Chad Owen, an annuity sales coach, avoids reacting to short-term market drops and instead sells insurance-based products with partial market participation and income riders. He shares a story of a client who moved $300,000 to avoid ongoing risk, and warns against panic outreach after single bad days.
Foreign.
The annuity sales coach. As you guys can tell, yesterday the market dropped a huge amount. 3% and a plus for the Dow and the S&P and 4% for the NASDAQ. And I commonly get a question, what do I do when the market drops that much? How do I respond? And I'm going to tell you, it's plain and simple. I don't respond any different than anybody else would. The market's going to go up, the market's going to go down. That's why we make sure we're keeping our clients in safe products that participate in part of the market gains, but don't participate in any of the losses when the market loses. And when you have income riders, you don't even have to worry about it. So once again, when I meet with people the day after a big crash in the market or a big gain in the market market, I'm still talking about the same thing every time. My product provides a peace of mind. My product, it doesn't matter if the market's going up, market's going down. It doesn't matter who's in the office. It doesn't matter what's going on politically. From the standpoint of my product is going to protect your money from market volatility. So I don't necessarily get out there and start blasting emails. Market fell 3%. Need to call me because I've seen some people do that. That's not a. Because once again, you have no idea what the market's going to do today. The market could go up 3% today. We don't know. The point of our products is to make sure that our clients don't have to participate in the craziness. One of our insurance companies that we use is coined the term sleep insurance. And sleep insurance just gives you a peace of mind. You can sleep at night not having to worry about things. That's also why the title of my book is called Stress and Rocking Chairs, Two most common killers of semen stress. Because you have to worry about everything. Rocking chairs, because you have nothing to live for, no purpose. You don't have any money to do anything. So if I can eliminate the stress and rocking chairs aspect of your life, how great is that? So once again, when the market does this, I don't think it's necessarily a good idea to go and blast or start calling people going, man, that was a bad day yesterday. You should really look at moving your money now. If it does that for a while, obviously we can call some clients and say, hey, you know what? Especially people that have kind of been on the fence for a while. I just had a client yesterday move 300,000 because for the past two months, she hasn't earned anything on her brokerage account yet. The stock market has went up. So she's just like, you know what? Why would I be in the market right now if I hardly earn anything when it goes up? But I still have a huge risk. And we just happened. She liquidated her accounts yesterday. So for her sake, it actually was very beneficial for her. But the reality is, once again, we don't want to get caught up in the high highs and the low lows. We make sure we're giving our clients something that they don't have to worry about, the volatility anymore. So my process, my what I say, my solution, selling everything stays the same. This is why it's so important that you go through my courses, because my courses, it's going to be a very methodical process that I've developed over the past 14 years, so you don't have to react sell. You respond by getting a solution to the problem. So just wanted to give you guys a little tip. I appreciate your time. Hope you have a great day. Talk to you soon.
