Collaboration and Critical Take-Aways: John Newton Russell Award Recipient & FFR Member, Guy Baker Credits Both
IRVINE, Calif., Sept. 5, 2019 /PRNewswire/ -- First Financial Resources (FFR) congratulates its member, Dr. Guy Baker of BMI Consulting, as the 2019 recipient of National Association of Insurance and Financial Advisors' (NAIFA) John Newton Russell Memorial Award. Baker is set to receive this esteemed award on September 14, 2019 at NAIFA's Performance + Purpose conference in Orlando, Florida. "It is pretty amazing. The past recipients are industry icons. I started with Pacific Life. John Newton Russell was a Pacific Life agent as well," comments Baker. The award recognizes Baker's decades of success, willingness to share insights and expertise, his mentoring activities, teaching, writing, speaking engagements and community service. "FFR applauds Guy for his many accomplishments. We are thrilled that Guy was chosen for the John Newton Russell Memorial Award," explains FFR CEO, Jud Imhoff.
With such a milestone, FFR took an opportunity to interview Guy:
3 Starting Point Tips
Guy Baker (G.B.): I started as a "college agent" in the late '60's when insurance companies had more structured career paths. I learned three things: 1) how to prospect; 2) how to sell; and 3) how to focus only on people predisposed to buy. My then-supervisor, Ralph Brown, pointed out that college students are not likely to buy life insurance. That early experience really set the tone for focus, discipline and commitment to my business.
Career Critical Take-Aways
G.B.: I qualified for Million Dollar Round Table (MDRT) and the company conference in my first year. Early success fueled my ambition, gave me confidence and helped me set higher goals. In 10 years, I accomplished all my career goals. It was "go-go" time. But I neglected to step back and look at the bigger picture. So, I made some costly business decisions and entered into a business partnership that was not the right fit. Eventually, I had to press "reset" and start over. The experience taught me four things: 1) If it doesn't fit your long-term goals and values, it's not a fit; 2) If it isn't a fit, fix it fast; delaying only compounds the costs and consequences; 3) keep going, don't give up; and 4) keep control of your financial destiny.
Why Collaborate
G.B.: When I started, it was rare to do joint work. My first talk at MDRT was "How Many Heads of Hair Can a Barber Cut?" This talk was about efficiency, delegation and time management. Collaboration makes sense. When we combine the skills and talents of two or more people, it has a multiplier effect. Early on, I knew to grow my business, I needed to delegate various aspects of the business. Collaboration lets you "work from your strengths."
Why I Joined. Why I Stay.
G.B.: I joined FFR because it fit for me. FFR's business model, "go-direct, keep control," lets me do the best for my clients, have access to all the top insurance companies and keep control of my business. I stay because I like FFR's leaders and trust their motives. FFR continues to improve and expand on their model. There is no "gamesmanship" with members. FFR's actions are consistent with their marketing story. Trust is all we have in this business. FFR has maintained integrity.
Lessons Learned
G.B.: Share what works and doesn't work. Initially, I benefited from the generosity of other financial advisors at MDRT. It prompted me to give back. FFR's culture really promotes and supports idea sharing and collaboration among its members. Giving back motivated me to write my books. Over the years, three things I have learned: 1) people do what they want to do, when they want to do it; 2) be known for the problems you solve, not the solution you sell; and 3) you can't control who buys, who is insurable or how many cases close, but you control how many people you ask to speak with you about business succession, retirement, life insurance, money management, etc. Activity breeds activity.
A Career is A Collaboration
G.B.: My career is an amalgamation of effort. Receiving the John Newton Russell Award is an amazing honor. Everywhere I look I see someone that has been an integral part of who I am today. I know, beyond a doubt, this is a collaborative honor. At the forefront is my wife, Colleen. She has supported and encouraged me to pursue the opportunities as they have come along. My children, especially the ones in the business, are critical pieces to this puzzle. My first and only manager, Ralph Brown, my business associates, Stan Mountford, my staff, my clients and many, many industry professionals are key parts of the mix, too.
First Financial Resources (FFR) is a producer group founded in 1987, solely-owned by its member advisors and based in Irvine, California. With over 200 member firms nationally, FFR provides its member advisors with access to insurance-based products, tools and resources for the high net worth and/or business client. To learn more about FFR, visit www.ffrmembers.com.
Guy Baker, Ph.D., CLU, ChFC, CFP, MSFS, MBA is founding partner and managing director of BMI Consulting and the Wealth Teams Alliance, a registered investment advisory firm. Guy is based in Irvine, CA. He is past president of the MDRT, a public speaker and author whose books include, "Why People Buy", "Market Tune-Up" and "The Great Wealth Erosion." To learn more, visit http://www.bmiconsulting.com/.
For Press Inquiries, contact Susan Hart, (949)223-2169 or [email protected]
SOURCE First Financial Resources
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