DOL ruling got you down?

If you’re like a portion of the advisors we work with, the confusion surrounding implementation of the DOL’s notorious ‘Fiduciary Rule’ has had an impact on your revenue goals for 2017. The question isn’t whether or not the DOL ruling will be implemented in its current form, or at all for that matter. The ‘damage’ to your production this year has already been done. So, now  what’s done is done, the question becomes what will you do to make up for the lost revenue? Hope the rule get’s squashed by the new administration? Removal of the BIC requirements? These passive approaches, in our opinion, are a surefire way to come up short of your goals for this year.

One way our most successful advisors are altering the course of their 2017 is to change up the

annual review process with their clients. Interrupting the pattern of a meeting is crucial to make sure a client is a) paying attention, and b) is ready to hear new ideas. Our clients have long been trained to expect an annual review to be an hour long meeting of talking about how well fund ‘X’ did versus the S&P, or what we expect to see out of the markets for the next 12 months, or filling out a distribution form for their RMDs, etc.

The advisors who are Trusted Consultants challenge their clients every time they have the opportunity. Sure, they’re great at designing a financial plan, implementing it and monitoring it. But, they also make sure the client truly understands why each and every recommendation is made and the impact of saying ‘yes’ or ‘no.’

Here are some questions we’d challenge you to ask during your next client interaction:

‘How would you feel if your estate lost 35% of it’s value upon passing to your beneficiaries?’ (hint: impact of income taxes on 401k or IRA to non-spouse)

‘How is your 7702 retirement plan performing?’ (hint: 7702 is the section of the tax code which covers the tax advantages of cash value life insurance)

‘Do you think taxes will increase or decrease for the remainder of your life? Your children’s lives?’ (hint: most will say increase)

‘How would another bear market like the two we’ve have since 2000 affect your retirement?’ (hint: vehicles exist to help negate downturns in the markets)

‘What would happen to this plan we’ve designed if you or your spouse passed away?’ (hint: we can integrate a ‘self competing’ financial solution into an overall financial plan)

Looking for additional ways to overcome the misconceptions of the value of an IUL? Download our guide now to find out!

 Download the 3 Big Myths Of IUL: How To Overcome Them


Steve Wildman, CFP & CHFC & DMI Sales Consultant

Steve Wildman has spent the past 14 years within the financial services industry, focusing primarily on insurance and income planning. Steve has spent time on both the retail and wholesale sides of financial planning, which provides him with a unique perspective on how to help grow our advisor partners’ book of business and generate revenue for their practices. Steve is a resident of Havertown, PA, where he lives with his wife Claire. Steve is a DMI Sales Consultant and can be reached at, or 610-357-1611

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