Focus on Risk: Have that Extended Care Planning Discussion!

Do you have clients that need to start the Extended Care/ Long-Term Care conversation? On today's episode of #TheAmberStittShow, we discuss how you can get started as your clients need your help!

Kelly and I want you to know there are so many resources available to you.

In this episode, we discuss:

-What can planners do, to be more involved?
-What educational resources are available to you?
-We provide how you can partner with experts
-We provide resources and refer to associations that may be a good fit for you (especially if you are in Ohio)

-Your Local FPA® https://www.financialplanningassociation.org/#:~:text=The%20Financial%20Planning%20Association%C2%AE,in%20the%20financial%20planning%20process.

-The CLTC®
https://www.ltc-cltc.com/

-Central Ohio Care Planning Council
https://www.careohio.org/Central-Ohio-Care-Planning-Council.htm

-Central Ohio Folds of Honor
https://centralohio.foldsofhonor.org/

-Genworth Cost of Care Study
https://www.genworth.com/aging-and-you/finances/cost-of-care.html

Kelly's team can be found here at www.SteadfastAgents.com and please follow her on:

Her podcast is here: steadfastcareplanning.buzzsprout.com.
Her YouTube Channel: https://www.youtube.com/channel/UCqn0cM0jLTwDTTzkrPfSkTg

-Linkedin https://www.linkedin.com/in/kelly-augspurger/
-Instagram @steadfastagents
-Facebook https://www.facebook.com/kelly.glassburnaugspurger

Transcript

Amber
Hello, and welcome to the Amber Stitt Show. I am your host, Amber Stitt. And today I welcome back my friend and colleague Kelly back to the show. Welcome, Kelly. Thanks for coming back!

Kelly 0:15
Hey, Amber. Great to be back!

Amber 0:17
So today I want to customize this episode to talk to our colleagues in the industry. Because within our first episode, we did a deep dive into long-term care planning, but we also have friends in the industry that want to do more for their clients. And so I know you do a ton with different organizations, and I'm not going to steal your thunder. But let's have you go back and talk a little bit about yourself and your practice, but tell our audience how you can potentially help them not only with education, but doing more for their clients.

Kelly 0:49
Yeah, thanks, Amber. Well, to start Kelly Augspurger I am a certified senior advisor and Long Term Care Insurance Specialist. I have a podcast steadfast care planning, which launched November 1, and I'll be having industry professional conversations about planning for extended care and even talking about challenges that older adults often face. So that's a place where people can find me to learn more about planning for extended care. But aside from my business and helping clients plan for extended care and coming up with insurance solutions, I am also an instructor for the certification for long-term care at the LPC and what we do is we teach financial planners how to engage in effective LTC planning conversations. So this is really going to help advisors feel confident and competent enough to be able to open up client conversations about extended care planning. But oftentimes this is for those who don't want to be a long-term care insurance specialist, but they know that the conversation is really important and they need to have it but they're just not sure how to engage. So I teach classes on this helping planners to really talk with their clients. About that. We do have actually a new class that came out recently it's called Foundations and it is going to it's a four-hour class and it is going to equip advisors even more so in the conversation what are you know, important points to consider what are questions to ask how do you really effectively engage with your clients when bringing this topic up? Because let's face it, it's a very emotional topic and can feel uncomfortable. Sure, right? Like if you a financial professional, they're used to you coming to you for numbers and figures and plans, and then all of a sudden you're starting to talk to them about planning for extended care, which is very sensitive and personal. It can feel awkward. So we're trying to help planners come to the table more confident and comfortable to have these conversations.

Amber 2:57
And I think that's the point of that. Title of foundations. That's really a great timeframe of four hours or you can there's a certification that comes with that right?

Kelly 3:06
So you don't get a designation. You basically get a certificate like you complete the class but it's not an official designation. If you want the full cLTC you do have to take the 16-hour masterclass. Okay, but basically, I think one is a litigation buffer and to us providing you that courage, that competence, that confidence, to be able to, you know, to have those conversations but basically it's you know, you've completed this class. So, you know, in Yeah, efforts to have these conversations with your clients.

Amber 3:37
But as an advisor, you could link that up on your LinkedIn profile. I mean, that could be part of showcasing your resume that you do have that education behind your belt. And so, you know, that might be one way to start the conversation with your clients, but then work with somebody like yourself Kelly to bring in the knowledge can really have that that shared client capacity, where you don't necessarily have to be an expert in this product. You know, your clients need it, but they could use your team, to That's right, bring that product solution, whatever they want to choose. You have the education behind you to be able to help find and customize the right product for the client.

Kelly 4:14
That's right because let's face it, the industry the LTC industry, the insurance industry is is complex, the products work it's constantly evolving and underwriting changes and more products come to market and so it is important for financial planners to if you're not equipped in this to work with someone that knows it. So that you're really able to find the right solution for your client and you're not just you know, they don't have like a cookie cutter solution. You really have the right solution for your client. And so yes, oftentimes we see students financial planners that are joining this foundations class or other CLTC classes, and they're saying, you know, I don't want to be the specialist but hey, can I work with you and can we team up and partner together? Yeah, I absolutely like that. You know, that's what I do. I help financial planners in that capacity.

Amber 5:01
Well, and then you also have your independence, your independence, so that you can find in my teaching the course you guys are up to date, constantly and then you're also diving deep into all the products that are available. So that's just another added benefit for people.

CLTC Sponsorship 5:17
And now for a brief message from our show's sponsor is the premier long-term care planning designation. The CL TC certified in long-term care trading program focuses on the discipline of extended care planning, providing financial advisors with the tools to discuss longevity and its consequences on a family's lifestyle, and finances. Look for the cLTC designation when choosing an advisor.

Amber 5:48
Awesome, Kelly, I know that you're involved with a lot of different organizations and I think when I talk with advisors that might be new or might be coming into the industry. One thing that I've really done over the last few years is I've joined nonprofit committees. There's a way to kind of participate in building community. That's the fifth step of the Pathways of Peak Performance model you got to find your tribe and build that community out. So Kelly, let's talk a little bit about what you do in addition to working with the cLTC what else are you doing out there in the community?

Kelly 6:19
Yeah, the community is so important to me my husband, Adam, and our business. So when I got into the industry, I knew it was important to get connected. So where am I going to get connected? How am I going to get back? How am I going to get involved in professional development all these things? Well, the Financial Planning Association FPA just seemed like a natural fit. And so I joined them I am on the board of the central Ohio FPA now and so able to help in planning right and planning meetings. What kind of speakers do we want? I love the FPA because it has not only been great for my business and connecting our financial planners with professional development. It's been so amazing, right? How can we as financial professionals develop and expand and grow our knowledge and so it's been so beneficial for me and our business in that way. And so I would highly encourage planners out there like if you're not already involved in your local FPGA to look into it because you will get so much value outside of getting the fee from going to the meetings. You're having so much value from connecting with other planners learning best practices, what works for them what have they tried, you know, what kind of community connections they have? And could they connect them with those people? So I think that's a really great organization to consider. Another thing that I'm a part of is I'm on the board of the central Ohio Care Planning Council. And this is a group of professionals who provide information, knowledge, and advice to help with issues that much older communities do any kind of like doing a lot,

Amber 8:07
I just wish we could do more. But luckily we have things like this.

Kelly 8:11
That's right. That's right. Yeah, virtual options are amazing. And sometimes these options are virtual and in person, typically they're in person. I think there's you know when you can get new to me or you can get in the same room physically as another person or another group. It just seems almost even more meaningful, right? Energy really there is really that vibe, that energy is really able to connect well with people. So we try to do those on a monthly basis to educate the community in some capacity on different issues that older adults face. And hey, we are here as you know, your community advocates and partners to help you and whatever aspect that is so we have like myself as insurance, you know, long-term care insurance specialists. We have a financial planner, a state planner, a home care facility, home modifications, and a lot of different industries, but all serving older adults, so connected. Yeah, and actually the Care Planning Council is a national organization. So there are different chapters around the country that people can plug into, you know, and look to see if that's something that they're interested in getting involved in. So I would have, I would advise that I'm also on the Women in Business Committee for the Westfield Chamber of Commerce. And you know, love women in business, cheering every each and every woman on business on are people that are women that are in business. And so it's great to be able to have these quarterly luncheons and some men even come usually we have a few men that are brave to come to these but basically, we're supporting each other and we're providing professional development as well. So within other space to you know, really expand your network because at the end of the day when my clients come to me, you know, I don't do everything we don't do everything right we focus on what we do well, and the other areas that we're not practicing, we want to outsource those, we want a good referral, right like no trust so so I'm involved in these things so that I can happily and eagerly refer my clients to these other resources. So

Unknown 10:19
the referrals are key to like-minded individuals that are on the same page for thought leadership, continuing with their education and being on top of things for their clients. Those are the type of people we want to collaborate with you and I had that kind of that natural connection energy when we met at a conference. So joining some of these organizations can give you that and with women and insurance and financial services. I'm on the Phoenix board here in Arizona. It's we do have male members too, so we say brave enough, but I think the point is we're not trying to say less men, we want no or women and we want it to be a collective effort. So I like that you said that.

Kelly 10:58
Yeah, yeah. And then another organization that we support is Folds of Honor. My husband is on the young professional. board and I help it at different events, but basically, Folds of Honor is an incredible nonprofit nationwide. They provide scholarship money to spouses and kids of America's fallen and disabled servicemembers, and just recently expanded to incorporate America's first responders. Firefighters EMTs and paramedics. So it's great it's a great organization where you know, we are doing fundraising to help raise money for these family members, the spouses, and kids, because we you know, we understand that it's extremely difficult. they've sacrificed so much. And so how can we give back so that's something that that we are involved in, and then I'm often speaking at different venues, educating people on the importance of planning for extended care, you know what that looks like? And then my husband will also join me he's typically he's on the home auto and business side so he will sometimes join me in different capacities. But you know, talking about different important insurance considerations, and then we were volunteering and other capacities to whether it's, you know, Uptown Westerville for fourth Fridays or at our church in different capacities. So, yeah, we're quite involved in our community. I think it's amazing.

Amber 12:15
That's awesome. And so really, just to recap, this, you guys listening in, get involved and if you're not sure where to go, we will give you a recommendation. And I think what we'll do, Kelly is we're going to link up all of these association's organizations to the podcast show notes and description box so that we have people have access to that. And then in closing, I would say, well, let's have you just talk about how can people work with you and your team. I know we've talked about it a little bit, but is there anything else as far as resources go that people should know?

Kelly 12:50
Yeah, so people can find me on our website www.steadfastagents.com or on LinkedIn. I'm on LinkedIn a lot. So you can look me up on LinkedIn. And so those are a couple of places to find me. As far as resources go outside of the professional guidance and advice that I'm giving clients, planners, you know, reach out to me if you have questions and you want to talk about partnering together. But something that I'm really passionate about is education obviously, I am an instructor part-time and out in the community. But working with clients and advisors and planners one on one and giving them resources so that they can use them with their clients is really important to me, so I've created all kinds of different resources, you know, PDFs, interactive things that people can use. So they've got handouts, you know, a guide to long-term care insurance. We have videos on YouTube, too. That's right. That's right. That's right. I've got a YouTube right YouTube channel. But then I created a family roadmap, which is a 40 Plus page document, a guide to Extended Care Plan, and a survivor's guide. So giving people resources so that they can effectively plan to live well in the future. I mean, that's really the goal.

Amber 14:01
Well, thanks for coming back. Kelly glutton for punishment, right? Always great to be with you. Yeah. All right. So there's gonna be a lot of information that Kelly has talked about that I'm not going to share with the Pathways Audience. So thanks again for being here, everyone, and I hope that we've helped you and inspired you today to do something new if you need our help, let us know. Thanks for being here. Thanks, Amber. Thank you for joining us on today's episode of the amber Stitt show. For more information about the podcast books, articles, and more, please visit me at AmberStitt.com. Until next week, enjoy your journey at home and at work. Thank you for listening!