Financial advising with a

EP 70 | Business Development and Prospecting Opportunities through Medicare with Scott Nelson

11.10.21 | 0 Market Scale

Scott Nelson is the founder and CEO of Thrive Medicare, a fee-only financial services firm dedicated to helping clients live happy, comfortable lives by guiding them reach their financial goals. After nearly two decades of supporting advisors and their clients through Thrive Wealth Strategies, Scott built Thrive Medicare as a platform that offers training, mentorship programs, direct client support, and referral networks to assist financial advisors in the United States. 

Scott joins me today to discuss how financial advisors can use Medicare as a prospecting and business development tool. He discusses how he pivoted from being a financial advisor to starting his Medicare services business and how he grew it through referrals. He describes why Medicare is a “fragmented” industry. He also explains how offering Medicare advice can build trust between a financial advisor and their client.

 

“Medicare is the best prospecting tool you’ll have.” - Scott Nelson

 

This week on The Model FA Podcast: 

        How Scott launched his Medicare business

        Why Medicare is a fragmented industry and how it’s different from the financial advisory industry

        How offering Medicare can benefit financial advisors

        The “give-to-get” offer and why clients don’t look for a holistic fiduciary planner

        How the Medicare process can give you the opportunity to present your professionalism and perform fact-finding

        Medicare season and using Medicare as a tool to get referrals

        Why offering Medicare as a value-add gets you more referrals as a financial advisor

 

Our Favorite Quotes: 

        “Marketing is a creative and ethical way to get someone’s attention and trick them into hanging out with you.” - David DeCelle

        “Of a hundred people you’re asking, not all are going to sign up for Medicare—but all one hundred will ask you for advice.” - Scott Nelson

        “Rarely will a client say, I need to find a holistic planner and address this entire thing! It’s usually a particular problem they need to work through, and it’s the adviser’s job to help them.” - David DeCelle

 

Connect with Scott Nelson: 

        Thrive Medicare Strategies

        Scott Nelson on LinkedIn

        Email: [email protected]

 

About the Model FA Podcast 

The Model FA podcast is a show for fiduciary financial advisors. In each episode, our host David DeCelle sits down with industry experts, strategic thinkers, and advisors to explore what it takes  to build a successful practice — and have an abundant life in the process. We believe in continuous learning, tactical advice, and strategies that work — no “gotchas” or BS. Join us to hear stories from successful financial advisors, get actionable ideas from experts, and re-discover your drive to build the practice of your dreams. 

Did you like this conversation? Then leave us a rating and a review in whatever podcast player you use. We would love your feedback, and your ratings help us reach more advisors with ideas for growing their practices, attracting great clients, and achieving a better quality of life. While you are there, feel free to share your ideas about future podcast guests or topics you’d love to see covered. 

Our Team:

President of Model FA, David DeCelle 

 

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FULL TRANSCRIPT

Scott Nelson  00:07

Sometimes it's a more powerful thing when you can sit across the table from someone and say, “What you currently have is right, and if it's not, please contact me again in the future,” and now they're going to trust you even more. Or, “That group plan you have, I wouldn't switch that. That's great. So, your Medicare is all set, thank you very much for your time.” And then now they're on your list and they realize you're not a salesperson anymore. You're now an advisor.

 

David DeCelle  00:33

Welcome Model FAs, David DeCelle here, president of Model FA and your podcast host. I'm excited to bring to you Scott Nelson today. We're going to be talking about Medicare, and not in the sense of what is Medicare and the nuts and bolts and things like that. And we'll be sharing some resources and guide you to those if you do want to learn more about that, but more so how Medicare can be used as a business development opportunity for the clients and prospects in your world. So with that, Scott Nelson joins us. He is the founder and CEO of Thrive Medicare that was started back in 2015, after nearly two decades supporting advisors and their clients through Thrive wealth strategies. As one of the first financial advisors in the US to recognize the importance of Medicare to his clients’ futures, Scott has built Thrive Medicare into a trusted platform for financial advisors across the US, with training, mentorship programs, referral networks, and direct client support. Today Thrive works with hundreds of financial advisors across the country; hundreds of high net worth financial advisory clients are referred to thrive each year for smart guidance in world class support, and they are growing year over year. His goal is to become the nation's trusted source for fair, friendly, and accessible guidance to Medicare. So with that, Scott, looking forward to the show, and welcome.

 

Scott Nelson  01:56

Thank you, this is a great opportunity to get the word out on such a timely topic with our Medicare season approaching.

 

David DeCelle  02:02

Love it. So give me some background. So before you got into the Medicare space, I guess just bring us back in time a little bit.

 

Scott Nelson  02:09

We can all remember when we first started as financial advisors, I was brand new in the business. And we had the stack of leads as your brand new advisor; they give you these old leads, like 500 of them to just pound the phones and pound the phones. And it wasn't the way I necessarily saw myself building my business, but as the only resource I had at that point. So a couple years into the business, a humongous change happened. Now tell me if this sounds familiar, because it just happened recently, again. The government offered an amazing benefit to the population, it was extremely complicated, and they only gave you a short window to sign up for it. And at that point, if you didn't sign up for it, they gave you a penalty if you didn't. And that's what happened in Medicare a couple years into my business. They offered a prescription drug plan for the first time ever to people over 65. Now I got a phone call from one client who asked me about, what do I do about my Medicare prescription drug plan? Now I'm licensed to do life and health like most financial advisors, but I didn't know the answer to it. So I really just shrugged my shoulders and I said, let me ask around. An hour later, my second client over 65 called me with the same exact question. So I walked around my office and there was literally 30 doors to knock on. I asked every single other advisor, some of my managers, some of my mentors, the same question my clients were asking me and not one single person knew the answer. So I thought to myself, how complicated could this be? So what I did is I actually, if you think back to the mid 2000s — 2004–5 range — the internet existed, but it wasn't the same as it is today; where right now if I called up my mom and said, “Hey, Mom, take out your iPad, go to Yelp or Google and figure out the best new Thai restaurant in your town,” she could probably do it. But if I said something like that to her back in 2004, she would have thought I was teasing her. And that's what the people over 65 are facing. In my state, there were literally fourteen companies with three plans each. So there's 42 different choices to make, and really no good way to research it. So when I went to try and do this research, you have to call the 1-800 number and talk to a specific company about their specific plans. And every single one of them wanted to send a salesperson to my house to sell me a Medicare plan. And I just was cringing thinking, why is this like this? So I wish I had a picture of my office back then because I literally had stacks and stacks of kits from these Medicare companies to research. I took out some spreadsheets —since I was only a couple years in the business, I could actually afford the time to do this research. And I only had only six clients over 65 at that point in my career, and I figured out two things. Number one, it was much more complicated than I ever gave it credit for. And number two, there wasn't one right plan for everybody. You know, after all that research, I couldn't go to every single client and say, “Hey, this is the right plan, sign up for it. And here's how to do it.” So that's how I got started with it. And the reason I made it such a large part of my business was the feedback I received from my clients. I only helped six people and I barely got paid to do this type of advice, but the value it added to my relationship was immense and I was shocked by it. So the first year I had six of them, and then the following year, all my clients went back to their daily lives. And in retirement, they were playing cards their friends or socializing, and the topic of Medicare invariably came up. The second year, based on those six referrals, six clients, I received over 20 referrals to new clients just based on the Medicare opportunity because they were lacking this type of advice. At that point, I was on the radar of these Medicare companies, and I got a phone call from one of them saying, “Hey, we never recruited you. We never trained you. Your client satisfaction scores are through the roof. Who are you?” After a while, long story short cut to the end of it, they asked me to be the lead presenter for their Medicare 101 in my local area. They said, if you pick a couple of towns, we’ll give you the information you need, and we want to help have you communicate this to the public. And that's how I launched my Medicare business.

 

David DeCelle  05:44

Awesome. Now, when you think about Medicare at that point in time, while I'm hearing, or if I'm hearing correctly, it wasn't very easy for the client to take a look at what their options were. It's not like there was a website that was like aggregating these various things and comparing of plans. It was just basically a fragmented industry where clients would have to go and do that on their own, all that research, and in turn, potentially get sold along the way by one of those companies, as opposed to sort of an unbiased approach; because now you partner up with financial advisors to help them with this planning. Is that correct?

 

Scott Nelson 

Correct.

 

David DeCelle

Okay, so you serve, essentially, as an extension of that financial advisor. So I guess how does that aggregation work now? How do they go about comparing plans based on the research that you've done and the information that you have? Is it a phone call with you or your team? Or is there a website that they go to, to compare the plans? How does that experience work for the advisor?

 

Scott Nelson  06:43

Well, believe it or not, all these years later, they haven't made it easier on the consumer. I read a survey last year that I've referred to about 100 times now. People over 65 were polled, and they're asked these pleasant experiences that they dread occur all the time. Number one was colonoscopy. Number two was shopping for Medicare. Now, just to kind of drive this point home, what I'll do, David right now is I'm going to go on to Google Medicare and your zip code. And I'm just gonna, just very friendly, put your phone number in, and you tell me what happens. I'm joking, because that's the last thing you ever want to do is go to one of these search engines and put your phone number. You will be bombarded with telephone calls. And I will get to your answer, but just to kind of show you the power of this. My father when he was turning 65, his Kryptonite was telemarketing. He just — that phone rings and a telemarketer — it just ruined his day. The six months leading up to his 65th birthday, I gave him — at that point in time he was in a wheelchair. So I gave him a couple of grocery bags, the paper ones. I said, every single piece of junk mail get from Medicare, just do me a favor, put in that bag, and I'll help you go through it when I come by. In the six months before his 65th birthday, he filled up three of those grocery bags.  Literally for those six months, I could not call him without — you know how if a telemarketer calls you, there might be a two second silence before they start talking. If I called my dad, I had to go Dad, Dad, Dad, Dad, Dad, Dad, Dad, Dad, so he could hear my voice immediately and not hang up on me. So it's a miserable experience still. And there's really no independent — you know, a lot of the advisors that are listening to this podcast, we're independent, we pride ourselves to be able to choose what to offer our clients and not have a product and a sort of product to sell or be incentivized to sell one thing over the other. That's not the way Medicare works. You call up on of these numbers, they're gonna have a round peg that they're gonna fit into a square hole. So what I've done is over the course of time, I've realized that there's only one major decision, and I'll get into that throughout this podcast. But there's only one decision I ask my clients to make, or prospects to make. And if they can tell me which philosophy they prefer, it makes my job easy, and I can fill that round hole with round peg. So I've actually developed some intake forms, and I launched a website a couple years back where I really walked the people through the decision making process. And I've made it systematized where I can, no matter which market you're in, as long as I have a little bit of time to research it ahead, myself on my team, we can give independent advice in whatever market it may be, just by asking some simple questions. We really just need to know which philosophy you prefer, what your doctors are, what your prescriptions are, what your zip code is; and we can find, we can analyze the plans ahead of time. It might take fifteen minutes before the meeting, half hour to present to the client, and fifteen minutes to take a telephone application. And at that point, our team can make the other financial advisors that are referring us look like superstars; keep their clients away from the Medicare sharks that are swimming around them. And I call them sharks because these Medicare people, they're going to sell what they want to sell. And invariably, there's going to be a follow up saying next time the market dips 3%, guess what they're going to offer your clients? Some sort of indexed or fixed annuity or some product that they can sell with their life license. So, not just making you look great to your clients and giving them the peace of mind that they're getting some — they're not going to go for an annual colonoscopy when it comes to Medicare — giving them that peace of mind, making you more referralable, but it keeps your clients and ensures your client base from putting someone else across the table from them and giving them another voice that's not yours.

 

David DeCelle  09:53

I would imagine, and I can certainly be wrong on this, but like on a per client basis. Medicare isn't like a massive revenue opportunity for like a client scenario. It's more of a, I don't want to call it a loss leader because there's still some compensation involved, but basically, you're helping them with a particular need in the hopes that through adding that value, you've done a good enough job to where they're open to continued conversations down the financial planning path. But for sakes of those who are listening that may not be involved in this space at all at this point, what does it look like in terms of revenue that they would get in serving a person as it relates to Medicare?

 

Scott Nelson  10:33

It’s more like you're dealing with a smaller account. So I think of Medicare as, for me personally, as me getting paid to prospect. So you're not going to get paid a ton to make a Medicare sale, but it gives you an opportunity to meet new people. There's all the statistics where 10,000 people a day turn 65, we've all heard those. And most people, financial advisors at least, are talking about how to budget to pay for that expense. They're not talking about how to minimize that expense. And you can tell your clients all the time, hey, this is how much Medicare is going to cost you in the next 30 years. But still, your client has to go somewhere else to get that, implement that. So for me, most of my new financial planning clients the first 10 years of my career came through my Medicare seminar. So I see it as a great way to prospect and get, you said loss leader. But over the course of time, it became definitely an additional revenue source. So I've definitely helped dozens of other advisors who want to make this a prospecting tool for them to get in front of more people, help them figure out their market, figure out if there's a way to implement this, use some of the resources I’ve developed, and recreate what I've done. That's certainly a path. A lot of the people I've helped do that, after a year or two of doing it, there's a fall out of it. There's people who finally say this is a little bit more complicated, I'd rather have a trusted place to refer to. So that's why, a couple years into me training other people, I was approached to ask, “hey, can you be my in house Medicare expert, even though you're across the country? Can I set up a 15 minute Zoom with my clients for you to introduce it and help them figure this out?” So there's definitely the two paths; one if you want to make it like your own. I'm sure a lot of people listening to this did social security seminars. You didn’t get paid to give social security advice, but you know that people 62 to 67 have this question at the top of their minds. And if you can present to them, show them how knowledgeable you are, show them your professionalism, and show them the level of advice and penance that you're giving, it's definitely an opportunity to strike up a new relationship. If you are not interested in making it the prospecting point, and you just want to make sure that you're servicing your clients well, you can definitely refer them to myself or another Medicare agent that you can trust. One neat thing about Medicare is if you have a life and health license, you can actually refer a Medicare business out and you receive a finder fee back. So you'd have to obviously talk to your broker dealers to find out if you're allowed to get referral fees, but I have people who refer me business and every single time I make a sale, I'm able to give them a finder's fee for those Medicare. So if you wanted to make it a revenue stream, I mean, at this point, 50% of my revenue comes from Medicare, and I've been doing it for 15 years. So it is a significant source of revenue for me and a significant source of new clients. But if you just want to make it a value add for your client base, that's an option as well.

 

David DeCelle  13:07

So that additional context is helpful. But talking about specific numbers, if I bring you someone who's 65 years old, and you help them with their Medicare, and I'm having you do most of the work because I don't want to be the expert in this scenario, what would on average or a range, what would my compensation be to me?

 

Scott Nelson  13:27

Why don't I do the average because every state has a different contract and are different. So one nice thing is depending on whether you do advantages or supplements, the advantage commissions in each state are uniform to help people not necessarily get a bonus for selling a certain product over the other. So if someone's turning 65, and they sign up for a Medicare Advantage plan, it's roughly a $500 one time commission, and then each time it renews you get half that. So your renewal commission is say 250; some states are as little as 300, some states or as much as 600. So it's a range, but from the states I've seen, let’s make the average 500. So if you making $500 up front and the person's on that plan for 10 years, the lifetime value might be a $3,000 lifetime value.

 

David DeCelle

Awesome.

 

Patrick Brewer  14:10

Hey, Model FAs, I know you're enjoying this conversation, but I wanted to take a quick break to talk to you about the Model FA Accelerator. This is a unique collaboration between us and you, where we help you build a financial advising practice that you can be proud of. We focus on the foundational concepts around how to pick a niche or a specialization, how to price your services, how to construct an offer that people are going to buy, and then how to market it and sell it in a way that'll get people to sign on the dotted line and become clients of your firm, all while giving you the information to scale and set up workflows and operational processes that will allow you to reclaim your time and build a practice that doesn't run you. So if you'd like to hear more about that go to www.ModelFA.com/accelerator or www.ModelFA.com. Hover over Work With Us and click on accelerator. Hope to see in the program.

 

David DeCelle  15:00

So the way I view it, now that I'm making sense of it on my end, is rather than — because we in our business development process that we help advisors with, marketing is, in order to get someone's attention, it's just a creative and ethical way to trick someone to hang out with you, so that you can start to build a relationship and see if it makes sense to exchange some dollars and actually start working together. Now, after you initially get their attention, then it's all about offering what we call a give to get offer. A give to get offer is, if you think about an entire financial plan is like a pie, you take out a slice of that pie and help the client with that more pressing issue, because very rarely does someone wake up and look at their spouse, or look in the mirror and say, I need to find a fiduciary, holistic planner, and I need to address this entire thing. Usually, it's, okay, I need to make a decision on Medicare, or I need to get my estate plan done, or I have an old 401(k) that I need to roll over. It's a particular problem or challenge that they need to work through, and then it's the advisors job to help them with that, and then ultimately bring them through the financial planning process. So I view this as a slice of that pie, so to speak, and there's a Medicare season, if I'm not mistaken, fall into winter could be a great way to get referrals. So if you're working with say, I know a lot of folks are working in the retiree space and pre retiree space. So it's great to say, hey, remember how we helped you with that Medicare planning? Well, it's Medicare season again. Who in your world do you think that would be relevant for, because I'd be happy to have a conversation with them and see if we can be of service in that regard. Or I think back to when I first started as an advisor, I was working with younger folks, and I had to work with a lot of those younger folks to get the revenue up, because they just didn't have enough time on this earth to accumulate assets that were meaningful enough to where I could have a lower volume, higher per revenue client scenario. So I was always looking for ways to what I called prospect up and get introduced to their parents, and some of the mistakes I made in that stage of my life was offering an entire financial plan for them. And it's just a big undertaking, it's overwhelming, it's an easy can to kick down the road. But I view this as a way to get referred to some of your clients’ parents who may be in that 65 range, say, hey, let me help you with this. And then throughout that process, if they have a good experience, you do a good job building the relationship, they're more likely to, in turn, be open to continuing conversations into the entire financial planning process. I view this as a way to obviously help them but also to develop business. And there's an added benefit that you happen to perhaps make some revenue off this as well de minimis in the beginning. But over time, if there's enough folks that bring you through, who knows maybe that revenue turns into your marketing budget right there. Maybe you use that for some other aspect of your business. I also view this — I have a client of mine, actually, who they have some junior advisors where every fall, they're just presenting, they're on the phone, they're helping folks with this, and it's a good sort of feed their funnel into financial planning. So that kind of leads me to my next question. So let's say you come across 100 people that you're able to help with Medicare; not everyone's going to be a qualified prospect for financial planning. So do you find that it's like 80% of folks will be a good financial planning client? Do you find that it's 5% of folks? What rough percentage is it so that advisors can start to think through, okay, what's the actual revenue opportunity? Because if they have, say, $5,000, or $10,000, average revenue per client, and they know, hey, if I talked to 100 people about this, if 10 of them say yes, that's $5,000, based on the $500 commission, but then maybe it's also another, what’s that, $50,000, if they have a $5,000 per revenue average client. So help me understand conversion rate, for lack of a better way to put it, on folks that they would help with Medicare compared to who would continue to move forward through the financial planning process?

 

Scott Nelson  19:10

That's a great question. There's a lot in there, too, so I want to address a couple of things you said, as you were leading up to that question. So it definitely makes you infinitely more referable and being referred up. That's probably the best prospecting tool you have, as I'm sure you've noticed this. You can save a client $300 on something. If they're making a couple $100,000 and your saving them $300, they're happy. But if their aging parent, if you can save their aging parent $300 who might have not have the best finances in the world, the same $300 that makes you good as gold to your client. People want to help their relatives and so a lot of times you might get aged up, and a lot of times more often than not the older generation — I mean, how often does your mom or your grandma call tech support? My mother in law was just asking me how to do a video clip for YouTube, and I was like, am I gonna have to explain this to over the telephone? So people are relying on their younger kids, and it's not necessarily their expertise. So it's going to definitely put you in front of your clients’ parents, for sure. And especially if it's something you're doing on an annual basis, your clients that you've helped in the past. I've had clients come to ten of my Medicare seminars, and each year, they bring their sister or different friend and stuff like that. They go for the refresher course, because they know me, and then they bring a couple people each year. So it's definitely makes you more referable. One nice thing is it's a short selling season, like you mentioned, October 15 through December 7. You have a seven week period every single year where people are trained that this is when they're going to do this. So you might do some seminars, you might do some of that, but it's compact. And the way you follow up with those people, you nailed it. You're going to end up not necessarily converting all these people, all the great prospects to it. But I still get people years after the fact who signed up for Medicare plan, maybe three or four years ago; they’ve been invited to a market outlook seminar, they've been invited to an estate planning seminar, they’re invited to all these different presentations I've done, they've been on my mailing list. And eventually someone might say, hey, I do have that old 401(k). My other financial advisor hasn't reached out to me in three years, and you've reached out to me fifteen times. Maybe I'll want your opinion on it. So it might not be an immediate thing. So the percentages, and it really depends on how you want to follow up on how you want to track the percentages and what your minimum client is. You mentioned a junior advisor. A lot of times, through these Medicare seminars, someone might have a $50,000 CD or a long term care need. If you consider a transaction a client, your percentages will go up. Or if you have a junior advisor who wants to sell a $50,000 fixed annuity, there's definitely those opportunities. But like I said, I've built my practice solely on Medicare and Medicare referrals. So the opportunity is there. My rough numbers are 10%. So for every 10 enrollments, eventually, whether it be three months or three years, 10% of those people become financial planning clients. And it gives you an opportunity to present your professionalism and, more importantly, do some fact finding. There's questions during the Medicare sales process, like how much are you paying for Medicare Part B? The answer is going to tell you how much income they make. So, you can do some still fact finding. And if someone says, I pay $420 a month for Medicare Part B, a lightbulb goes off in my mind saying that person makes more than $300,000, and he's 70 years old. He's probably got some major estate planning things. So I'm going to make sure I put them on my estate planning trip list.

 

David DeCelle  22:15

Yeah, I didn't even take into consideration the fact that if you're doing this with decent enough volume, I think depending on the advisors bandwidth, maybe it makes sense for him or her to do this themselves. I lean more so towards having someone else do it for you, then the thing I didn't take into consideration is the contact info that you have. And if you're following up with something valuable over time, and staying in front of them, they're gonna potentially trust you some more. And like we've run, for example, webinars.

 

Scott Nelson  22:47

Before you go on, let me expand on what you just said. So out of the 100 people you're asking, not all 100 is going to sign up for Medicare, but all 100 are going to ask me for my advice. And sometimes it's a more powerful thing when you can sit across the table from someone and say, “What you currently have is right. And if it's not, please contact me again the future,” and now they're going to trust you even more. Or, “That group plan you have, I wouldn't switch that, that's great. So your Medicare is all set, thank you very much for your time.” And then now they're on your list and they realize you're not a salesperson anymore. You're now an advisor. And, so whereas I'm not out there to try and make a bunch of $500 sales. I'm out there to try and market myself as a professional. And if you show people that you're doing what's right, you're going to stand out from the crowd of all the other Medicare sharks and all these other people trying to give them colonoscopies each year.

 

David DeCelle  23:33

Yeah, well, I was gonna say too, is we help a lot of people with their webinars and seminars. And what we notice is that the longer they run those, the more successful they are because your list just continues to get built. I mean, if you're retargeting for the other things that may be relevant to them, like social security planning after the Medicare stuff, or estate planning, things along those lines, and they've shown perhaps that they're open to learning. So if they continue to learn from you, they're more likely to do business ultimately.

 

Scott Nelson  24:04

I could definitely learn a lot from you. Last year was the first year I switched from completely in person, old school, 2005 style marketing, where I was sending out invites and direct mail and presenting, physical location, to trying to switch. I invested some money on a very professional Medicare 101 video, but I really need to learn about the Facebook ads and retargeting and things like that. And so basically, if you want to talk offline on that, I’d love the opportunity to hear your thoughts on my best way to start transitioning more digitally.

 

David DeCelle  24:33

Yeah, that could be good. I think moving forward, our belief is that it's going to be more a combination of the two, because webinars have been working fairly well. But over time, we think that people will just get webinar fatigue over time, and they're potentially a little bit more distracted because they have their phones on them and other things pop up on their computer. So we view it as the fact that we will pivot back toward seminars as everything continues to open up, and then part of the retargeting will be through those webinars and perhaps sprinkle in a live webinar here or there. So, certainly we can talk about that.

 

Scott Nelson  25:08

Even as the warmup process. So if another advisor refers a client to me, I'll give them an option to send their client a YouTube link of the 30-minute Medicare 101. But I say really all you need to do, like I said in the beginning, there's one decision; what philosophy do you like better? So I have a seven minute clip that breaks down the difference between Advantage plans and Supplement plans. And I tell people, just watch that and tell me which plan is talking to you? Which philosophy do you prefer? And if they watch that seven minute clip, and they come to me, and they say, I like this plan versus this, here's my zip code, here's my doctors — my job is simple; I was able to pick them a plan. So I'm noticing the power of using the digital means to try and educate the people before you meet with them. And then the conversations really is just you giving your expertise. I got an email the other day, someone said, I've watched your video three times, and I've sent it 30 different people; every single person I talked to, when they bring up Medicare, I forward your video to it. And I'm like, well, that's pretty awesome.

 

David DeCelle  26:02

So with that being said, I feel like we have a good understanding of the opportunity and how that can be used as a value add and perhaps business development tool as well. So I know that there may be some folks that get excited about that, but don't necessarily know a ton about Medicare at this point in time. So if I'm an advisor, and I'm listening to this, I say, hey, that could be pretty intriguing, and I think I could see myself implementing that, what's the best way to get in touch you, Scott?

 

Scott Nelson  26:30

So two ways I would suggest. Number one is check out my Medicare website, it's MedicarebyThrive.com. And when you go to the homepage, it's going to be two paths you can go: either for clients or for advisors. So if you go to the advisor section, there's going to be a button to click, learn more about this opportunity. Really, it's a page about the opportunity, but it also puts you in contact with me, a form to fill in. And I'd also suggest if you are an advisor, go to see what the client sees. If you refer a client to me, got to the client side and see kind of the resources and the education of it. So, I would definitely suggest going to MedicarebyThrive.com and checking out both sides of the website; or if you just want to go directly to me, my email is [email protected]

 

David DeCelle  27:12

Awesome. Appreciate that. So before we wrap up, I do ask all my guests what their favorite books are or what their favorite book is. And when we were talking before, I kind of chuckled when I heard the theme of books, but you did mention that you had a nice little spin on it. So you had mentioned I believe you said you have a five year old, so you jokingly said any books that have to do with dinosaurs. But you said you would tie that into some other stuff here. So tell me why you said that?

 

Scott Nelson  27:40

I've got actually three little kids. Seven, five, and two. So, there's certain types of people who know a ton about dinosaurs. It's either you’re a paleontologist, a five year old, or a parent of a five year old. And my older kid was the same way at the same age; just obsessed with them. And when I read these books — I got one right on my desk from reading it to them this morning — when I read these books, it really hits home to me because being a numbers person, we talk about longevity and all these legacies and all this different stuff like that. We've only as humans been on this earth for such a short period of time. And you take a look at the T rex was on earth for 100 million years, so what kind of mark do you want to leave? And, not just he's obsessed with dinosaurs, he wants to know who lived when and do they know each other? So anyway, right now I'm in a deep dive of dinosaurs. You ask me any dinosaur fact, I can rattle it off on who lived when and on, but for me, I think, with our practice, longevity and legacy are the two things that we talk to clients about, and so I think dinosaurs fits right into there.

 

David DeCelle  28:37

Love it. Well, Scott, I appreciate you joining. For those of you who are listening, as I mentioned, this could be an excellent business development opportunity for you, a way to add value to clients and the folks in their world. So if you found this valuable, and you think others would find it valuable, go ahead and click that share button. Let them know what the episode is about and why they should listen. And if you would be so kind as to leave us a review, I'd really appreciate that as well. And if you take a screenshot of that review, once it's posted, and shoot me a text to 978-228-2338 with the word Medicare alongside it, so I know which episode it's in regards to, we have a video from an event that we had done recently. It goes through advisor DNA, is what we call it; specialization with marketing and some business development oriented stuff, and I'd be happy to share that with you as a thank you for doing so. So again, that number is 978-228-2338. And with that, Scott, appreciate you joining us today, and for everyone listening, we will see you on the next episode. Take care.