Optimized Advisor Podcast

In this episode, Scott Heinila welcomed Michael Stapleton in studio for a discussion about AI and insuretech. Michael is the CEO & Co-Founder of Leopard, an AI-powered B2B insurtech startup that helps life & annuities distributors identify revenue opportunities in their existing books of business. Prior to Leopard, Michael was VP & General Manager at Policygenius, overseeing the company's B2B offering. He spent time as a management consultant at L.E.K. Consulting and earlier in his career served in B2B SaaS head of marketing roles. Michael holds a BA from Reed College, an MBA from HEC Paris, and a Master’s of Advancement Management from Yale.

In this episode you will learn the following: 

1. What Leopard is and how it helps optimize revenue opportunities for life and annuity distributors. 
2. Michael shares his career journey, highlighting his various educational and professional experiences, including his time at PolicyGenius, where he was involved in B2B offerings and strategy. He discusses how these experiences led to the founding of Leopard.
3. Inefficiencies in the insurance industry, particularly in managing existing policies and identifying client opportunities. Leopard seeks to address these issues by using AI to streamline data organization, policy management, and client engagement, offering a more efficient process for advisors.
4. The broader implications of AI in the financial industry, emphasizing its potential to improve efficiency and free up advisors' time for higher-value activities. Michael outlines his vision for Leopard's future, aiming to create a comprehensive data and automation ecosystem that benefits all stakeholders in the life and annuities distribution process.

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This is the Optimized Advisor Podcast, where we focus on optimizing the wellbeing and best practices of insurance and financial professionals. Our objective is to help you optimize your life, optimize your profession, and learn from other optimized advisors. If you have questions or would like to be a featured guest, email us at [email protected]

Optimized Insurance Planning

Scott was joined in studio by Katelyn Kucharo, Founder & CEO of The Admin Effect. They discuss how The Admin Effect optimizes financial advisors and insurance professionals' practices. Katelyn Kucharo is the founder of The Admin Effect™, a company dedicated to empowering operations professionals in the financial services industry. With a background in competitive gymnastics and coaching, Katelyn's passion for uplifting others has been a driving force throughout her career. She began her professional journey working for a large insurance marketing organization, where she gained extensive experience in various roles, including contracting and licensing, new business case management, and sales. May 23, 2020, changed Katelyn’s life forever. Her best friend since birth, Sara, passed away at the age of 30 from cancer. Sara’s passing gave Katelyn the courage to leave the corporate world to launch The Admin Effect™. Katelyn’s desire to provide operational support to top financial advisors, her deep industry knowledge, and dedication to empower others, created the foundation for her company. Katelyn resides on beautiful Lake Norman in Cornelius, NC, and enjoys boating, traveling, wine, and fine dining.

In this episode you will learn the following: 

1. The Admin Effect began by offering virtual administrative services to advisors and quickly expanded through word of mouth, highlighting a demand for outsourced operational support in the financial sector.
2. The company offers training and process improvement to advisors' teams, emphasizing the importance of understanding complex applications and improving efficiency within advisor offices.
3. Kaitlyn shares personal motivations for founding The Admin Effect, driven by a desire to create positive work environments and help advisors optimize their operations.
4. The Admin Effect is expanding its services to consult with insurance carriers, aiming to connect industry dots and improve processes from an advisor's perspective.

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This is the Optimized Advisor Podcast, where we focus on optimizing the wellbeing and best practices of insurance and financial professionals. Our objective is to help you optimize your life, optimize your profession, and learn from other optimized advisors. If you have questions or would like to be a featured guest, email us at [email protected]

Optimized Insurance Planning

Scott was joined by Dr. Naomi Win virtually for a discussion on behavioral finance and how psychology plays into financial decision making. Dr. Win draws on clinical practice and current research to clarify the psychological factors that shape decision-making. By mapping the cognitive and emotional drivers that define financial behaviors, she upskills those seeking adaptive strategies to enhance well-being and wealth.

In this episode you will learn the following:
1. The importance of understanding clients' emotional responses to financial matters.
2. The role of ego in financial advising.
3. Intolerance of Uncertainty
4. Ways for advisors to enhance their empathy and communication skills.
 

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This is the Optimized Advisor Podcast, where we focus on optimizing the wellbeing and best practices of insurance and financial professionals. Our objective is to help you optimize your life, optimize your profession, and learn from other optimized advisors. If you have questions or would like to be a featured guest, email us at [email protected]

Optimized Insurance Planning

Scott was joined by Brad Shepard for a virtual episode about Long-Term Care. Fall and the Holidays will be here before you know it and November is LTC Awareness Month.

For the past 24 years, Brad has enjoyed an area of focus in selling, training and marketing Long-Term Care and Linked Benefit solutions. His current role, Regional Sales Director, with OneAmerica is to help distribution partners, advisors and agents develop and grow their Long-Term Care Planning business through extensive business planning, marketing, training and support. He has also been a speaker, on the topic of Long-Term Care Planning, at hundreds of educational seminars, workshops and webinars across the country.

Brad is a Pennsylvania native and a graduate of the University of Pittsburgh. He resides in New Bloomfield, PA with his wife, Denise, son Logan, and daughter Linsay.

In this episode you will learn the following:

1. LTC Awareness: November is LTC Awareness Month, not to be confused with Long-Term Care Insurance Awareness Month. The focus is on planning and awareness of long-term care needs, especially relevant during family gatherings in the holiday season.
2. Pension Protection Act (PPA): The PPA, effective since January 1, 2010, allows for the tax-free distribution of gains from non-qualified annuities if used for long-term care expenses. Despite its benefits, it remains relatively unknown among financial professionals.
3. Tax Benefits and Plan Design: The PPA allows for tax-deferred gains within non-qualified annuities to be used tax-free for LTC. This involves a 1035 exchange to a PPA compliant annuity, potentially doubling or tripling the annuity value for LTC benefits, providing significant financial leverage.
4. Client Examples and Practical Applications: The discussion includes real-life examples and practical advice for advisors on how to leverage non-qualified annuities for LTC planning, emphasizing the importance of educating clients about these tax advantages.

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This is the Optimized Advisor Podcast, where we focus on optimizing the wellbeing and best practices of insurance and financial professionals. Our objective is to help you optimize your life, optimize your profession, and learn from other optimized advisors. If you have questions or would like to be a featured guest, email us at [email protected]

Optimized Insurance Planning

Scott Heinila welcomed Jason Labrum back to the studio for a discussion on Intelligence Driven Advisers (IDA) holistic and integrated approach to financial planning, which includes in-house CPAs for tax planning, the complexities of annuities, and they share their personal philosophies and lifestyle choices that contribute to a fulfilling life.

Jason has been helping individuals, families, and businesses with comprehensive financial planning, portfolio management, and business retirement plans since 1998. Jason founded Intelligence Driven Advisers (IDA), in 2009 after spending 12 years with two major Wall Street brokerage firms. Jason has been active in his community serving on the Board of Directors at the Boys & Girls Clubs of Carlsbad and Daybreak Community Church. In 2015 he launched Financial Detox®, a consumer advocacy brand with the mission of delivering transparent and simple financial education to the masses. Jason is the author of Financial Detox® published in 2018 as well as a radio show and podcast which can be accessed on any podcast medium. Jason has contributed to the following publications; Fox Business, CNBC, Forbes, Newsmax Finance, and Investor’s Business Daily. When not pursuing his professional endeavors, Jason spends time with his family and enjoys everything active and outdoors.

In this episode you will learn the following: 

1. IDA’s philosophy on financial planning
2. Navigating Annuities: Skepticism, Benefits, Rates, Renewals
3. The importance of Financial Advisors to prioritize the client’s best interests.
4. Jason & Scott’s thoughts on well-being, time optimization, balancing work and life, quality relationships and more. 

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This is the Optimized Advisor Podcast, where we focus on optimizing the wellbeing and best practices of insurance and financial professionals. Our objective is to help you optimize your life, optimize your profession, and learn from other optimized advisors. If you have questions or would like to be a featured guest, email us at [email protected]

Optimized Insurance Planning

Scott invited David Buck to join the virtual studio for the latest episode to discuss David’s philosophy on time management, emphasizing the proactive nature of "time optimization" over the reactive concept of "time management."

In 35+ years of business development, David developed a strong awareness of what it took for people to be productive and efficient, not just busy. He also personally sought to gain a balance of having a successful career along with the ability to pursue a meaningful personal life.

That led David to start Kairos Management Solutions, and then the Infinity Lifestyle Design program, focusing all his attention to guide business professionals who struggle with a lack of flexibility in their life to gain more quality personal time. Dave helps his clients craft a strategy around their current management of time, and then define a lifestyle of intention, ease, and joy.

In April 2024, David will release his first book called, The Time Optimized Life. The book reframes the reactive nature of time management and replaces it with a proactive method of time optimization.

In this episode you will learn the following: 

1. David Buck's Background
2. Time Management Philosophy
3. Client and Advisor Work
4. Practical Tools and Book Buck's book, "The Time Optimized Life,"

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Order The Time-Optimized Life click here

Download and work through the Life Purpose Statement click here
Download the first chapter of The Time-Optimized Life click here 

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This is the Optimized Advisor Podcast, where we focus on optimizing the wellbeing and best practices of insurance and financial professionals. Our objective is to help you optimize your life, optimize your profession, and learn from other optimized advisors. If you have questions or would like to be a featured guest, email us at [email protected]

Optimized Insurance Planning

Scott welcomed Jay Rosencrance, RICP, WMCPin studio for a discussion on annuities and the history of Athene. Jay is the VP/Relationship Manager at Athene. 

Jay the VP/Relationship Manager for Athene covering accounts across the country. He has spent bulk of his 32 year career involved in retirement income planning. Prior to Athene, he worked at Genworth Financial as VP, Sports and Entertainment, where he worked on post career income planning for professional athletes. Before that, he was a Master Black Belt at GE Transportation Systems. He finds that wherever he has worked, he bring three key strengths to the table: strong interpersonal skills (team player), detail oriented with strong analytical and problem solving skills, and the ability to succeed through a strong work ethic. When not working, he loves to spend time with his wife of 32 years (Amy), and their 2 children (Sean - 25, and Erin - 22). He also enjoy running, and has completed 10 marathons.

In the episode, you will learn the following:

1. The Athene story – Innovative products, distribution channels
2. Athene's technological advancements, such as e-applications and index strategy presets, which streamline processes and benefit consumers.
3. Planning strategies like partial Roth conversions, emphasizing tax benefits and the mechanics of recharacterizing traditional IRAs into Roth IRAs within Athene products.
4. Athene Connect is a valuable resource for advisors, offering tools, webinars, and sales kits to enhance their practice and better serve clients.

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Disclosures:

Guarantees provided by annuities are subject to the financial strength and claims paying ability of the issuing insurance company.

Any information regarding taxation contained herein is based on our understanding of current tax law, which is subject to change

and differing interpretations. This information should not be relied on as tax, legal or financial advice and cannot be used by any taxpayer for the purposes of avoiding penalties under the Internal Revenue Code. We recommend that taxpayers consult with their tax or legal professionals for applicability to their personal circumstances. Under current tax law, the Internal Revenue Code already provides tax deferral to qualified money, so there is no additional tax benefit obtained by funding a qualified contract, such as an IRA, with an annuity; consider the other benefits provided by an annuity, such as lifetime income and a Death Benefit.

Required Minimum Distribution as defined by Internal Revenue Code Section 401(a)(9).

A diversified allocation does not ensure positive interest credits in any given year.

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This is the Optimized Advisor Podcast, where we focus on optimizing the wellbeing and best practices of insurance and financial professionals. Our objective is to help you optimize your life, optimize your profession, and learn from other optimized advisors. If you have questions or would like to be a featured guest, email us at [email protected]

Optimized Insurance Planning

Scott welcomed Brian Ott to the studio along with Nick Bernatowicz to discuss the importance and intricacies of long-term care (LTC) planning. 

Brian Ott, RICP, CLTC, is founder and president of 525 Advisors LLC, an independent insurance agency that specializes in asset-based long-term care insurance planning. He is also the host of Long-Term Care Radio which is aired in multiple markets and produced as a weekly podcast. Brian has been recognized nationally as a top producer and continues to build his practice through marketing focused on education.

In this episode you’ll learn the following: 

1. Specialization in Financial Services: The conversation highlights the value of specialization in financial advising, comparing the resurgence of specialized shops like butchers and cheese stores to the need for specialized financial services.
2. Challenges with Long-term Care Insurance (LTCI): LTCI is often avoided due to its complexity and the reluctance of advisors to have personal, emotionally charged conversations. The history and evolution of LTCI from the 1970s to now were discussed.
3. Affluent Clients & LTCI: The discussion explores why affluent clients, often overlooked for LTCI, actually benefit from it due to leverage, tax savings, and efficient asset management. The concept of "asset-based" LTCI is emphasized as a better self-insurance method.
4. Education and Awareness: Brian Ott stresses the importance of educating both advisors and clients about LTCI, noting that personal experiences with long-term care often drive interest and understanding of its value.

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This is the Optimized Advisor Podcast, where we focus on optimizing the wellbeing and best practices of insurance and financial professionals. Our objective is to help you optimize your life, optimize your profession, and learn from other optimized advisors. If you have questions or would like to be a featured guest, email us at [email protected]

Optimized Insurance Planning

In this episode, Scott welcomed Paul Garofoli to the studio to discuss annuities. Paul Garofoli, Annuity Regional Sales Director for the Standard, has a 40-year career touching upon all aspects of our industry, especially independent distribution. Nicknamed the “Annuity King,” his enthusiasm is legendary. A nationally recognized speaker, Paul is known for his entertaining presentations.

Most recently, Paul was the recipient of the NAILBA ID 20 Award, honoring a diverse group of insurance professionals who are the most fascinating trailblazers, change-makers or architects shaping the future of independent distribution.

1. Annuity Market Dynamics: Paul highlights the recent surge in the annuity market due to rising interest rates and increased acceptance of annuities as a valuable asset class by various financial institutions and the general public.
2. The Standard's Offerings: The Standard provides diversified financial products including group insurance, disability insurance, retirement plans, and annuities. Notably, they offer annuities up to age 93 and are Medicaid-friendly with unique features for elder care.
3. Enhanced Choice Index Plus: This new product suite includes multiple S&P 500-based indices and a proprietary index, offering competitive rates and a unique death benefit rider (Legacy Max) that compounds at 6%, providing substantial legacy benefits.
4. Consumer-Centric Features: The Standard's annuities come with consumer-friendly options like full account value upon death, spousal continuation benefits, and options for beneficiaries to manage the death benefit in a tax-efficient manner.

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This is the Optimized Advisor Podcast, where we focus on optimizing the wellbeing and best practices of insurance and financial professionals. Our objective is to help you optimize your life, optimize your profession, and learn from other optimized advisors. If you have questions or would like to be a featured guest, email us at [email protected]

Optimized Insurance Planning

Part 2 with Lara Galloway: 

In this episode Scott was joined by Lara Galloway virtually to discuss building trust and emotional connection in the seminar marketing world.  At the time of recording, Lara was the SVP of Channel Management at White Glove, where she leveraged her expertise in Business Development, Marketing, Product and Sales to build enterprise partnerships that offer financial advisors lead-generating workshops and nurturing programs to keep them in front of their clients and prospects. Now, Lara is the Chief Marketing Officer at Goldstone Financial Group.

Her entrepreneurial background and 12-year tenure running her own coaching firm, where she provided advice and consulting to small business owners, make her a valuable coach to White Glove's employees and clients. In her free time, Lara enjoys baking, craft beer, hiking with her husband and kids and spending time with her dog, Tuck.

In this episode you will learn the following:

1. The significance of connecting with clients on an emotional level, understanding their needs, and building trust through education and rapport.
2. Best practices for both physical and digital workshops, highlighting the value of engaging the audience, asking questions, and using polls to foster interaction.
3. The upcoming wealth transfer from boomers to Gen X and women, emphasizing the need for advisors to adapt their approach to connect with these demographics.
4. The role of ongoing communication, such as drip campaigns and social media content, in nurturing client relationships and staying top of mind.

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For more about White Glove click here

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This is the Optimized Advisor Podcast, where we focus on optimizing the wellbeing and best practices of insurance and financial professionals. Our objective is to help you optimize your life, optimize your profession, and learn from other optimized advisors. If you have questions or would like to be a featured guest, email us at [email protected]

Optimized Insurance Planning