Archives for March 2015

Master Closing With 3 Simple Approaches

Posted on 03.30.15 |

Michael F. Sciortino, Sr. Executive Vice President, Managing Director, Head of Distribution, CMG

Harvey Mackay said, ” You learn when you listen, you earn when you listen – not just money, but respect.”

When I started in the business I was extremely fortunate to have been afforded the benefit of consultative selling training. The simple act of being taught how to attentively listen to clients and prospects has made an enormous impact on my career. It has enabled me to present in a reassuring and reinforcing manner. In a moment, I will share some of these ideas.

This brings up a question I asked during some training recently. What business are you in? Yes, the correct answer is the “People Business.” Treating your clients with respect and helping them reach their goals and objectives, one at a time. What a great business!

The “Sweetest 16” Quotes From An All-Time Legend

Posted on 03.24.15 |

Michael F. Sciortino, Sr. Executive Vice President, Managing Director, Head of Distribution, CMG

Tournament time! Cinderella teams! All-Time Legends! Fast Breaks! Slam dunks! Buzzer beaters! In the words of Dick Vitale, “Are you serious?”

As with each team starting out in the tournament with the hopes of raising the trophy and cutting down the nets at the end, you as an advisor are on a constant journey toward your pinnacle as well. You are always striving for consistency, building momentum and focusing you and your staff on doing your best.

Throughout the 60’s and 70’s, one of the game’s all-time legends, John Wooden, guided and coached the UCLA Bruins. They were the most dominant team in sports winning 10 NCAA Men’s Division 1 Basketball titles. What can you learn from Coach Wooden and apply to your business?

3 Ways To Maximize Your One Thing

Posted on 03.16.15 |

Michael F. Sciortino, Sr. Executive Vice President, Managing Director, Head of Distribution, CMG

You are paid in life in direct proportion to the number of problems you solve, opportunities you fulfill and contributions you make. As an advisor, you are chosen by your clients not only by those factors but also by your differentiating factor. So, what’s your one thing? What sets you apart?

The door is wide open for you to utilize your platform to have a positive impact. As Pablo Picasso said, ” All human beings are born with the same creative potential. Most people squander theirs away on a million superfluous things. I expend mine on one thing and one thing only – my art.”

I ask again, “what’s your one thing?” Many advisors I know respond, ” My ability to serve my clients and exceed their expectations.” I would concur that this is a very worthy one thing. How do they do it? By constantly asking themselves 3 questions:

Blumenthal in Forbes: Bond Model Says Sell

Posted on 03.13.15 |

Forbes Steve Blumenthal, CEO of CMG Capital Management Group, writes in Forbes about”the year that interest rates will finally rise.” An excerpt:

“Employment figures continue to surpass analyst estimates and the trend over the last six months has been strong. Last Friday’s upside surprise sent interest rates higher. It is expected that the Fed moves off its zero bound peg by September.

“Liftoff is likely just the beginning of the journey. That popular song rings louder in my head, All About That Fed. The problem with rising rates is that bonds lose money, especially when your starting place is ultra-low yields.

“Confusion deepens the more you turn on CNBC. One expert shouts rates are going higher. The next argues they’re headed lower. Both make a good case.”

See the full story: Rate Hike Ahead, Bond Model Says Sell

Improve Listening With 4 Easy Steps

Posted on 03.09.15 |

Michael F. Sciortino, Sr. Executive Vice President, Managing Director, Head of Distribution, CMG

Years ago when I was just starting out in the business I used to continuously listen to recordings by successful sales trainers any chance I could. It was invaluable to hear stories about how these trainers handled all aspects of the selling process. Today, I would like to share a very important lesson that has been invaluable to me in my career.

One morning, I was riding down the road on the way to an appointment as I listened to J. Douglas Edwards talking about the importance of active listening when all of a sudden he yells out, ” SHUT UP, SHUT UP.” This was followed by dead silence. He had made a point that to this day I have never forgotten. Once you have made your presentation, you need to sit back and listen to the client’s response. You may feel that you are waiting an usually long time, but the operative word here is listen. In this case, the trainer was trying to emphasize that when the client responds, they will tell you how you may help them solve their problem.

The Mathematics of Loss

Posted on 03.08.15 |

By Steve Blumenthal, CEO, CMG Capital Management Group

According to my friends at Ned Davis Research, Inc., during the average buy-and-hold stock market, an investor spends 77% of his or her time recovering from cyclical downturns in the market. 77% of the time – that’s telling. It’s in the mathematics of loss. Remember that it takes a 100% gain to overcome a 50% decline.

My two cents is that many investors expect 9% to 11%; yet, we currently live in a world of 4% to 5%. If you are an older dog like me, you’ll remember your clients expecting 18% per year or more in the late 1990s and 2000. My client, Roberta, left CMG in December 1999 after I grew her account 30% over the prior two years. She was ultra-conservative and positioned accordingly.

The problem, of course, was that 30% paled in comparison to the 51.4% the S&P 500 gained in 1998-1999 or the 159.14% the NASDAQ gained over those two years. She told me she was going to a Merrill Lynch broker and was investing in “safe stocks”. Her $1 million account fell to less than $500,000. Had she stayed, that same $1 million would have grown to over $1.3 million. It is tough to compare a conservative bond strategy to stocks, but I showed her the forward return probabilities back then and I wrote frequently about a technology bubble. Unfortunately, that didn’t help. She was in her mid-60s then. Safe stocks. Right.

Trade Signals: Cyclical Equity and Bond Trends Remain Bullish

Posted on 03.06.15 |

By Steve Blumenthal, CEO, CMG Capital Management Group

Steve Blumenthal, CEO, CMG Capital Management Group, counsels strategic patience in investing From an investment management perspective, I’ve followed and written about trend and investor sentiment for many years. I have found that going through the drill each week in a systematic way helps me stay balanced and in line with the market’s primary trend. I believe risk management is paramount in the investment process. When to hedge, when to become more aggressive, etc.

Trade Signals started after a colleague asked me if I could share my thoughts with him. I have found that putting pen to paper has really helped me in my investment management process and I hope that this research is of value to you.

Stand Up And Stand Out: Embrace The Secret Power of Now

Posted on 03.03.15 |

Michael F. Sciortino, Sr. Executive Vice President, Managing Director, Head of Distribution, CMG

He who every morning plans the transactions of the day and follows out that plan carries a thread that will guide him through the labyrinth of the most busy life. The orderly arrangement of his time is like a ray of light which darts itself through all his occupations. But where there is no plan, where the disposal of time is surrendered to the chance incidents, chaos will soon reign.”

– Victor Hugo

Over the years, I have observed that advisors are top performers in our business when they are so determined to be top performers that they will do things to be top performers that most people would never do. What is their secret? Well, you’ve probably heard the old saying,” Don’t put off to tomorrow what you can do today.” Their secret is taking action NOW! They become successful because they find ways to serve their clients better. To them, the only future their clients have is the one they help them create NOW. Successful advisors inspire their clients to make the necessary changes NOW that will enable them to reach their goals. They realize that every moment is a time of choice, every hour creates your destiny and they choose to act NOW.