How to Incorporate Insurance Planning with Advisory Clients
Every Dollar Counts with Josh & Jay
Release Date: 06/19/2024
How to Work with Jay & Providence Partners
Every Dollar Counts with Josh & Jay
In this episode, Josh Null and Jay Stubbs discuss Jay's experience and role at Providence Partners and Providence Benefits. Jay shares his personal story of how his father's passing and the importance of life insurance influenced his decision to pursue a career in the financial services industry, focusing on the risk management side. He explains his role as an intermediary and advisor to financial advisors, helping them navigate various risk management solutions for their clients. Jay also discusses the multidimensional approach of his firm, their mission to build strong relationships with...
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How to Work with Josh & GCFA
Every Dollar Counts with Josh & Jay
In this epsiode, Josh discuss why clients should work with his firm and what sets them apart, such as their fiduciary-based approach, years of experience, and ability to cater to clients who have built wealth through entrepreneurship or consistent saving. He also addresses how GCFA can be a good fit for financial advisors looking to go independent or find a succession plan. Enjoy the Show! 3 Key Episode Takeaways Josh Null, the owner of Gulf Coast Financial Advisors (an independent financial planning and investment management firm), discusses why consumers should consider working with his...
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Disability Income & BOE for Financial Advisor's Clients
Every Dollar Counts with Josh & Jay
In this episode, Josh Null and Jay Stubbbs share personal anecdotes and case studies to explore the potential impact of accidents and long-term disabilities on one's ability to work and earn an income. Josh and Jay highlight the significance of protecting income through proper insurance planning, especially for young professionals and those in high-paying, demanding jobs. The discussion also covers the underwriting process for disability insurance, considering factors such as physical and mental health, financial impact, and income replacement percentages. The speakers mention prominent...
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RIAs, IMOs, BGAs: What Financial Advisors Need to Know
Every Dollar Counts with Josh & Jay
In this episode, Josh Null and Jay Stubbs explore the complex world of financial services acronyms. Starting with an overview of their roles and backgrounds, they explain the various organizations and terms that industry professionals encounter. They discuss FMOs (Field Marketing Organizations), IMOs (Independent Marketing Organizations), and BGAs (Brokerage General Agencies) and how these differ from captive carriers. Josh and Jay also touch on related acronyms like RIA (Registered Investment Adviser) and IAR (Investment Adviser Representative), clarifying their nuances. They talk...
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How to Incorporate Insurance Planning with Advisory Clients
Every Dollar Counts with Josh & Jay
In this episode, Josh Null and Jay Stubbs delve into a step-by-step guide on how financial advisors can introduce risk management to their clients. The discussion is tailored for curious investors and industry producers, whether independent, semi-independent, or captive. Jay emphasizes using real-world "what if" scenarios to help clients understand the importance of risk management related to life insurance, disability income protection, and long-term care. They discuss practical strategies for advisors to engage clients and propose risk management solutions, highlighting the importance of...
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Making The Leap To Being An Independent Financial Advisor
Every Dollar Counts with Josh & Jay
In this episode, Josh and Jay dive deep into what it truly means to be an independent financial advisor. They discuss the pros and cons, highlighting the flexibility and comprehensive service offerings that come with independence. They also touch on the challenges of establishing a credible brand and building a supportive team around the advisor. Josh shares his journey from being a captive agent to an independent advisor, and eventually establishing Gulf Coast Financial Advisors. Jay emphasizes the importance of having a strategic plan, assembling a reliable team, and utilizing technology to...
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Re-Launch!
Every Dollar Counts with Josh & Jay
In this episode of Every Dollar Counts, hosts Josh Null and Jay Stubbs mark the podcast's return after a nearly two-year hiatus. They catch up on significant career changes: Jay is now an agency owner with Providence Benefits, and Josh has launched his own investment advisory firm, Gulf Coast Financial Advisors. The hosts announce a shift in the podcast's target audience to semi-independent, independent, captive agents, producers, and advisors. The episode delves into mutual support in their professional journey, emphasizing risk management solutions. Future episodes will explore...
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We're Living A Country Song
Every Dollar Counts with Josh & Jay
As Hank Williams Jr sang, "The interest is up, and the stock market's down.". In this Part 3 of a 3 part mini-series on current market conditions, Josh and Jay discuss the top of mind topic for most consumers right now, inflation. From home goods, construction materials, energy, groceries, transportation, fuel, gas, traveling, heck, even Chick-Fil-A, consumers are dealing with rising costs across a variety of goods and services. Some companies are combating that with what's called "shrink-flation" but even so, the inflation numbers being published are still at historic highs. The hosts...
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Bear vs Bull Markets
Every Dollar Counts with Josh & Jay
There’s an old investing saying: “Fortunes are made in bear markets and collected in a bull market”. In this episode, Josh and Jay discuss the difference between bear markets and bull markets, and why that matters to investors. The guys also discuss the impact of emotion on the market, particularly in the short run, and why that could potentially work in the favor of investors that look at fundamentals. What role does your investing strategy play into how you feel about current stock market conditions? Tune into this episode, then jump back to Ep 55 where we discuss how a investor’s...
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Fear of Missing Out (FOMO)
Every Dollar Counts with Josh & Jay
From “the next google” stocks, to penny stocks, stocks, meme stocks, or even crypto, there’s typically both social pressure applied to investors to not miss out on the next big thing, but also their own internal feelings of not wanting to “miss” out. This “Fear of Missing Out” or FOMO as it’s referred to, typically builds as a bull market is extended and certain investments possibly grow faster than their underlying value would dictate. In this episode, Josh and Jay discuss both fear of missing out, and discuss the difference between “gambling” versus utilizing a...
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In this episode, Josh Null and Jay Stubbs delve into a step-by-step guide on how financial advisors can introduce risk management to their clients. The discussion is tailored for curious investors and industry producers, whether independent, semi-independent, or captive.
Jay emphasizes using real-world "what if" scenarios to help clients understand the importance of risk management related to life insurance, disability income protection, and long-term care. They discuss practical strategies for advisors to engage clients and propose risk management solutions, highlighting the importance of timing, regular policy reviews, and support after the sale.
Josh and Jay also talk about the services offered by Jay's firm, Providence Partners, which specializes in risk management, life insurance, disability protection, long-term care, and annuities. They stress the value of having a dedicated specialist and the ease of the technology-enabled process for advisors and clients.
Listeners are encouraged to visit Providence Partners' website for further information or contact Jay Stubbs directly to continue discussing risk management strategies.
3 Key Episode Takeaways
1. The Importance of "What If" Scenarios:
- We emphasized how crucial it is to ask the right questions when discussing risk management. What happens if you can't work due to disability? What if you experience an extended healthcare event? This approach helps clients and advisors alike to think about protecting income and family dynamics in a meaningful way.
2. Choose the Right Time for Risk Management Discussions:
- Timing is everything! Whether you prefer addressing this in Q4, historically the prime time for insurance planning, or any other quarter, have a systematic approach. Make sure to periodically review and update any plans to align with current needs and market standards.
3. Leverage Specialist Support:
- It can be overwhelming to manage risk management on your own. That's why having a specialist like Jay Stubbs on your team can make all the difference. They bring in-depth knowledge and make the process seamless—from policy design to claims assistance.
Show Overview
02:28 Guide to introducing risk management to clients.
04:18 Adviser emphasizes importance of asking "What happens if?"
08:11 Insurance services and risk management strategies overview.
09:50 Secure data collection and approval process simplified.
16:10 GCFA podcast shares general information; not personalized advice.
17:20 J Stubbs COU, Chartered life underwriter, licensed in 6 states, and offers financial services.