Ashford Interview
Intro
Thanks for coming in. Now before we get started tell me a little about yourself. What
have you done since being out of school? Any awards, accomplishments employee of
the month…brag about yourself! (WFA ) Make small talk, engage them.
If they say they have kids: Oh! What’s his/her name?! Do you have a picture? He/She
is so beautiful/handsome.
Wow that’s awesome!
Do you have anything you got recognized for in the past? Any awards? Acknowledge
their response.
Where do you see yourself in 5 years? What are some goals that you have? (WFA)
Acknowledge their answer.
If they say they want to be successful: I heard you say you want to be successful,
what does that mean to you? (WFA) We are really big on team work here!
Where do you see yourself 20 years from now? (WFA) Comment on what they say.
What’s something , not a weakness, but something that you would like to improve
upon? (WFA) Acknowledge their response and thank them for sharing.
What do you consider your biggest strength? (WFA) Acknowledge their response.
What age did you start earning income? Just curious. (WFA) Acknowledge their
response.
Ok so have you ever heard of Primerica? (WFA)
Slide 1
We started off back in 1977 with just 85 people. We started from a gentleman
named Art Williams in Georgia. He was actually a football coach. So he’s a regular
person like me and you. (Point to picture) This is him. He started because his mom
was forced to raise his 2 younger siblings –struggling--after his father died with the
wrong type of life insurance. So he actually created a company that’s for the people
not for the big corporations. He wanted to really educate and teach people exactly
what we do. To help people and not get ripped off by these big companies. From that
we’ve grown to over 100,000 licensed agents. We have over 6 million clients in the
United States, Canada, Peurto Rico and Guam. 4.3 million lives insured, more than 2
million investments client accounts. We’re the largest financial services marketing
organization in North America. So one of the reasons you might not have heard of
Primerica is because we don’t spend any money advertising. All the money we could
put into advertising we put back into our products and services so there’s no
competition. We also put a lot of money into the associates. We’re the only company
on a part time basis that fully sponsors you to get licensed, including your
investments licenses. We have no interest in your degrees. We want to see what’s in
your heart and your integrity. So we fully sponsor you to get licensed, we also have
contests twice a year we go on trips. We’re going to ___________. Would you like to go?
Well there are people who haven’t even joined the company yet that are going.
Contest ends ________. There’s spots for new people, so if you qualify to work with us
you can be a part of that contest as well. So they spend a lot of money on the
associates and on our products and services. So that’s why we don’t advertise. It’s
the same way you find a barber or a mechanic….it’s all word of mouth. We were a
part of Citi Group for about 20 years. On April 1, 2010 we broke away and we are
now a publicly traded company on the NY stock exchange. PRI is our ticker symbol.
Before going public there has to be a lot of research done, right? Can’t just let any
company on there. So the research has definitely been done. Warburg and Pincus,
they’re a private equity firm, they invested $10 million of research in our company
they then invested $230 million more our first day public. So do you agree that the
research has been done? (Yes)
Slide 2
So with any business you have to find the need and fill the need, right? So if you
don’t have a real need you can’t make any money. But if there is a need you
definitely can make a lot of money right? So are there any financial challenges out
there? (Yes) Absolutely! Average credit card debt right now is over $15,000. That’s
average! Now if you have that much credit card debt can you save any money? (No).
US foreclosure actions shattered all records and will continue to do so again this
year. 95 million adult Americans have no life insurance. 95 MILLION!
Personal story about someone you know dying without life insurance OR use
Jackie’s. “Jackie was a social worker before becoming RVP. She worked at Fells high
school and there was a young man she worked with in middle school, whose father
died. No life insurance. They did a cupcake sale, they raised $90, they could not bury
his father. One of the young ladies she worked with was coming home from college,
got off the bus at Front and Olney and was struck and killed by a car. No life
insurance. You heard about the two people in the news? The father -son drowning?
Well that was one of my teammate’s best friend’s husband and her nephew. No life
insurance”
So this really affects our community a lot. It’s not that they don’t care about their
families, they’re just not educated about it. So this is one of the things we really
focus in on and teach people about it. We really hone in on this. Now 43% of
Americans say they have less than $10,000 in savings. Is that gonna cover a big
emergency? (no) 47% of workers feel not too confident or not at all that they can
even retire. 47%!!! Now 8 in 10 people live paycheck to paycheck. Do you know
people who live paycheck to paycheck? (yes) How many people need help with that?
(A lot.) Exactly. The typical American household made less money last year than the
typical American household made a full decade ago. Now how real and how serious
are these problems? (Very real) Who’s actually facing them? (Everyone) Who’s
actually helping people with these problems? (Nobody) See the rich and the wealthy
can go to JP Morgan, Morgan Stanley, Merrill Lynch and get help. And then the
government is gonna help those people that make below a certain amount, then
there’s 85% of people facing these problems with no one to help them. We
specifically target them, give them a free financial education so they can actually win
the money game. Now if you worked for JP Morgan, Morgan Stanley do you think
you could help your family and friends with their finances? (no) No! Your friends
and family would be still struggling and not getting any help! With Primerica, the
beauty of it is you actually get to help your friends and family with us! You actually
get to see them and teach them and help them get out of debt, help them to save
money and help them with all these problems we face. You actually get to help your
friends and family first with Primerica.
Slide 3
Ok so this is a statistic of just a hundred random people…all different types of
people…police officers, nurses everybody. Working from age 25-65 and where they
ended up financially. Now 54% are still gonna be dependent. They still have to rely
on their friends, on their family and their children for money. Can you imagine being
65 and you need _________(child’s name /parents)______ for your income? How would
that feel for your dignity? Embarrassing right? More than half of people age 65 are
in that category. 54%. 36% of people are still working. Do you think they want to
work or have to work? (Have to). Have to work. 5% are dead, they can’t help that
right? 4% are ok, with a million dollars, that’s like $50,000 a year. Is that gonna be
the same when we’re 65? No. Not with inflation. 1% is wealthy with $5 million
saved up. Now why do you think 95% of people fail when it comes to their finances?
(WFA). They have no financial education, no game plan and no coach. We provide
all of those things with our mission.
Slide 4
So our mission is to help families earn more income, become properly protected,
debt free and financially independent. Now how many people want those things?
(Everyone) How many people actually are those things? (Not many) So we provide
something called a financial needs analysis. This is customized, it’s confidential and
it costs about $200-$2,000 with most companies. How much do you think we charge
our clients? (WFA) It’s free for our clients! It basically shows you where you are and
the steps you need to take to get to where you need to be financially. It’s kind of like
a financial GPS. So let’s say I was on my way to come see you at your house, and I
called you and said _______ I’m on my way but I’m lost and don’t have a GPS. What’s
the first thing you’d ask me? (Where are you?) Right. You need to know where you
are to know how to get to where you need to be. How many people today are totally
lost financially? (Everyone) Now how beneficial would it be to have a written game
plan that shows you exactly where you are financially, the steps to take to get where
you need to be, it’s free and we guide you through the process? Now let’s say you did
qualify to work with us, and said nah, I’m ok. Are your friends and family ever going
to get this for free? (No.) You see the importance of the referrals? Now sometimes
people say, where am I going to get my folks from? Where do I get my referrals?
Again, you start with your friends and family, you get to see them first. Now let’s say
you go to see your cousin and you provide them with a plan like this that shows
them how to get out of debt the retirement, college for the kids, auto and home, legal
protection…everything! Do you think they would refer you to people? (Yes)
Absolutely. Every time we go sit with somebody we get about 20-25 more people to
go see. From one of those people you get more people to go see. One of the people in
our office had about 300 people to go see after referrals! He was the top person in
PA! So you always have people to go see, you never have to worry about going and
knocking on doors, cold calling…I don’t want to do that kind of stuff do you? You
don’t have to worry about any of that here, we always have someone to go see.
Slide 5
So this is a snapshot, the meat and potatoes of exactly what we do for families. This
is a married couple Bob and Susan, they’re in their 30s, they have two kids. So Bob
and Susan have debt. How many people do you know have debt? Everybody! They
have $165,000 first mortgage. Paid off in 24 years. They also have 3 credit cards.
$13,000. Debt free 58 years later. How old will they be when they’re debt free?
(Never!) We gave them something called debtwatchers, now they save $56,000 of
total interest. 0 extra payments, by age 55 they’re debt free. Are they gonna be
happy? Are they gonna refer you to people? Yes! And you got paid! Every single
thing on this side we get paid on. They also had life insurance. $150,000 on both Bob
and Susan. No protection on the kids. Do accidents happen to kids? Yes. They’re
paying $298 a month. That’s pretty expensive right? This is called cash value life
insurance. It’s something everybody has. If you go to like 10 people’s homes, usually
7, 8 outta the 10 have it. It’s a form of whole life, universal life, variable life…you
ever heard of those types? You ever seen Gerber life like on TV? That’s a form of
whole life like cash value. So in this example let’s say Bob and Susan they got 2 kids.
They got $150,000 on both of them. You’re paying for 2 things but you only get 1.
That’s what they don’t tell you. So let’s say Bob and Susan die, all the money that
they saved up…the insurance company keeps it. So all the money that they saved up
all that time…let’s say they wanna take that money out, the life insurance is
terminated. That’s just two of the things, there’s a lot going on with this. We dig in
and we really educate you on exactly how to read the policy to people. We sponsor
you to get licensed. Let’s say you go and you explain it to them and you educate
them on exactly how it works. Now you can provide them with $300,000 of coverage
on them both, $25,000 on the children, and $123 a month. They’re saving $175 a
month. Just from us educating them. Are they gonna be happy? Refer you to people?
And again you got paid. How many families need a will? (Everybody) How about
legal protection? How much does that usually cost? (A lot) Is it $25? $25 a month
you can set up a will and have full access to respected law firm whenever you want.
$26…$1 more and you can have it 24/7.
Jackie story or your own. “Jackie just used it recently…she got pulled over, didn’t
know what to do…called the lawyer, he told her what to say and she didn’t get any
points.”
So again, just from that, just from that one legal protection alone are they going to
refer you to people? And you got paid again. Also auto and home. How many people
complain about how much they pay for their auto insurance? A lot of people! $243
they’re paying for both. We give them a phone number it checks what they pay
against 20 A-listed companies. Most people call Geico and Progressive…go with
Geico. They call two, this checks 20 A-listed companies, it’s a 3-5 minute phone call.
Now they pay $178 a month. They’re saving $65 more a month just from a phone
call. The best part: Auto and Home, legal protection, debtwatchers you don’t need to
be licensed. So this is the kicker. They also had retirement: $20,000 in the bank at
3%. No bank gives you 3%...just an example. All they can save a month is $100. It’s
really tight. Age 67 $116,000. Can they retire? No. So what we did is we educated
them on mutual funds. So since we now rolled them over into a mutual fund. They
can save $300 a month. Where’d they get the $300 a month? (From other areas)
Now accumulation at 9% average rate of return at age 67: $1,022,000 cuz they had
an extra $200 a month to save. Can they retire? Yes. Now if you were “A” would you
switch to “B”? If you saw 10 people, how many do you think would switch from “A”
to “B”? (10!) Well you still got some knuckleheads out there but most would!
Slide 6
So let’s say you only had 5 clients in a month and you’re a district leader part time. 5
life sales, 3 IRA rollovers, 1 debtwatchers, 2 auto and home and legal protection:
That’s $4,800! 5 clients in a month part time. Now even if half of them did it that’s
still $2,400. So if you could make an extra $20 to $40,000 extra a year part time
without jeopardizing your job or school or your hobbies, would that interest you?
Slide 7
So as a Regional Vice President Full time, same amount of work, 5 clients in a month
–again a higher contract level-- that’s $10,000. Now you got a bigger team. 6-8
District leaders on your team that you trained, they’re all working with you as a
team. That’s another $24,000. RVPs get a bonus every single month. At your job did
you ever get bonuses? Did you get bonuses every single month? Was it like $2,000?
So this month let’s say the bonus was $2,900 for the RVP. So 5 clients in a
month…same amount of work as a District, and a Regional leader, it’s $37,000 for
the month. As an RVP.
Share your own story or Jackie’s. “When Jackie was a social worker she didn’t make
this much in a year with a Master’s Degree working 2 jobs. She was making $2,000 a
month, she couldn’t pay her bills, she couldn’t save her money. Her dad raised her,
she couldn’t do anything to help him. She was tired of being broke, tired of not
saving money. She started saving money working part time, she made $6,000 in a
month. Saved up $10,000 and quit her job. She does this full time now.”
Slide 8
So this is just a slide to show some of the income of some of the earners in the
company since we’ve been around since 1977, and then since 2000. People that
made over $50,000 since 1977: 5,500. 2900 since 2000. These kinda need to be
updated.
Share your own story or Jackie’s: She just got the watch because she hit $50,000 in a
rolling 12 months.
Also the people that made over a million: 63…32 more since 2000. Again these
numbers need to be updated. But this book (Bring out book) I wanna show you.
Have you ever worked for a company and they had everybody in the company that
makes over $100,000 in a book? So this book actually shows it. And the people in
blue are people that make over a million dollars in our company. Now this guy right
here Sam Shepard, he’s actually from Philadelphia, he was a baggage handler at the
airport. Made $22,000 a year. Now he lives in Atlanta with his wife, made $1.1
million…he just crossed over. With our company. A lot of the people in the book had
no background, no experience.
Share your story or Jackie’s: Jackie was a social worker, had no idea about any of this
stuff. She was just tired of being broke and couldn’t save any money and wanted to
do something different. Everybody in the book basically had that same background.
So what would interest you more? Getting started part time or the FNA or both?
Slide 9
Ok so to get started with us again we spend thousands of dollars to license you and
we spend hours upon hours training you. So we do pay again on a part time basis,
we’re the only company that fully sponsors you to get licensed. Also your series 6
and 63. So that’s thousands of dollars we spend on you and again hours upon hours
to train you. So we’re gonna be like brother and sister…we’re gonna spend a lot of
time together…make sure that you’re confident, competent before you go out on
your own. So what are some of the reasons we should spend all that money on you
and all those hours to train you? And to make sure that you’re good at our business.
Why should we bring you on board? (Let them give you reasons.) Great Now to get
started with the company there’s a lot of fees like the state fee, the exam fee…now
let’s say you went back to school and got a finance degree, how much do you think
that will cost you? Like $30,000 right? How much do you think the books will be?
Couple hundred dollars right? Let’s consider how long it would take to get life
licensed. How long do you think it would take you to get life licensed in the state of
PA? Couple months right? How much do you think the books would be just to get life
licensed? Couple hundred?
Slide 10
So again to get started with us there’s a state licensing fee, exam fee, fingerprint and
background check, PFSU pre-licensing (Primerica Financial Services Univeristy
licensing school) Everything together is $400. You only pay $99, one time, covers
everything…all your licenses, the background check, the fingerprint, everything.
Now to maintain everything, what cell phone carrier do you have? (WFA) Great!
You’re going to get 27% off every bill just like I do. Does that sound good? 27% off
every bill, your own website and business report, access to live, on-demand video
training whenever you want to at your access. You’ll qualify to have your securities
license paid for. That’s major. Jackie had to pay $600 to get that, now the company
pays for you when you qualify. Financial analysis software, everything is about
$6,000. You only pay $25 a month and it’s optional, but very very useful. We also
have bonuses in place, cuz you can’t make any money unless you have a license. Like
if you’re a barber you can’t make any money without a license. Restaurant owner,
you need a license. People wanna get paid now. So you can qualify to get some
bonuses. First bonus is 2x2. 2 teammates, you bring on board, and witness 2 life
sales. Once that’s done, you get $100. Most people do that in like a week. It’s really
fast. Once you do that again, you get 4 team mates total, you witness 4 life sales
total, and get your license, you get $400. So we’re gonna give you $500 bonus just
for learning the business.
So how fast do you wanna make an extra $500 while you’re just learning?
Give app. The IBA. You wanna fill out the first page and all the background questions
about you, the company has to check you out. Make sure you have a clean
background, you’re working with families. Just fill out the information, like if you
had any felonies. This page is just asking if you’re telling the truth about
bankruptcies. And liens. This page is optional just talks about what you’re doing
currently. The bottom do you have any financial licenses currently? Ok then don’t
worry about it. This page is just stating that you’re telling the truth on the
application. You sign the top, RVP signs bottom. This page you sign and date top and
bottom and put your bank info to take care of the 99…it will take care of all your
licenses. Put the bank info down so you can get direct deposit and not checks. DO
you want something to drink? I’ll be right back to check on you.
You all done? Great, let me just check this, usually people forget to put their email
address. Ok it looks good. So to get started it’s not really what you know in business
it’s who you know. So to get started we’re going to get you to make a training list.
Jackie put 94 people on her training list when she started back in August 2010. From
that list she got clients, team mates and referrals. One person on the list didn’t want
to do the business but he knew someone who ended up becoming a divisional leader
with the company. But if she never would have put down that person, the divionsal
leader wouldn’t have happened. So every single person is important. They either
need what we do, everybody would possibly need more income, or knows
somebody that needs what we do. So everybody on that list is very important. So
you wanna fill out the list front to back every single person is important. Together
we’re going to qualify the list. We’re going to figure out who we should go see, who
we should invite up or who can give referrals. Every single person is important. That
one person you don’t put down is probably drowning in debt. The person you don’t
put down could be trying to save up money for their kids for college. The one person
you don’t put down could be dying a week from now. You don’t know. Every single
person you put down is important. So you just go through your phone, write down
everyone if they’re married, have kids, just check it off, the age if you know that
exactly what they do, they more you put down the better. We’re going to go through
this list together and qualify it together. Then we’ll make some phone calls together.
Before that we’re going to role play. Everything is just step by step. There’s a lot of
information but we’re going to do it step by step.