Episode #12: LifePro Asset Management: Your Turnkey Advisory Solution

You have been using life insurance and annuities to help clients accumulate principal protected savings in a tax efficient manner for years. In this episode of Money Script Monday, Rob introduces LifePro Asset Management, a new platform that complements the values of financial protection while growing your production and generating a new stream of recurring revenue with little additional costs or workload.


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Video transcription

Welcome to another episode of Money Script Monday, my name is Robert Reaburn, and today we're going to be talking about LifePro Asset Management, which is our turnkey advisory platform for you. This platform was designed to not only help you accumulate assets under management, but really help increase your life insurance and annuity sales.

We're able to do this because of the same values that we do with life insurance and annuities, which are capital protection, principal protection, tax efficiency, and stability at the core of everything we do under our holistic plans. Similarly, we have three core objectives when we design this RIA platform.

1.) Simplify the retirement process for your clients.

2.) Make sure that the overall plan was risk and tax-efficient. In other words, your clients are going to not only be sold on the plan, but they're going to stick with the plan over time.

3.) Lastly, we wanted to create a more robust and profitable business for you.

Simplified retirement process

The first step in achieving these three goals is to really make your client’s life a lot easier. Most clients today have multiple brokerage accounts, and sometimes the amount of pages in those statements on a monthly basis can be upwards of 30 to 40 and even 50 pages.

Simplified Retirement Process

One Custodian

One of our objectives is to take all those accounts and consolidate them into one custodian platform. We offer two custodians for you to choose from, either TD Ameritrade or Charles Schwab. Based on the platform that best meets your needs, we open up those client accounts and we consolidate all of their assets into one clean statement and that really allows us to tackle not only what they currently own, but really where they should be going.

Reduce Competition

One of the things that we noticed when we created life insurance and annuity plans is that in many cases an outside advisor that's really focused on the investment piece can disrupt the entire funding plan, because clients are allocated a certain amount of funding for those life insurance plans, but then an outside advisor comes in and steers those funds away toward the investment plan, and that can disrupt everything.

By creating one advisory solution or, in other words, one estate plan, you control all of the funding, whether it's life insurance and annuity or investments, and that will create a better outcome for you and the client.

Comprehensive Needs Based Plan

Everything we do is based on needs-based financial planning, in other words, focusing on "What does the client need?" and "How do we get the client to meet those needs with the least amount of risk possible?"

One Common Objective

The life insurance, annuity, and investment components are all working symbiotically and together toward this one common objective versus competing, as is the case with many of your clients today.

Risk & tax efficient solution

The next step is "How do we create a risk and tax-efficient solution when we're incorporating that investment piece?" Well, that was really simple to us because we focused on principal protection for so many years through Indexed Universal Life that we said our platform is going to focus on capital accumulation, reducing the impact of taxes, not only today but in the future, and then maximizing the amount of capital that is principal-protected.

Risk and Tax Efficient Solutions

By doing this, we're really reducing the overall risk of the plan, and we're allowing the client to take a little bit more risk on the investment side as a result.

We get to this point by going through an easy three-step process that we created here at LifePro.

  • Step 1: Determine Lifestyle Funding - One of the things that I always say to advisors is that the government calls social security, social security for a reason. We are trying to secure their lifestyle in retirement. We're not trying to gain wealth, we're trying to secure their wealth.
  • Step 2: Secure Lifestyle - Once we determine the lifestyle funding, we secure that lifestyle by maximizing principal-protected tools, such as, but not limited to, Indexed Universal Life and Fixed Index Annuities.
  • Step 3: Invest the Surplus - Once we've secured that lifestyle and we've secured the minimum amount of death benefit required by the client, we then move and invest the surplus. When the client knows that their retirement is secure, they're actually able to take a little bit more risk on those surplus savings, and overall we create a more risk-efficient portfolio.

Robust, profitable business

One of the things that we hear from advisors is that, "I'm already jam-packed with business, with servicing clients. How on Earth am I going to be able to add an entirely new layer of business and sleep at night?"

Robust, Profitable Business

Two Income Streams

The way we've designed this platform is that it's completely customized and turnkey to fit your business. If you have no time for an assets under management business, we will do it all for you, and you earn the fees that are charged to the client. We've created a two-income stream business model for your advisory business.

  • Fixed Business: Maximize and increase your fixed life insurance and annuity sales by creating holistic estate plans for your clients.
  • Fee Business: Capture that fee-based business that you're currently leaving on the table. The best part about this is that it needs no additional work on your end. We're going to do that for you.

Cross-Sell Strategy

Over the last four months, we've really assessed where advisors really had success so far under our platform, and that success has really been in the cross-sell strategy.

Loyal Client Base

Most of our advisors, especially our top advisors, create tons of value with Indexed Universal Life, other types of life insurance products, and annuities. It's really easy for them to revisit those clients that they've created a lot of success for already and then say to those clients, "Listen, everything I've done for you on the life insurance and annuity side, I want to do something with the same sort of values that is going to work toward that same common objective that we talked about on the investment side." 9 times out of 10, the client is saying, "Yes, let's do it." So what that overall creates is a more loyal client base.

Imagine an example of Microsoft Windows, what we're really doing is we're creating an operating system for you to offer your clients, and the more that we can service your clients, the more sticky that business is going to be over the long term and the more cash flow you're going to generate for your business. In other words, we're providing a long-term annuity for your business.

LifePro Asset Management

Our platform is really a life insurance and annuity-centric type of asset management platform where we really place principal protection and protection against future taxes at the core of everything we do, and then once we've secured those core risks for the client, we then invest the surplus. We think that this is an exciting new platform and a new approach to investing, and that's really the message that we wanted to push forward today.

LifePro Asset Management

If you want any more information on how we can help you get started, please feel free to contact me or anyone else here at LifePro by calling 1-888-LIFEPRO, and we will provide that information right away. Thanks again for your time, and we appreciate your partnership

About Robert Reaburn

Robert Reaburn is the Managing Director and Head of Wealth Management at LifePro Asset Management. He works with financial advisors building diverse financial portfolios that best prepares their clients for their financial future and provides peace of mind.