Every other week, Lead. Empower. Grow. features interviews from entrepreneurs who lead productive teams, empower their communities and grow successful businesses of their own.
Our guest on this week’s episode is Michael Hatter, a Senior Vice President who will be leading a sales panel at the upcoming Leaders Convention 2022 at the Paris Las Vegas Hotel & Casino on July 28.
We got a sneak peek into what he might discuss from stage, as well as a book recommendation to all who work in the industry entitled Who Moved My Cheese? and how its lessons inform how he protects his clients. See below for an excerpt of our conversation — you can listen to the full episode here.
You will be speaking at Leaders Convention 2022 later this month — can you tell us a little about what your topic is?
I’m going to be leading a panel discussion. Our panelists will be talking about what they are doing to ensure that their clients have financial security. We’ll get into my panelists’ backgrounds and find out what their motivations are, how they’re helping their clients, and what they’re seeing out in the field. They’ve been getting results, so I’m looking forward to it.
May I ask how you would answer those same questions? What are your motivations?
When it comes down specifically to retirement planning, it is helping people look out into the future.
To be honest with you, a lot of people get little bit confused about all the numbers. They really want someone that they can connect with — because it’s a relationship business. The more information that my clients give me, the more I can use that information to show them how to build towards a better retirement. So, the trust part of it is really, really key. It’s connecting with people — seeing them as a person, not as a number.
You would think, for as long as the I.U.L. and indexed products have been around, that a lot of people would be familiar with them, but they’re not. For most people, it is something that they’re not familiar or comfortable with. We can provide a solution for the public that’s as relevant as it was in 2008. You don’t have to lose money, that is not an acceptable reality. There is a different reality out there.
We can provide a solution for the public that’s as relevant as it was in 2008.
Have you found that your clients are worried about inflation or today’s market?
Well, I have two types of people: I have my clients that have their indexed products, so they’re happy. They love me. Then, I have the clients that are petrified and nervous. The big thing that leads to for people is doing nothing. They’re paralyzed, and they don’t know what to do. They hear that they can get a market-like return without the risk, but they’ve been doing the same thing for so long that making a change or adjustment can be tough.
You don’t have to lose money. There is a better reality out there. That’s what our solutions provide.
There’s a book that I read that I wanted to share — this book really made a serious impact on me. It’s a simple book called Who Moved My Cheese? It’s a quick read. It talks about the changing dynamics that happen in a person’s life.
One consistent thing that will happen in life is change. When our clients are stuck in their paralysis, we have to remind them that change is a natural part of life. We go through four seasons; things grow up, things die. It’s just a part of life. When we have better information, we make better decisions — that’s something I try to instill in clients.
When we have better information, we make better decisions — that’s something I try to instill in clients.