Great things are happening to past winners of Advisor Today’s Four under Forty Award winners. One of them, Ed Deutschlander, CLU, CLF, is now CEO-elect of a major financial-services firm. Here is what he had to say when we caught up with him recently.
Advisor Today: Has your practice changed since you won the Four Under Forty Award?
Ed Deutschlander: At the time I won the award, I was executive vice president of North Star Resource Group. Since then, I’ve become president of the company. In the summer of 2011, I took on a new role as CEO-elect and will be taking over the role of CEO when the current chairman and CEO retires in the near future. My role has changed in a way that now I am responsible for the entire company.
AT: Do you have any plans to pursue other areas this year?
Deutschlander: About a year and a half ago, I was invited to join GAMA Foundation’s Board of Trustees and I am also on the Board of the Scott Richards North Star Charitable Foundation.
AT: What advice would you give to advisors who are just beginning their careers?
Deutschlander: They must read the book titled Game of Numbers by Nick Murray. They should also ensure that they not only have a mentor who they are learning from and doing work with, but they should get “adopted” as well. By “adopted,” I mean they should demonstrate to a successful financial advisor why one of the senior advisors in the company should take a strong interest in adopting them. Most successful people in the industry get adopted in their first five years in the business.
They should also consistently try to write 100 cases per year (whether it be life insurance, disability income insurance, long-term-care insurance, etc.) and build a healthy, sustainable practice. If they do it this way, successful business will come with time.
In addition, they should prioritize instead of manage their time. And they should realize that prospecting is very important in this business if they really take to heart that their commitment is to help others. To have a more purposeful life and help others, you can’t be focusing inward. If you make this commitment, you will have a lot of success in helping others get what they want, and in turn, you will get what you want.
AT: Would you advise them to join NAIFA?
Deutschlander: I think that an advisor who is not a member of NAIFA does not deserve to be in the business. NAIFA is the only advocate protecting us. If an advisor benefits from promoting and selling his products and is not a member of NAIFA, he is being hypocritical. NAIFA continuously makes strides on Capitol Hill to protect and support its members.
Nominate a rising star now
If you know a NAIFA member like Ed who is making a difference in his or her profession and community, nominate him or her for the Four Under Forty Award today. Click here to download the nomination form (PDF) or find it in the March/April issue of Advisor Today.
Don’t hesitate. Send in your nomination form today--your candidate might be just the one who has what it takes to join the ranks of the Four Under Forty!