College Planning and the Financial Planning Professional

It has become cliche that the United States has transformed from a manufacturing to a knowledge-based economy, and that the jobs of the future will require advanced education and critical thinking skills. The assumption is that this will continue to place a premium on, at the minimum, college-level education and ideally, a college degree with on-going professional education, whether in the form of an advanced university-based certification or degree e.g. MBA) or a professional designation (e.g. CLU).

If price is an indicator of demand, then it would appear that the value -- indeed, the necessity -- of a college education is recognized in American society. Mary Mederios Kent, senior demographic writer at the Population Reference Bureau, notes in a recent article that the cost of two-year college in the 2009-2010 academic year ranged from less than $8,000 (for a public college with the student living at home) to an average of $20,000 per year for a two-year for-profit colleges. A degree from a four-year private university averaged $24,000 per year for students living at home, and $34,000 for those living on campus. Advanced degrees cost even more (or rather, "require a larger investment.")

The Unhappy Life of Forced-Placed Insurance and the Ongoing Mortgage Scandal

So, what is forced-placed insurance, and why would it be unhappy -- other than being "forced," that is? The concept behind forced-placed insurance as it relates to mortgages is as follows: should a homeowner fail to meet his insurance premiums, then the loan servicer can step in to buy an insurance policy that is comparable in coverage. The mortgaged property thus remains fully insured, protecting the interests of both the homeowner and the lender. Hey, what's not to like?

The High-Powered AdvisorOne Website

A product of Summit Business Media, AdvisorOne website, launched in early October, provides content from the industry publications Investment Advisor and Research, but goes far beyond simply offering a digital platform for these publications. AdvisorOne aggregates relevant content across the Web, including AP Financial Wire, Bloomberg, Business Week, WSJ ... well, we could go on, but you get the picture. James J. Green, group editor-in-chief of AdvisorOne, states in the company press release that "[w]e have news, expert in-depth analysis and commentary, market data, tools and networking opportunities in targeted content areas of critical interest to advisors. Not only can investment advisors benefit from our 30+ years of experience serving them, but we filter relevant content from across the Web to ensure that advisors can go to one site for all of their information needs.”

Getting Started, Keeping Going

Woody Allen famously stated that "Ninety percent of life is just showing up." The new insurance producer, fresh from training that incorporates as much attitude-building as it does education on product, may well begin in the field with this thought in mind. Ah, were it only so easy! For despite the best product inventory, the slickest marketing material, the most sophisticated lead-system, the insurance career is a challenging path. As industry statistics demonstrate, "just showing up" does not cut it in this field. To be successful, the new agent needs to find a way to last.

The recent book by Brady Fineske, All You Have to do is Last, is meant to help producers meet this challenge.  The title is taken from one of the many memorable quotes of insurance giant John Savage; Fineske was trained by Savage & Associates, and he pays tribute to the training and influence he has received from Bob Savage and the top producers in the firm.