John Cachia. Two XY Advisers (and total legends) joined us live in yesterday’s XY+ web event to take us through how they are engaging and delivering advice to younger millennial clients. This session really ignited off the back of a super popular discussion on the platform talking about exactly this – engaging millennial clients.

Chris and John were super open and willing to share. They ran us through their value proposition, how they actually bring on younger clients into their business and what those meetings look like?

We ran through their business model, the types of fees that they are charging, how much they’re charging, how they’re positioning those fees with clients and how they’re articulating the value of their advice. We went through their business process, to really understand how they can deliver that advice while continuing to build a sustainable practice.

We also touched on fee sensitivity and how both Chris and John approach this when clients or prospects are turned off by the cost of advice. A great discussion and a healthy dose of peer-to-peer learning.

John’s XY Profile
Chris’ XY Profile
Chris’ website – Master Your Money Now