AdvantEdge - World Financial Group

Think
and
Grow
Rich
NO GLASS CEILING ,
JUST BLUE SKY
Nightingale-Conant’s
AdvantEdge
GET THE EDGE AT WORK AND IN LIFE
FROM
DREAMING
TO DOING
WORLD FINANCIAL GROUP IS HELPING ENTREPRENEURS
MOVE FROM DREAMING TO DOING p48
PLUS:
USE THE SAME FINANCIAL TOOLS
AS THE SUCCESSFUL DO p16
Tom Mathews
World Financial Group
Duluth, GA
$4.95 USA
VOLUME C, ISSUE 24
www.advantedgemag.com
$6.95 CANADA
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contents
Nightingale-Conant's
AdvantEdge
Vol. C, No. 24
Features
48
38 Lloyd Conant: This I Believe
Lloyd Victor Conant had the vision to create a company
with the sole purpose to empower people to succeed. He
believed that in each of us lies the unawakened strength
to live the life we most desire ... and he was right. In this
rare interview, learn this humble entrepreneur’s powerful
philosophies on service, teamwork, idea generation,
and the journey to success — which have been the
foundation of Nightingale-Conant for over 40 years.
48 From Dreaming to Doing®
How World Financial Group is transforming the face of
financial services and empowering entrepreneurs across
North America to move from dreaming big dreams to
living big dreams.
By Sheila Lothian
54 Think and Grow Rich
Napoleon Hill has arguably influenced the success of
more men and women than any other person in history.
Steel magnate Andrew Carnegie was so impressed with
Napoleon as a young reporter, that he convinced Hill to
research and organize the world’s first philosophy of individual achievement. The project took 20 years to complete and included insights from such greats as Thomas
Edison, Henry Ford, and President Roosevelt. The result
was a proven formula of 13 clearly delineated success
principles,which has since changed the lives of millions —
and made Napoleon Hill a legend for all time.
62 The Strangest Secret
62
Know what will happen to 100 individuals who start even
at the age of 25, and who believe they will be successful?
By the age of 65, only five out of 100 will make the grade!
Why do so many fail? What happened to the sparkle
that was there when they were 25? What became of
their dreams, their hopes, their plans ... and why is there
such a large disparity between what these people
intended to do and what they actually accomplished?
That is ... The Strangest Secret.
By Earl Nightingale
84 The Death of Impossibility
The Wright brothers achieved more than a technological
breakthrough when they conquered flight on
December 17, 1903 — they redefined “possibility” for all
of us. Apply the seven problem-solving principles the
Wright brothers used over 100 years ago to break free
from the impossibilities in your life.
By Mark Eppler, Author, The Wright Way
84
www.advantedgemag.com AdvantEdge
5
contents
Nightingale-Conant's
AdvantEdge
Vol. C, No. 24
Professional Edge
16 No Family Left Behind™
16
Bringing Wall Street to Main Street, and making sure that
on the road to financial freedom, no family is left behind.
24 The Company of Women
(No Glass Ceiling, Just Blue Sky SM)
World Financial Group is giving women all they’ve ever
asked for: A 100% equal opportunity to change their
futures.
By Sheila Lothian
30 Failure Is a Choice Made by the
Undisciplined
Failing to meet your objectives, regardless of what they
are, is a choice, because something else has been given
higher priority. If you fail, it is because you choose to fail.
By Vic Conant
Personal Improvement
72 Success Is Not an Entitlement
Success is not an entitlement. It is not a “right” or a
“claim” that we should simply get. Success is earned.
By Ivan R. Misner, Ph.D.
76 It’s Easy to Earn Money
Most people spend their entire lives trading their time
for money and never amass the financial fortune
available to them. They never invest the time to learn
the basics of how to multiply their income.
By Bob Proctor
24
Insights
13
14
22
29
34
66
90
Some Day ... If Only ...
The River or the Goal/Tips for Setting Goals
Perceptions of Success
Avoiding Futile Competition
Autograph Your Career and Your Life With Excellence
Escape the Culture of Complaint
Don’t Follow the Follower
Departments
8
20
46
68
80
Letter from the Editor
CEO Dad
Coach’s Corner
Simple Truths
Inspiring Quotes
Editorial contributions must be submitted by mail (not fax or email) and accompanied by return postage. Publisher assumes no responsibility for return or safety of unsolicited art, photos, manuscripts, books, or audioor videocassettes. AdvantEdge is published at least six times per year. AdvantEdge magazine, Nightingale-Conant, 6245 West Howard St, Niles, IL 60714. Copyright © 2005 by Nightingale-Conant. All rights reserved.
AdvantEdge™ is a registered trademark. One-year subscription rate for U.S.: $19.95; Canada: $31.95; all other countries, two-year subscription rate: $89.95 (cash orders only, payable in U.S. currency) POSTMASTER:
Please send address changes to AdvantEdge, Nightingale-Conant, 6245 West Howard St., Niles, IL 60714. Permission Material in this publication may not be reproduced in any form without written permission. Requests
for permission must be made by mail in writing, must include a self-addressed, stamped envelope, and should be mailed to: Reprints and Permissions, AdvantEdge™, 6245 West Howard St., Niles, IL 60714. Allow three
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letter from the editor
ur mission is to continually connect you with the
world’s most powerful success information, giving
you the Edge at work and in life.
O
RESPECT PEOPLE, MAKE MONEY, HAVE FUN
Welcome to another
powerful
issue
of
AdvantEdge.
Every once in a while
a new idea comes to an
old market and changes
everything. In this issue,
I am thrilled to introduce a very unique company that is doing just
that. On the surface
World Financial Group, a member of the $320
Billion AEGON Group, might appear to be just
another financial services firm, but with a closer
look it is apparent they are much more — a rare
blend of old-school financial advice and revolutionary practices that focus on empowering and
enabling both their clients and employees to
move from dreaming… to doing.
Their secret: a culture that focuses on opportunity rather than obstacles. Where competitors
see problems, WFG finds success. When I first
learned of this “focus on opportunity,” I was
reminded of a lesson that I learned in college at
Lafayette in Easton, Pennsylvania.
My freshman year, I had taken up mountain
biking, and my first weeks of riding on the steep,
rocky Appalachian Trail were met with several
brutal falls. After my third or fourth perilous
tumble down a rocky slope, one of the gentlemen
in my group, the most experienced rider, pulled
me aside and asked me a question I have never
forgotten. He asked, "When you're riding down a
hill like this, what are you looking at?" I looked
at him and said, "I'm trying not to hit a big rock
or those trees!" He then looked at me and smiled
and said, "That's your problem. Don't look at the
rocks you are trying to avoid; look at the space
between the rocks, where you want to go. The
bike will follow what you are focusing on."
I did use his advice and managed to become a
very accomplished mountain biker. However,
his advice had far greater implications for me
than just for mountain biking. I have always carried that lesson with me as an interesting
metaphor for success. So often, we fail because
we never take our eyes off the obstacles (the
rocks) long enough to see the opportunities (the
spaces between the rocks).
World Financial Group exemplifies this idea.
They don’t see the rocks that most companies
see; they see the space (the opportunities)
between the rocks. Here are just a few of the
opportunities they have found where most only
see boulders.
Office politics: In order for most large companies to control their staffs, complex political structures are used which sap enthusiasm and deflate
employees’ hope of achieving greatness. WFG
looks between those rocks and lets their people
operate like entrepreneurs within company – free
to succeed as they please, based solely on performance. (see From Dreaming to Doing, p48).
The glass ceiling: Many companies are trying
to tear down the long-standing “glass ceiling”
that has prevented so many women from reaching the top. WFG is not tearing the glass ceiling
down because it never existed. They looked
between those rocks long ago and realized that
the space between was enormous opportunity.
By creating a structure that empowers women to
utilize their unique talents and drive, WFG gains
a competitive advantage in the marketplace. (see
The Company of Women, p24).
The rich get richer: As many of the top
investment firms steer their brokers away from
serving low and middle income families, to
focus on helping the rich get richer, WFG sees
vast opportunity. In fact, WFG has built their
entire company around providing the same
financial advice, tools, services and personal
care available to the rich, to every family, regardless of income. (see No Family Left Behind, p16).
Each of our ability to succeed in life is
dependent on our ability to focus on the opportunities, regardless of how large and frightening
the obstacles are. World Financial Group is a
rare company that helps everyone from employees and associates to customers and clients stay
focused on those opportunities … and helps
them avoid the rocks.
Enjoy another powerful issue of AdvantEdge!
Carson V. Conant
Editor in Chief, AdvantEdge
EditorInChief@advantedgemag.com
8
AdvantEdge www.advantedgemag.com
professional edge
No Family Left
™
Behind
Bringing Wall Street to Main Street, and making sure that on the
road to financial freedom, no family is left behind.
“B
y making every citizen an
agent of his or her own destiny, we will give our fellow Americans greater freedom from
want and fear and make society more
prosperous and just and equal”
President George W. Bush declared in
his inaugural address earlier this year.
Every day in a variety of ways,
Americans and Canadians struggle to
attain this freedom from fear and want.
While the paths to this freedom are
many, the ability to choose the kind of
lives we wish to lead for ourselves and
for our children can grow from one
important source — personal financial
independence. The lottery or the death
of a rich old uncle notwithstanding, as
an agent of our own destiny, we may
seek personal financial freedom as an
employee, as a self-employed person
or as an entrepreneur business owner.
However, in order to create wealth
regardless of the source or amount of
our income, we should consider
becoming an investor.
Since the vast majority of us are
employees and without hefty stock
options granted and exercised before
the tech bubble burst, we may only
achieve the goal of personal financial
freedom through astute investing.
How do we become an astute investor
when so many of us live paycheck to
paycheck, over-laden with debt and
with little or no security net?
16
AdvantEdge www.advantedgemag.com
Bringing Wall Street
to Main Street
A recent Wall Street Journal article1
confirmed what most people already
know: by and large, Wall Street is not
interested in the little guy, or even the
average guy. In fact, at a time when
average families need good financial
information, knowledge and advice
more than ever, many of the big brokerage firms are ratcheting up their
efforts to turn them away.
Case in point: In a blatant bid to
eliminate less-profitable clients, three
of the biggest Wall Street firms have
recently eliminated commissions on
accounts under $100,000. With no
incentive for servicing smaller
investors, brokers for these firms have
no choice but to abandon lower and
middle-income clients in favor of
wealthier accounts. Their small
investors are left to figure things out for
themselves on websites or through call
centers, where they receive limited, if
any, knowledgeable financial advice.
The American Dream,
A Myth?
America has long held the distinction
as the land of boundless opportunity,
where a person’s family background and
social or economic status placed no limits on their ability to achieve financial
success. It has a history peppered with
many rags-to riches stories, from
Benjamin Franklin and Henry Ford to
Warren Buffett and Bill Gates. Men, who
through hard work and a little luck,
climbed to the highest rungs of the economic ladder. But do the facts support
this image today? Is hard work enough?
The gap between the rich and poor
has widened significantly since 1970,
but the odds that a child born in poverty will rise above their parents’ economic class remains unchanged for the last
35 years.2 Further, the richest 10% of the
U.S. population own more than 88% of
the stock in individual hands, according
to Federal Reserve data from 2001.
To continue the illusion of living the
American dream, many have turned to
debt to finance lifestyles their current
incomes cannot support in order to
enjoy an existence better than their
parents. Since 1990, median American
household income has inched upwards
only 11% after adjusting for inflation,
while median household spending has
increased by 30%, according to an
analysis by Economy.com. Median
household debt outstanding, in the
meantime, has leaped by 80%.
In the battle to keep pace with the
wealthy, outstanding household debt
doubled to more than $10 trillion
between 1992 and 2004 (after adjusting
for inflation)3. Some economists fear
that rising interest rates, sluggish wage
growth and the threat of a housing bubble burst may force many over-extended people into bankruptcy in the years
to come. President Bush added that “In
America's ideal of freedom, citizens
find the dignity and security of economic independence, instead of laboring on the edge of subsistence.”
No Family Left Behind™
World Financial Group (WFG), a
member of the AEGON Group with
over $320 Billion4 in assets, takes a
holistic view in helping families build
wealth and has already helped hundreds of thousands of people profit
from the strategies of the rich, and their
charge continues today. Their mission
is simple: To help people become financially independent no matter what their
income so that No family is left behind.
Taking advantage of the products and
services available through its affiliates,
World Financial Group walks its customers, regardless of their current financial situation, through a six step process
to increase cash flow, manage debt, create an emergency fund, ensure proper
protection, build long-term asset accumulation and preserve their estate. From
helping to identify more available
money to developing debt solutions,
from home mortgages to investments to
finance a vacation home away from
home, from saving for your children’s
college education to setting up investment vehicles for your grandchildren’s
education, from protecting your family
should you die too soon to accumulating sufficient retirement funds should
you live a long and happy life, WFG
associates stand behind their customers.
“Building a secure financial future
isn’t about having a lot of money,” says
Senior Executive Vice Chairman Ed
Mylett. “It’s about doing the right
things with the money you have. That’s
what changes a person’s life. All you
need is someone to sit down with you
and show you how to do it.”
That kind of personal, one-on-one
conversation is the first step in the
WFG associate-client process, and it
enables WFG to understand their
client’s point of view and meet their
needs in a way few financial services
companies can match.
As clients begin a savings program,
WFG is sensitive to their time horizon
and tolerance for risk. Based on these
factors, WFG is able to offer the beginning saver a wide choice of fixed and
indexed insurance products that put
them on track to achieving their financial goals. Further, through its registered broker-dealers, clients are educated about investing in equity-based
investment products, like mutual
funds, unit investment trusts, 529
plans and variable annuities.
For those clients who want to protect their families and make the most
of their investment dollars, WFG’s broker-dealer affiliate, World Group
Securities, Inc., also provides variable
universal life insurance products that
offer an extraordinary opportunity to
couple that protection with equity
investments on a tax-advantaged basis.
Life insurance does not have to be
only “death insurance” as so many are
conditioned to believe. The benefits of
these policies, subject to applicable
fees and charges, are fully available
during the lifetime of the insured person, however, it also provides the
added protection and security of death
benefits for your family, even if you
die tomorrow, and it allows you the
opportunity to build real wealth without unnecessary income taxes.
“WFG recognizes that the path to
financial independence is a journey for
our clients and that along the way; there
is a point (approximately $25,000 in
“Building a secure financial future isn’t about having a lot of
money,” says Senior Executive Vice Chairman Ed Mylett. “It’s
about doing the right things with the money you have. That’s
what changes a person’s life. All you need is someone to sit
down with you and show you how to do it.”
That kind of personal, one-on-one conversation is the first
step in the WFG associate-client process, and it enables WFG
to understand their client’s point of view and meet their needs
in a way few financial services companies can match.
18
AdvantEdge www.advantedgemag.com
investment assets) at which the client
becomes a true investor as opposed to
focusing primarily on saving,” says
Senior Executive Vice Chairman Dean
Fliss. “Many clients at this stage are
looking for active management of their
portfolio in order to minimize downside
risk as an alternative to traditional ‘buy
and hold’ methods of investing.” The
registered investment advisor program
through another WFG affiliate is able to
provide these clients with fee-based programs that monitor accounts on a daily
basis as a part of an investment strategy
customized for their risk tolerance.
Working with each client through
an in-depth financial needs analysis,
WFG associates help families identify
their specific needs, goals and priorities, then provide the financial concepts and tools necessary to meet
those needs, attain those goals and
maintain those priorities. In keeping
with its mission to help families
become financially independent, WFG
empowers its clients to become the
agents of their own destiny on their
way to freedom from want and fear. n
To learn more about World
Financial
Group,
please
visit
www.worldfinancialgroup.com today.
1
Wall Street Snubs Small Accounts,
Wall Street Journal, February 17, 2005
2
As Rich-Poor Gap Widens in the U.S,
Class Nobility Stalls, Wall Street
Journal, May 13, 2005
3
Lagging Behind the Wealthy, Many
Use Debt to Catch Up, Wall Street
Journal, May 17, 2005
4
USD, According to the 2004 AEGON
Annual Report (www.aegon.com)
Securities offered through World
Group Securities, Inc. (WGS), member
NASD, SIPC. Investment advisory services offered through InterSecurities,
Inc., a Registered Investment Advisor.
WFG, WGS, WFGIA, and ISI are affiliated companies. There is no assurance
that investment objectives will be
achieved. Investment products contain
risk. Mutual funds, variable annuities
and variable universal life insurance
are sold by prospectus. Please contact
WGS at 770-453-9300 for a prospectus
that contains complete information,
including fees, investment objectives,
surrender charges, risks, expenses, performance information and other information about the mutual fund, variable annuity or variable universal life
insurance policy. Please carefully consider all these important factors and
read the prospectus carefully before
investing. Variable product subaccounts are subject to market risk and
may lose value.
professional edge
The Company of
Women
By Sheila Lothian
World Financial Group is giving women all they’ve ever asked for:
A 100% equal opportunity to change their futures.
Y
Women
are
the
world's largest market. They account for
80% of all spending
by U.S. households,
account for 70% of
new business startups, and control over
half the private wealth
in the United States.
ou don’t want to believe it. You
tell yourself it can’t be true, that
it’s a relic of a day gone by.
But if you’re a woman who has
spent any time in the business world,
chances are you’ve come up against it:
The proverbial “glass ceiling” that
keeps you from reaching the highest
levels of professional success … simply because you’re a woman.
There’s no question that genderbased workplace inequality should be
a thing of the past. After all, the workforce includes more women than ever
before, contributing at higher and
higher levels and fueled by tremendous ambition and a powerful drive to
succeed. Yet recent statistics show that
a startling disparity between a
woman’s success in business and that
of her male counterparts still exists.
• Women make up more than half of
the managerial and professional
labor pool, but only account for a
little more than 1% of all Fortune
500 chief executives*
• American women make 83% of
consumer purchases and comprise
51% of the electorate, yet …
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AdvantEdge www.advantedgemag.com
• Only 63 of the top 2,500 earners at
Fortune 500 companies are women*
• Only 8 percent of partners at Big
Five accounting firms are women*
• Only 14 percent of partners in
America’s top 250 law firms are
women*
Those statistics offer a glimpse of
the cold, hard reality that confronts
many women on a daily basis. “Most
companies have not dispelled myths
about women's commitment, about
their risk quotient, willingness to relocate, and ability to manage men or run
a manufacturing operation” says Betty
Spence, President of the National
Association of Female Executives
(NAFE)*, “so women do not get
offered the opportunities that lead to
the corner office.” Indeed, terms with
negative connotations are used today
to describe women whose career path
includes raising a family.
What is missing in so many organizations, it seems, is a truly level playing field. An opportunity for women
to be evaluated and to advance solely
on the basis of their performance,
without reference to their gender, age,
previous career experience, or lack of
it. Under such unbiased conditions,
women would inevitably soar to the
top in record numbers.
In support, consider what is happening to many women who have
become disillusioned with the corporate world. The same talents and skills
that have been undervalued and,
hence, under-rewarded in large corporations and professional firms have led
women to become among the most
successful entrepreneurs in the country today.
Women-owned businesses are growing at twice the rate of all U.S. firms.
One in every 11 adult women owns
a business. More than 18 million
workers are employed by a woman
business owner. Women entrepreneurs
generate nearly $2.3 trillion in revenues to the U.S. economy. One in five
women-owned businesses is owned by
one or more women of color.
One company, however, stands out
as melding the best of both worlds —
providing a genuine equal-opportunity
experience for its home office employees and for its entrepreneurial independent associates. And it’s thriving
right in the middle of what has long
been considered the ultimate “boys’
club” — the financial services industry.
A World Away From
Business As Usual
World Financial Group, Inc. (WFG)
is a financial services marketing company whose mission, structure, and
work environment are anything but
business-as-usual. Founded with the
purpose of bringing the financial
strategies of the wealthy to middleincome families, WFG has empowered more than a million North
American families to take control of
their financial futures and build the
life of their dreams.
But within its own walls, WFG has
created something else unique in the
field of Financial Services: A business
environment in which women face
absolutely no external obstacles to
success.
In fact they have taken a proactive
stance, recognizing that women’s
innate strengths — an instinctive
focus on teamwork, relationshipbuilding ability, the inclination to
seek more information when making
decisions — are actually tailor-made
for the service-oriented financial
arena. Over a year ago, the company
took the unprecedented stance of
highlighting this hidden strength
through its women’s initiative, named
“In the Company of Women.” While
several financial services companies
are waking up to the need to market to
women, In the Company of Women is
not an experiment or new marketing
gimmick aimed at a niche market segment. Rather, this program serves as
the identity given to a fundamental
principle of WFG — everyone
receives the same chance to succeed,
and success is recognized based solely on performance.
According to Spence, its lack of targeted training — not lack of ambition
— that blocks women's advancement
to the highest ranks of corporate
America. To answer that challenge,
WFG offers comprehensive training
programs designed to thoroughly
equip all of its associates for a career
in financial services, right down to
licensing and registration preparation.
“Our training programs give anyone
the knowledge and expertise to build a
fantastic career. All they need to bring
to the equation is the drive to succeed,” says WFG’s Judy Hsiao.
Another obstacle hindering women
in the corporate ranks is the lack of
The high level of flexibility so many women are seeking has been an essential part of WFG’s philosophy
from the very start. WFG associates have the freedom
to choose where they work, when they work, and how
much they work. ... For women, all of this translates
into an opportunity to build a career around their lives,
instead of being forced to build their lives around their
careers.
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AdvantEdge www.advantedgemag.com
mentors. Anyone successful will tell
you how important it is to have a role
model. With so few women in corporate leadership positions, the persistence of hold-over biases and unfounded assumptions about career-oriented
women, as well as the sometimes overly cautious litigation-led concerns
about male — female relationships in
the workplace, women are left with
few, if any, options in finding a mentor, male or female, to help guide their
careers. At WFG, women and men
leaders commit to mentoring the members of their team, regardless of gender,
over the long term. The cycle continues as the mentored become the mentors of tomorrow as they build their
teams and businesses.
As WFG’s impressive (and growing)
ranks of female executives and associates are proving, women and Financial
Services make a winning combination
— one that gives WFG an advantage
over their closed-minded competitors.
Eliminating the
Experience Gap
One of the most common obstacles
many women face in their quest for
professional success is career discontinuity. Women who reenter the workforce after taking time off to raise their
children, or who decide to make a
mid-life career transition, often find
themselves at the bottom of the ladder,
facing a near-insurmountable gap in
experience and seniority
This ubiquitous barrier to women’s
success hasn’t been “broken down” at
WFG — it simply never existed there.
“World Financial Group was built on
the philosophy that potential, not
present circumstances, should be a
person’s entrée into a job — and that
performance, not politics, should be
the sole determinant of success in
that job,” says WFG CEO, Tim
Stonehocker.
WFG’s Marcy Blochowiak, one of
many success stories, was a flight
attendant when she first learned about
WFG. “Initially I thought, ‘Who would
ever want to learn about money from a
flight attendant?’ But WFG taught me
to look beyond labels and tap into my
potential to learn the financial services business and change my life.”
Today, Blochowiak is the author of a
book which gives women a guide to
making the transition from employee
to entrepreneur and building great
teams.
Her story is a common one at WFG,
where thousands of women from all
walks of life — from social workers to
teachers to stay-at-home moms — have
launched exciting, lucrative, selfdirected careers as independent associates, helping families plan for their
financial futures while helping themselves and their families in the process.
These women have joined WFG for
a very simple reason: they want it all,
and with WFG, they’ve found they can
have it all.
Freedom, Flexibility, and
Financial Abundance
The “all” that women today are
searching for comes down to one thing:
fulfillment. Fulfillment in their personal and business lives, but also fulfillment in championing a noble cause:
helping people around the world
achieve financial independence.
Presented with the all-or-nothing
choice between a successful career
and a fulfilling home life, more and
more women are pioneering a third
way, forging new paths to their dreams
on their own terms as home-based
entrepreneurs. In fact, a recent study
found that women often start companies to better balance their work and
family lives, rather than to get rich*.
The high level of flexibility so many
women are seeking has been an essential part of WFG’s philosophy from the
very start. WFG associates have the
freedom to choose where they work,
when they work, and how much they
work. And, by providing financial
information to women and their families, WFG women help others attain
their own freedom of choice.
What’s more, by providing independent associates with the marketing
and administrative muscle of its
Executive Headquarters, as well as
ongoing support from a network of
experienced field leaders, WFG
enables women to make this leap to
business ownership without the usual
risks of starting a new business. “They
are in business for themselves, but not
by themselves,” says, WFG’s Dina
Fliss, “which makes all the difference
to a new business’ success.”
For women, all of this translates
into an opportunity to build a career
around their lives, instead of being
forced to build their lives around their
careers. Attracted by that opportunity,
women who join WFG are delighted to
discover that a satisfying job and a
Why All the Fuss? Why Now?
Simply put:
Women are the world's largest market.
They account for 80% of all spending by U.S. households.
They account for 70% of new business startups.
They control over half the private wealth in the United States.
It should be clear the fuss is justified and worth the effort. Although women make up
“only” 51% of the United States population, they are the sole or primary decision makers
for just about every household (and increasingly business) purchase.
Earnings power and wealth ownership are only part of the story, then: spending tells the
tale. Yet, in a recent study, 91% of the women questioned said advertisers don't understand them. (Greenfield Online for Arnold's Women's Insight Team).
Frankly, in light of the power packed in women today, the fuss is not big enough. The
challenge for marketers is to understand today's woman customer well enough to help
meet her needs, the wisdom to communicate in ways that resonate with her cares and
concerns, and the patience to build a relationship rather than seal the immediate deal. The
first to do this in your industry will make not only today's sale, but tomorrow's as well.
Isn't that worth some fuss on your part? It should be.
Women, who comprise just over 50% of the U.S. population, make over 80% of the
consumer purchasing decisions? (And in case you're wondering, consumer spending
accounts for 2/3 of GNP, so that's hardly peanuts!) Moreover, because of their entry into
the workplace over the past 30 years, and their rapidly accelerating income and ownership base, women are increasingly dominant in categories not traditionally marketed to
them, including cars, computers, financial services, home improvement and consumer
electronics. How knowledgeable are you about how women make decisions, what motivates their purchases, and how they respond to marketing differently than men?
Women own 40% of all businesses in the US, employ 19.1 million people and generate $2.5 trillion in sales. What are you doing to reach the women entrepreneurs who
have been starting 70% of all new businesses for the past decade and driving the market
for Small Office/Home Office equipment, supplies and communications technology?
Women will acquire over 90% of the growth in U.S. private wealth between now and
2010? Have you thought about how women will become an increasing proportion of the
U.S. affluent population as the Baby Boom ages? Are you reaching out to these consumers and investors, or are you doing business as usual — marketing to men (and leaving the women to your competition)?
Source: Marti Barletta, Author of Marketing to Women (www.trendsight.com)
healthy home life don’t have to come
at the expense of a high income. With
nothing to hold them back but the limits of their imagination and ambition,
these women are earning more than
ever before. With WFG, they’ve found
a way around the glass ceiling … and
discovered that what lies beyond it is
nothing but blue sky. As famous
female author George Eliot once said,
“It’s never too late to be what you
might have been.” n
Sources: www.womenof.com, ©1997-2004
www.thecompanyofwomen.com
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27
From
DREAMING
to DOING
®
How World Financial Group is transforming the face of financial services and
empowering entrepreneurs across North America to move from dreaming
big dreams to living big dreams.
By Sheila Lothian
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AdvantEdge www.advantedgemag.com
O
nce in a while, a new idea comes to an old industry and completely transforms the way
that industry does business.
Wal-Mart revolutionized merchandising. McDonald’s revolutionized fast food. Starbucks revo-
lutionized coffee. These mavericks defied logic and democratized the marketplace by making
quality, in-demand products convenient, affordable, and available to the masses — from the student who wants a latte to the CEO who needs Tide™.
The elite world of financial services is the latest institution to get this shakedown. World
Financial Group is one of the visionary companies leading this revolution, and forever changing
the way ordinary people understand and use money and positively transforming the financial
futures of tens of thousands of people across North America and around the world.
The mission of World Financial Group (WFG) is powerful, simple, and in the realm of financial services, remarkably original: To bring widespread financial education to middle-income
families, and empower them with the information and opportunities to achieve lifelong financial
independence and the ability to lead the successful life they desire.
Continued on Page 50
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49
Continued from Page 49
Once upon a time, it was possible
for a working family to build a solvent,
successful life on a modest income.
Before the dawn of the age of credit
and cash machines, spending was easier to regulate and saving was an
ingrained habit. Affordable education
opportunities abounded for those who
had the interest and the commitment
— a young student could literally pay
his way through school by working a
part-time job. Most companies provided employees with a pension that a
person could count on to sustain them
through their retirement years.
Today, it’s a different story. The cost
of living continues to rise. Expensive
items like cell phones and computers,
those once-overlooked people have
been empowered to climb out of debt,
begin savings plans, provide for their
families, start their own businesses,
retire early, fund their children’s educations, take dream vacations, give
back to their communities, and more.
And many have done it with the help
of World Financial Group.
So, what is the secret? Simple. WFG
introduces everyday people to the
same wealth-building strategies used
by the wealthy, and makes the unique
financial needs of this group a priority instead of an afterthought. Through
a comprehensive six-step process,
WFG associates empower clients to
identify and address their particular
financial goals and challenges. They
“Once in a while, a new idea comes to an old industry and
completely transforms the way that industry does business.”
—Monte Holm, President, World Financial Group
considered luxuries just a few years
ago, are fast becoming necessities.
Faced with ever-increasing needs that
their incomes can’t possibly meet,
many families have turned to credit to
fill in the gap, only to find themselves
quickly drowning in debt. Staggering
housing prices and skyrocketing
tuition costs threaten to put the most
basic elements of the American Dream
— home ownership and a college education — out of the average family’s
reach. And with employees now
shouldering the burden of saving for
retirement and Social Security providing barely enough to make ends meet,
millions of men and women are facing
an uncertain and frightening financial
future.
The solution to this tremendous
challenge does exist: good financial
information. Through smart, informed
investing and planning, it is possible
to overcome debt and build wealth on
even the most modest of incomes.
Yet ironically, the people who need
this kind of information the most have
historically had the most limited
access to it. Personal finance isn’t a
part of the average school’s curriculum, and most financial services companies and investment firms continue
to cling to the old way of doing business, targeting clients who already
have a lot of discretionary income.
But things are changing. Over the
past 15 years, more than a million of
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AdvantEdge www.advantedgemag.com
work together to map out a Financial
Roadmap that will take a client from
where they are financially to where
they want to be.
But that’s only the beginning.
THE “OPPORTUNITY
COMPANY”
If you are like most people, you
dream of someday being your own
boss, setting your own schedule, having ultimate control over your time and
income, and making a living on your
own terms. However, most people
never get past just that ... dreaming.
The harsh realities of self-employment often cripple those dreams before
they ever get off the ground. Fearing
the loss of the “security net” their current position provides — a reliable
paycheck, a strong support structure,
health benefits, an established corporate reputation to fall back on — most
people remain in unfulfilling jobs,
rather than make the leap to entrepreneurship. Those that do make that leap
face an uphill battle. Statistics show
that as many as 60% of new businesses
fail within five years. They don’t have
the money, education, or experience to
get the odds in their favor.
Recognizing the widespread yearning for entrepreneurial self-sufficiency
among its client base on the one hand,
and the roadblocks standing in their
way the way on the other, WFG
devised an ingenious solution — a system through which ambitious entrepreneurs are able to leverage their own
unique talents and the assets of an
established company by becoming
independent WFG associates.
Thousands of ordinary people with
extraordinary dreams have seized this
life-changing opportunity, moved
beyond dreaming to doing, and
achieved the best of both worlds: the
freedom and control of self-employment, and the support and security of a
world-class corporate organization
that is so critical to a business’s success.
In yet another departure from the
business-as-usual of most financial
services companies, which recruit
new employees primarily from direct
competitors or companies in related
industries, WFG’s associates hail from
all walks of life and all professional
backgrounds. Ranchers, flight attendants, CPAs, teachers, microbiologists,
auto mechanics ... they’ve all launched
their own businesses through the WFG
model, freeing themselves from the
constraints and limitations of traditional employment with the potential
for incredible and virtually unlimited
income growth.
WFG is convinced that the diversity
of its associates is a big part of the
company’s success.
“Our people are our secret,” says
World Financial Group CEO, Tim
Stonehocker. “Our hiring and recruiting practices allow us to tap talented
people from all walks of life and connect them with our time-proven financial products and techniques. We give
them the freedom to be entrepreneurs
and individuals, and in turn they take
WFG in new directions and to successes that would never be possible otherwise.”
Rich Cunningham, a CEO Marketing
Director from West Jordan, Utah, says
that owning his own business has
given him a degree of freedom and fulfillment he never could have achieved
in his previous career as a mining
mechanic. “I have the ability to do
what I want, when I want. For the last
six years, I’ve been a coach on my
son’s little league football team. My
schedule is also flexible enough so I
can attend my daughter’s horse riding
events and special school activities. I
don’t have to ask a boss for time off.
It’s called choice.”
The choice is to work where you
want, when you want, with the opportunity to earn as much as you want. For
THE WFG FINANCIAL
ROADMAP*
those who demand this lifestyle, now
there’s a way to beat the statistics and
achieve it.
MENTORING DONE RIGHT
What fuels the daunting 60% failure
rate of new businesses? Perhaps the
biggest factor is the lack of support —
both material and psychological —
that new business owners face. Going
from the security of an established
organization, where mistakes are easily absorbed and the fate of the company doesn’t rest on each individual
decision, entrepreneurs often feel like
they’ve been thrown into the deep end
of the ocean without a life vest —
accountable for every aspect of their
business’s operation and success, with
no one to help and nothing to fall back
on. The burden of responsibility can
quickly become too heavy to bear.
In contrast, the success rate of
WFG’s associates can be traced to the
fact that although they’re in business
for themselves, at no point are they
ever in business by themselves.
As a member of the AEGON group,
WFG has corporate support from one
of the world’s leading insurance, pension and related financial services
organizations, with assets of more than
$320 billion.9 But financial support is
only the beginning.
At WFG’s Duluth, Georgia headquarters, 350 employees go to work
each day with one goal in mind: helping associates to build their business.
To that end, they provide training programs, licensing and commission support, stock option programs, marketing
materials, software, corporate Intranet
access, technology solutions, health
insurance, and more —everything an
associate could possibly need to
launch, maintain and grow a thriving,
profitable business.
And at the heart of WFG’s strength
is its Mentoring Business Model: a
“pay it forward” structure — unique in
the industry — that ensures a positive
environment in which associates are
continually lifted up by their colleagues, instead of brought down by
office politics.
Most companies offer some kind of
mentoring program, but they typically
fall short of transferring the information and experience that can vault a
new employee over the inevitable
roadblocks and setbacks. In contrast,
mentoring is woven into the very fabric of WFG. Each associate has a
To help clients plan appropriately, World Financial Group has developed the WFG
Financial Roadmap. this suitability and needs analysis, based on information that
the client provides, helps establish the foundation for the client’s financial plan.
The WFG Financial Roadmap includes the following six steps:
1
INCREASE CASH FLOW
Step
2
MANAGE DEBT
3
CREATE EMERGENCY FUND
Step
4
ENSURE PROPER PROTECTION
Step
Step
Step
5
Step
6
• Earn additional income
• Manage expenses
• Consolidate debt
• Strive to eliminate debt
• Save at least three months’ income
• Prepare for emergency expenses
• Protect against loss of income
• Protect family assets
BUILD LONG-TERM
ASSET ACCUMULATION
• Outpace inflation
• Reduce taxation
PRESERVE YOUR ESTATE
• Help reduce estate taxes
• Build a family legacy
*The WFG Financial Roadmap is a suitability and needs analysis developed by World Financial Group. The analysis is based upon information obtained from sources believed to be reliable and accurate. However, discuss any legal, tax, or financial matter with the appropriate
professional. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any specific
security or financial service.
whole team of experienced field leaders to draw upon, and who will continue to guide them as their careers
grow and they face new challenges
and opportunities.
“We give all associates access to the
support and talent that every entrepreneur needs at some point in their journey,” says Senior Executive Vice
Chairman Tom Mathews. “If you were
struggling to get a new venture — a
new business — off the ground and
facing a tough decision that you could-
n’t work out on your own, what would
you do? Our mentoring program fills
that gap. For example, if your marketing efforts aren’t resulting in the kind
of numbers you were aiming for, you
can simply tap into the proven strategies of other associates who have been
in your exact situation and know how
to turn it around. You have the freedom and control of a business owner,
but support is there, whenever and
wherever you need it.”
Continued on Page 52
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51
THE NEED EXISTS
With an alarming lack of education about financial fundamentals, people need the
tools and guidance to help them make informed choices to meet today’s challenges.
STAGGERING DEBT
• Consumer debt has been steadily rising to over $2.1 trillion in 20041
POOR SAVINGS HABITS
• Americans are spending more but are saving less. With the growth of real
consumption spending outpacing that of real income through most of last
year, the personal saving rate moved lower, from 1.5% , on average, in 2003
to only 0.5% in the third quarter of 20042
• Most Americans are not saving enough to meet future needs. Personal savings rates are approaching historic lows, and will be insufficient to meet the
future retirement of most Americans.3
THE COST OF COLLEGE
• Paying for college can cause a strain on personal savings. According to the
College Board’s Trends in College Pricing 2004*, the fees are going up. Here’s
a glance at the average college tuition and fees 2004-05 vs. 2003-04: The
average cost in 2004-05 to attend a four-year private college increased 6% to
more than $20,000 per academic year. Public college tuition increased even
more dramatically — up 10.5%to more than $5,100 per year.4
RETIREMENT & THE RISING COST OF LIVING
• The median income reported by older American’s in 2000 was only $13,769.5
Only 4 percent of retirees have saved enough and have enough income to
have achieved financial independence.6
• Suppose you and your spouse are both 45 years old, earn $100,000 a year
and have plans to retire in 20 years. If inflation averages 4.5 percent during the
next two decades, you will need more than $241,000 a year to equal your current $100,000 earnings.7
UNEXPECTED LOSS
• If you should die unexpectedly, without proper planning, your family could
face serious financial concerns. The average single death claim paid by the
insurance industry in 2002 was $11,442.8
U.S. Federal Reserve, Statistical Release for Consumer Credit, February 7, 2005 • 2 The Federal Reserve Board: Monetary Policy Report
submitted to the Congress on February 16, 2005, pursuant to section 2B of the Federal Reserve Act • 3 The 21st Century Retirement
Security Plan, Final Report of the National Commission on Retirement Policy, March 1999 • 4 Trends In College Pricing, The College
Board, 2004 • 5 A Profile of Older Americans 2001, U.S. Department of Health and Human Services, Administration on Aging. • 6 2000
Retirement Confidence Survey, American Savings Education Council, Employee Benefits Research Institute, and Mathew Greenwald &
Associates • 7 American Chamber of Commerce Executives, 2003 • 8 American Council of Life Insurers, ACLI Life Insurers Fact Book, 2003.
1
Continued from Page 51
As a product of this mentoring environment, each associate in turn gladly
“pays forward” the training and support that he or she received, by acting
as a mentor to other associates and
helping them to grow their business.
Given its incredible, proven effectiveness and the culture of camaraderie it fosters among its associates,
why don’t more organizations use this
“pay it forward” mentoring model?
“Because they don’t have the proper
incentive structure in place to make it
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AdvantEdge www.advantedgemag.com
work,” explains Senior Executive Vice
Chairman, Bill Mitchell. “In other
businesses, colleagues will often avoid
helping one another out of the belief
that someone else’s growth and success will diminish theirs. They see
opportunity as a pie, and each slice
that someone else takes is one less
slice to be had. We know better and we
make every effort to foster the collective efforts of our differing talents. It’s
a ‘team over me’ approach, and it’s
incentivized in everything from compensation to rewards to recognition.”
When was the last time you received
that level of support, enthusiasm and
encouragement from the people you
work with or the experts in your field?
Imagine what you could do if you could
draw on the limitless expertise of those
who have fought in the same trenches.
Think of the confidence you would
have to take on new opportunities and
conquer the inevitable setbacks, knowing you had this ace in your pocket.
REAL RECOGNITION,
REAL REWARDS
Walk through the halls of most companies, and you can feel the sense of
disillusionment that permeates corporate America today. Most people still
believe in the old promise that hard
work and determination are all you
need to get ahead. But they’ve also
come face-to-face with the bitter reality: a culture in which office politics
and favoritism all too often send the
wrong people up the ladder, while
honest, hard workers are left behind.
Fed up with this inequitable and
unworkable structure, people are
walking away by the thousands in
search of a truly level playing field
and the chance to get ahead on their
own merit. These are the people who
go from mediocrity to success at WFG.
If a WFG associate earns a promotion, he or she gets it. No one is threatened by anyone else’s success, because
when one person does well, the whole
team does well. Everyone knows that
the same opportunities for advancement are available to them.
As Co-Chairman Xuan Nguyen puts
it, “The only competition any associate faces is his or her own will to win.”
And that will to win is acknowledged
and rewarded in a variety of innovative
ways, from merit-based promotions and
public recognition and awards at major
company events, to “Super Trips” to
exotic destinations around the world.
But for most associates, the greatest
reward is knowing that they are finally
in complete control of their financial
destiny — and that through the work
they do, they are filling a vital need in
the world: the need for ordinary, working people to be able to provide for their
families, live well and comfortably, and
bring their dreams into being. n
To learn more about World
Financial
Group,
please
visit
www.worldfinancialgroup.com today.
USD, According to the 2004 AEGON Annual
Report (www.aegon.com)
9