Podcasts about trustage

Steve Rick, chief economist at TruStage, says that he has lowered his forecast for economic growth to 0.5 percent, while raising his forecast for inflation to 3.5 percent; that combination means stagflation, and it's starting to happen now and could turn into recession if the growth slowdown is worse than expected. Rick notes that "No one wins trade wars" and notes that if the current situation plays out into one, that trade problems triggering huge downturns would seem to be a classic 100-year event. While he says the damage can be averted if economic policy changes are softened or mitigated, Rick says he worries that the impacts of current events could last as long or longer than the economic impacts of Covid. Howard Silverblatt, senior index analyst at S&P Dow Jones Indices, discusses the unprecedented action in the Dow Jones Industrial Average on April 17, when United Healthcare dropped 22 percent and, by itself, caused a big drop in the benchmark. He analyzes what that means for the Dow as a benchmark, but also talks index construction — and how investors should consider benchmarks — in light of the rapid growth of the Mag 7 stocks relative to the rest of the market. Plus Chuck answers a listener's question about how to sell some gold coins they received as an inheritance.

Host ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠James Benham⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ is joined by Jason Gross from TruStage. Jason shares his expertise on rethinking enrollment from the strategy seat. Discover how emerging technologies are reducing friction in the enrollment process, and how those improvements connect to larger goals like access, equity, and long-term customer value.This Episode is sponsored by ⁠⁠⁠⁠Terra, the Next Generation Claims and Policy Software for Workers' CompVisit

Cacie Robichaux was born in Louisiana and has been living in Wisconsin since 2009. Cacie received her bachelors, worked for a hot minute then started a family and decided to be a stay at home mom for several years. She decided to go back to school where she received her second degree: an associate of software development. Her second degree led her to a career as a Scrum Master. Cacie is a facilitator who leads a team using the Scrum framework for agile project management. Scrum masters help their teams implement Scrum principles and practices, and coach them on how to improve their workflows. To Cacie, building solid relationships and a sense of psychological safety in the work place is very important. She likes to be a multipurpose person and help out wherever needed. Cacie is a mother of three daughters and very active in their lives coaching sports and ubering them around to lots of activities. She doesn't have to ever worry about meeting her favorite athletes because she gets to raise her own. Cacie loves a good physical challenge. She completed RAGBRAI in 2024, which is a bike ride across Iowa. She also plans to run a half marathon in Wisconsin this spring. In addition, Cacie and her daughters are volunteering at Hope Heals Camp, a camp for individuals affected by disabilities and their families. They would like to raise funds in order for campers to attend for free. To learn more about Hope Heals Camp, go to hopeheals.com/camp or click on the link below: https://secure.qgiv.com/event/hhc2025/account/1947341/ She's an introvert, and gets her energy from reading a book in her basement. She loves Malcolm Gladwell, Brene Brown, Simon Sinek and Adam Grant. To find out more about Cacie Robichaux: LinkedIn: Cacie Robichaux

Send us a textJust about every credit union wants - indeed needs - new members and that's exactly what Union Credit focuses on by providing embedded finance tools to deliver a steady stream of new members to participating credit unions.And get this: credit unions sign month to month deals with Union Credit.  So it has to perform to keep credit unions. And a credit union can tell Union Credit how many new, approved and funded loans it wants to get this month.On the show today is CRO and co-founder Barry Kirby and you know him because he was SVP at CuneNexus which in 2020 was bought by CUNA Mutual. The basic CuneXus idea was to provide tools that let a credit union show members loans and credit cards they already were pre-approved for.  Union Credit, which has TruStage, formerly CUNA Mutual, as a key investor  is taking the kernel of that idea and helping credit unions extend pre approved loans to current non members who - and this is key - can easily be memberized. How does Union Credit work that magic? Kirby gives the details in this show.How many credit unions have in effect created an obstacle course for prospective new members to complete before they are accepted as a member and that also means before they are offered a loan?  And how many of those prospects drop out before they complete the obstacle course?Union Credit offers a better, easier path, both for the prospective member and the credit union.Listen up.Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com  And like this podcast on whatever service you use to stream it. That matters.  Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto

Terrance Williams is the CEO of TruStage, one of the largest insurance companies in America.  TruStage generated nearly five and a half billion dollars in revenue last year. Terrance joins Adam to share his journey and his best lessons and advice. Terrance and Adam discuss a wide range of topics: leadership, personal and professional development, culture, hiring, purpose, and much more.

In a series of podcasts taped live at 2024's Money 20/20 in Las Vegas, host Lou Carlozo brings you the latest from one of the premier financial services conferences in the world. On this episode from The Money Pot, Sam Das, Managing Director at TruStage Ventures, talks about he's seeking to find innovators who can deliver for customers and live up to the promise of their lofty ambitions. He also talks about TruStage VEntures' focus on strategic investments in early-stage fintech and insurtech startups that disrupt the financial services landscape.

In this episode of Inside Jobs, we welcome Beth Anne Mandia, Director of Brand & Creative Services at TruStage Financial Group. Since joining TruStage, Beth Anne has taken deliberate steps to change the mindset of her team from order takers to value-added partners. Tune in to hear how she has changed the culture and the reputation of the internal creative agency by coaching them on the importance of learning the business, asking questions, cascading information, and making clear what she expects “every time they walk into a room.”——This podcast is in partnership with the In-House Agency Forum and hosted by Robert Berkeley from EKCS.

Send us a textThere's $140 billion in unclaimed federal benefits and assistance for households in need.That's a mountain of money.Why is it unclaimed? Sometimes it's because folks just don't know it exists. Often it's because the process of applying for it can be daunting - especially for the people who need it most.Enter Starlight, a New York based startup helmed by Catherine Xu and Shreenath Regunathan, both tech geeks.Starlight's aim is to catalog the available monies, make a database that's easy to search and create tools to make it easy to apply for monies.What's in it for credit unions?  Think about it. Help a member find monies that will let that member live better and move up the economic ladder and at least two things happen: the member will have strengthened loyalty to the credit union that assisted and that member also may qualify for more credit union products, maybe a car loan or a credit card.How cool is that?Four credit unions already are signed up, more are in the queue and TruStage (nee CUNA Mutual) is an investor.This conversation started back at the CU 2.0 live event in Phoenix that co founder Cat Hu attended and it had to become a podcast because it blends geekiness with doing social good.  Listen up.Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com  And like this podcast on whatever service you use to stream it. That matters.  Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto

Steve Rick, chief economist at TruStage, expects a unique occurrence in Federal Reserve actions between now and election date, with inflation dropping down to its target rate of 2 percent while the labor market reaches equilibrium, with the unemployment rate hitting 4.5 percent. Rick says that good news -- which will be accompanied by rate cuts from the central bank -- will push any potential recession back into 2025 and possibly '26, with economic growth falling below 2 percent, under long-term norms but not so bad that the economy craters. David Trainer, founder and president, New Constructs, pulls a shocker in the "Danger Zone," saying that a member of the Magnificent Seven -- a stock with one of the largest market capitalizations in the world -- has run so far, so fast that it is overdue for a reset that could bring the stock down by more than 60 percent. Plus economist and author Rob Larson, discusses his new book, "Mastering the Universe: The Obscene Wealth of the Ruling Class, What They Do with Their Money, and Why You Should Hate Them Even More."

Glen chats with Finovate's Greg Palmer about the state of fintech investment and startup momentum in anticipation of September's Finovate NYC event. Also- soft landings, long bike rides, $2.5 billion bets and honest borrowers.   Links related to this episode:   Finovate Fall in NYC September 9-11: https://informaconnect.com/finovatefall/ ***Use code BIG20 for a 20% discount off registration*** TruStage's Discovery 2024 conference replay: https://trustage.registration.goldcast.io/events/414b601e-9185-426f-9877-6405088473e5 Lamont Black's bike ride from Maps to Redwood CU: https://www.linkedin.com/posts/lamontblack_ai-outdoors-bikepacking-activity-7228525803385274369-XW5p BNPL's analog precursor: https://www.marketplace.org/2024/08/12/schulze-family-business-kept-old-things-running-for-82-years/ PYMNTS.com's interview with NCR Voyix digital banking leadership after its $2.5B sale to private equity: https://www.pymnts.com/news/digital-banking/2024/ncr-voyix-2-5-billion-sale-to-veritas-verifies-digital-bankings-long-term-potential/    Find us on X and BlueSky at @bigfintech, @jbfintech and @154Advisors You can also follow us on LinkedIn: https://www.linkedin.com/company/best-innovation-group/   https://www.linkedin.com/in/jbfintech/ https://www.linkedin.com/in/glensarvady/

Glen speaks with the Atlanta Fed's Claire Greene about takeaways from the latest Survey of Consumer Payment Choice- including card's dominance, mobile's ubiquity, BNPL's ascent and cash's resilience. Also, the NY Times offers an unexpected backstop for the paper check.   Links related to this episode:   The Atlanta Fed's Diary and Survey of Consumer Payment Choice: https://www.atlantafed.org/banking-and-payments/consumer-payments/survey-and-diary-of-consumer-payment-choice/2023-survey-and-diary Federal Reserve Financial Services' cash-centric analysis of the data: https://www.frbservices.org/binaries/content/assets/crsocms/news/research/2024-diary-of-consumer-payment-choice.pdf NY Times' story on Why Paper Checks Refuse to Die: https://www.nytimes.com/2024/07/24/business/paper-check-payment-fraud-scam.html TruStage's Discovery 2024 conference, held virtually Wednesday August 8: https://shorturl.at/1KKK0 Java4Kids: https://javaforkids.org/   Join us for the next CU Town Hall on Wednesday August 7 at 3pm ET/Noon PT for a live and lively interactive conversation tackling the major issues facing CUs today. This session will focus on whether the notion of a Primary Financial Institution is myth or reality. It's free to attend (you might even win a door prize!), but advance registration is required:  https://www.cutownhall.com/  Find us on X and BlueSky at @bigfintech, @jbfintech and @154Advisors You can also follow us on LinkedIn: https://www.linkedin.com/company/best-innovation-group/   https://www.linkedin.com/in/jbfintech/ https://www.linkedin.com/in/glensarvady/

Glen speaks with Co-Founder/CEO Austin Wentzlaff about Nook's mission to reclaim a personalized credit union member experience, and why his team planned to be a CUSO from the start. TruStage's Danielle Sesko explains how Payment Guard revamps a legacy loan insurance model for today's digital personal lending. And Glen senses a shift in the media narrative on Banking as a Service and FDIC insurance.   Links related to this episode:   Nook: https://www.nook-inc.com/ TruStage Payment Guard's Finovate Spring Demo: https://finovate.com/videos/finovatespring-2024-trustage/ Cornerstone/TruStage research paper on embedded payment insurance: https://www.trustage.com/business/insights/financial-trends/embedded-payment-insurance-digital-lending-research Last week's CU Town Hall featuring Roger Grimes on the ransomware climate: https://www.big-fintech.com/Media?p=cu-town-hall-episode-119-ransomware-protection-with-roger-grimes NY Times feature story, spurred by Synapse's bankruptcy, on consumer confusion around FDIC insurance: https://www.nytimes.com/2024/07/09/business/synapse-bankruptcy-fintech-fdic-insurance.html  The Register's coverage of the Evolve bank breach, which also ensnared Synapse: https://www.theregister.com/2024/07/09/evolve_lockbit_attack/ Join us for for the next CU Town Hall on Wednesday July 24 at 3pm ET/Noon PT for a live and lively interactive conversation tackling the major issues facing CUs today. It's free to attend (you might even win a door prize!), but advance registration is required:  https://www.cutownhall.com/  Find us on X and BlueSky at @bigfintech, @jbfintech and @154Advisors You can also follow us on LinkedIn: https://www.linkedin.com/company/best-innovation-group/   https://www.linkedin.com/in/jbfintech/ https://www.linkedin.com/in/glensarvady/

Aisha Everett-Khalif has over 20 years of professional experience and is currently a Business Manager at TruStage.In this episode, Aisha shares a bit about her career journey, talks about the power of connection and community, and dives into the value in building cultures of belonging.Show notes -> leaderassistant.com/280Sponsor -> leaderassistant.com/nova--Are you looking for a way to elevate your skills or earn that promotion you've been eyeing? Nova Chief of Staff's course provides you with the knowledge and confidence you need to stand out on the job. Whether you want to land your dream position or level up in your current role, Nova's self-paced course gives you hands-on practice doing what Chiefs of Staff do every day.Visit leaderassistant.com/nova to secure your spot!--More from The Leader Assistant... Book, Audiobook, and Workbook -> leaderassistantbook.com Premium Membership -> leaderassistant.com/membership Events -> leaderassistantlive.com Free Community -> leaderassistant.com/community

Lex chats with  Danielle Sesko about insurance and innovation in the fintech sector. They discuss the purpose of insurance and why it exists, the structure of insurance companies, the challenges of insurance innovation, and the integration of insurance into digital lending platforms. Sesko explains that insurance is necessary because most people cannot sustain a total loss of their assets, such as their homes or businesses. She also discusses the regulatory structure of insurance in the US, which is regulated on a state-by-state basis. Sesko describes the product she is working on at TruStage, which provides insurance coverage for loans in the digital lending space. The insurance is designed to protect both the borrower and the lender in case of unexpected events, such as job loss or disability. Sesko explains the technology integrations between insurance and digital lending platforms and the economics of the product. She also discusses the challenges and opportunities in the insurtech industry. MENTIONED IN THE CONVERSATION TruStage's Website: https://bit.ly/3WibyC1Danielle's LinkedIn: https://bit.ly/3XUZNmp Topics: InsurTech, Insurance, Digital Lending, Lending, embedded finance, embedded insurance, API, fintech Tags: TruStage, Payment Guard, Lending Club, FDIC ABOUT THE FINTECH BLUEPRINT 

On this episode we meet Mike Krauss an investor with TrueStage Ventures and we talk about their approach to making investments in fintechs. So for ready, let's suit up and get out on the field! Follow the Pod: https://twitter.com/fintechcombine To find out how Constellation can help your institution or fintech improve your digital experiences contact us at: https://constellation.coop https://twitter.com/ConstellationDP Follow Kris Kovacs: https://twitter.com/ManagementBytes https://www.linkedin.com/in/kriskovacs/ https://www.instagram.com/kriskovacs/ The Fintech Combine is Produced and Edited by Anson Beckler-Jones Follow Anson Beckler-Jones Instagram - @ansonandco Youtube - @ansonandco

Alex is joined by Danielle Sesko, Director of Product Management and Innovation at TruStage, to delve into the crucial role of embedded payment insurance in lending and its potential to enhance consumer financial health. How does payment insurance safeguard borrowers against job loss or disability, lower delinquency rates, and boost lender competitiveness? Danielle and Alex explore the rise of digital lending and discuss why the need for payment insurance across the lending industry has grown over the past few decades. With consumers one paycheck away from making a loan payment— and unemployed consumers being forced to take out loans while they struggle for months to find a new job— loan payment insurance is more relevant than ever before. So what role can it play in helping consumers to become more financially secure? And is there a way to design a better product that benefits both consumers and lenders?  To learn more about Cornerstone Advisors, visit https://www.trustage.com/business/insights/financial-trends/embedded-payment-insurance-digital-lending-research?utm_source=fintechtakes&utm_medium=LEN_B2B_cmg_np&utm_campaign=cornerstone-whitepaper&utm_content=link_subject-line_webinar-asset-link&utm_term=june-2024 00:04:46 - Payment Insurance Products 00:06:40 - Protecting Cash Flow with Loan-Connected Insurance 00:07:50 - Consumer Lending and Payment Insurance 00:14:55 - Digital Lending Simplified 00:20:07 - Shrinking Bank Market Share Post-Crisis 00:21:44 - Specialized Lending Ecosystem for Digital Lenders 00:28:46 - Consumer Financial Health's Impact on Insurance 00:32:39 - Living Close to the Edge: Financial Struggles Across Segments 00:41:19 - Loan Protection Against Economic Risks 00:52:28 - Embedded Payment Insurance Revolutionizes Lending 00:56:03 - Impact of Collections on Business Sign up for Alex's Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/   And for more exclusive insider content, don't forget to check out my YouTube page.   Follow Danielle: LinkedIn: https://www.linkedin.com/in/danielle-sesko-cpa-770b3312/   Follow Alex:  YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videos LinkedIn: https://www.linkedin.com/in/alexhjohnson Twitter: https://www.twitter.com/AlexH_Johnson  

Host Anthony O'Donnell welcomes back Kevin Cummer, Director of Life Products, and Nick Rohan, Director of Partner Management at TruStage Insurance to share the remarkable journey of TruStage's digital transformation, which has not only redefined their brand but also set new benchmarks in the insurance industry. Kevin and Nick take us through the evolution of TruStage, from its roots as CUNA Mutual Group, primarily serving credit unions, to its current position as a major player in the direct-to-consumer insurance market. They discuss the strategic rebranding of TruStage and how it has unified its offerings under a single, powerful identity, making it easier for customers to navigate and for the company to communicate its mission of making brighter financial futures accessible to everyone. They share industry insights to guide you toward more intelligent and effective strategies for digital transformation within your organization.   Key Takeaways: Simplifying the insurance process through technological innovations, such as developing comprehensive API suites, can significantly enhance customer satisfaction and improve conversion rates. Securing strong senior leadership support is essential for overcoming organizational inertia and resource allocation challenges, ensuring successful digital transformation initiatives. Implementing innovative distribution strategies and simplifying the insurance buying process can lead to substantial business growth, as demonstrated by TruStage's success in doubling its life insurance business and reaching $5.6 billion in in-force coverage.   Timestamps: [01:59] Intro to TruStage's journey and digital transformation milestones [03:17] The importance of unifying under a single brand for consistency and digital capabilities [04:21] Achieving major milestones in API suite for real-time purchasing experience [7:00] Strategic integration with partners and the importance of a compelling business case [10:02] Organizational commitment and support from senior leadership [10:56] Embracing data-focused decision-making and expanding distribution  [13:04] Integrating product and capability roadmaps to enhance distribution and accessibility [17:04] Utilizing instant decision underwriting to streamline the customer experience [18:08] Ways TruStage is thinking about reaching customers [22:17] Significant growth and success in new distribution approaches   Resources: Connect with Kevin Cummer: https://www.linkedin.com/in/kevin-cummer-5b728b1a/  Connect with Nick Rohan: https://www.linkedin.com/in/nick-rohan-1337935/  Check out TruStage: https://www.trustage.com/

Thank you for joining us for another episode of the CU Lab. I'm Madeline Kronfeld with America's Credit Unions, and I'll be your moderator. Today I am sitting down with Karan Kashyap, Chief Executive Officer of Posh AI, and Sam Das, Managing Director of TruStage Ventures, and today we are going to talk about Artificial Intelligence vs Emotional Intelligence.  Join TruStage Ventures experts Karan Kashyap and Sam Das for an informative session to explore: why both emotional intelligence and artificial intelligence are important for credit unions, some innovative ways credit unions are currently using AI to enhance member services, how credit unions can approach educating their board members and staff about the benefits and challenges of AI, how credit unions can build trust with their members when introducing new AI-driven tools and services, how AI can be designed to support empathetic interactions without replacing people, the potential risks associated with AI in the credit union industry and how to mitigate these risks, and the balance between leveraging AI for efficiency and maintaining the human touch that is so essential in the credit union industry.   

Get to know TruStage CEO Terrance Williams, who is cruising through his first year at the helm of the credit union insurance powerhouse. Also, Michael watched 2013's "Now You See Me" which leads to a telling of the time a young Natasha met Woody Harrelson at the University of Oregon.

This is a show about Happy Money.Of course you have to smile at that.You'll smile more knowing it's the name of a company that is in the business of helping consumers with personal loans that in turn are issued by participating credit unions and of course the consumer is memberized along the way.So it's also a member acquisition tool.The key Happy Money loan is the Payoff Loan - $5000 to $40,000 - that helps a consumer pay off credit cards. Rates are as low as 12.45%.Credit unions that work with Happy Money include Michigan State Federal Credit Union, Technology Credit Union, and Alliant Credit Union.Happy Money investors include a subsidiary of TruStage, formerly known as CUNA Mutual.On the show to tell all about Happy Money is CEO Joe Heck, a longtime CUNA Mutual employee who rose to vice president, business transformation.Earlier in his career he was a manager at CASE Credit Union in Michigan.Heck is an authentic credit union guy - if we used video you'd see him in a hoodie! - and he believes in the credit union mission and the credit union difference.  He also sincerely believes Happy Money has a significant role to play in helping credit unions live up to their mission.Listen up.Listen up.Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com  And like this podcast on whatever service you use to stream it. That matters.  Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto

Brian Kaas, President & Managing Director, TruStage VenturesTruStage Ventures is the venture capital arm of TruStage, a credit union partner providing financial products and services to 95% of US credit unions. The business is long-established, but the name is relatively new. TruStage Ventures invests in FinTechs with a specific view to funding innovators whose ideas can be leveraged by the credit union sector.  Robin Amlôt of IBS Intelligence speaks to Brian Kaas, President and Managing Director of TruStage Ventures. 

Terrance Williams, the CEO and President of TruStage, joins ‘Forbes Talks' to discuss DEI in the finance industry and his path to becoming the first black CEO of TruStage.Stay ConnectedForbes newsletters: https://newsletters.editorial.forbes.comForbes on Facebook: http://fb.com/forbesForbes Video on Twitter: http://www.twitter.com/forbesForbes Video on Instagram: http://instagram.com/forbesMore From Forbes: http://forbes.comForbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Summary   In this episode of That Annuity Show, Paul Tyler and Tisa Rabun-Marshall interview Marshall Heitzman, VP of Advanced Planning Consulting at TruStage. They discuss the role of annuities in comprehensive planning and the importance of understanding clients' values and goals. Marshall shares his personal experience with behavioral finance techniques and how they can help advisors connect with clients on a deeper level. They also explore the evolution of annuity products and the benefits of including adult children in financial conversations. The episode concludes with recommendations for further reading and ways to reach out for assistance.   Takeaways   Understanding clients' values and goals is crucial in comprehensive planning with annuities. Behavioral finance techniques can help advisors connect with clients on a deeper level and engage them in the planning process. Including adult children in financial conversations can strengthen relationships and ensure continuity of the client-advisor relationship. Simplifying the planning process and focusing on clients' values can lead to better client retention and referrals.   Chapters   00:00 Introduction and Background 01:18 Marshall's Career and Skills 02:15 Case Design and Solution Design for Annuities 03:35 Types of Advisors Working with Annuities 04:57 Overcoming Objections and Regulatory Changes 05:21 Behavioral Finance Techniques for Advisors 06:11 Time Objections and Building Relationships 07:49 Coaching Time-Pressed Advisors 08:18 Slowing Down and Having Conversations 09:47 Annuities as Estate Planning Tools 11:31 Evolution of Annuity Products 13:26 Behavioral Finance Conversation Techniques 14:08 Personal Story and Connecting with Clients 16:47 Communicating with Women in the Household 19:37 Better Client Retention and Referrals 24:39 Changing Advisor Mindset and Approach 26:11 Simplifying the Planning Process 30:09 Recommendations and Conclusion       Paul Tyler (00:00.154) Hi, this is Paul Tyler and welcome to another episode of That Annuity Show. Tisa, how are you?   Tisa Rabun-Marshall (00:08.246) Doing good, Paul. Good morning.   Paul Tyler (00:10.578) It's good to see you and we've got another great guest today on our show, Mr. Marshall Heitzman, okay, who is the, an advanced planning consultant, vice president at TruStage. Marshall, did I introduce you correctly?   Marshall Heitzman (00:27.793) That's it. Yeah, good morning.   Paul Tyler (00:29.486) All right, well, for our listeners, I think we'll have some interesting conversation that a lot of our listeners will find useful. Do you wanna just sort of tell us, you know, who are you and, you know, what do you do at TruStage?   Marshall Heitzman (00:42.568) Yeah, thanks. Marshall Heitzman, I am, as you said, VP of Advanced Planning Consulting at TruStage. I'm actually dedicated to their annuity distribution channel. So I'm doing advanced planning just on our annuity opportunities. And I think of it this way. I brought in as the strategy that leads to investment solutions. And so I'm kind of building out that strategy, talking the talk for.   those who are maybe leaning more towards the planning side of the business.   Paul Tyler (01:18.238) Well, excellent. And just maybe by way of background, you know, you've had a very interesting, you know, career, I think, working at a variety of different types of companies, right? I think you've worked at some fraternals. I know, I think you were at a large planning firm. Yeah, I guess, what, you know, skills do you bring to a role like this?   Marshall Heitzman (01:45.216) Yeah, I would say that I've had kind of a diverse career a little bit a lot of sales support But I have done some roles in supervision and compliance And now back into sales support again, and like I said directly Dedicated to annuities at this moment, even though in the past I've done investment advisory and been on The the full investment planning comprehensive planning side of the business in the past   Tisa Rabun-Marshall (02:15.586) So Marshall, can you speak a little bit about, I guess, either the case design or the solution design that you're working on as it relates to annuities? It sounds like you've either been brought in or come in recently to rethink the tools, right, and the solutions that the agents are offering. So can you just speak a little bit about, you know, what it is you're working on?   Marshall Heitzman (02:37.856) Sure, as we've expanded our distribution primarily to independent advisors, bank advisors, in addition to our long history working with credit union advisors, we've realized there's approaches that are diverse, they're different depending on how, especially in the independent space, how an advisor wants to create their business. And we know that many are   Doing more comprehensive planning, more what I would consider to be goals-based planning, and maybe it's taking just one step back from that annuity or investment solution and analyzing what are the objectives of the client, what are the goals, what are we really trying to solve here, and making sure that our solutions that we would recommend actually fit and advance them towards that goal.   Paul Tyler (03:35.866) Maybe talk to us a little bit about the types of advisors you're working with. We talked about this just before the show started, but maybe give us your segmentation of the people you're working with to help sell or help introduce and make successful in the annuity space.   Marshall Heitzman (03:54.824) Yeah, you know, you've seen it, our industry is changing before our very eyes, right? There used to be some clear delineations between those who used insurance products and those who didn't. And now, maybe regulatory changes, maybe we're just becoming a little bit more aware of everything else around us. There's many, many more advisors that maybe haven't used annuities so much in the past that are now.   They're recognizing especially if they're doing goals-based planning And I'm gonna say in this best interest regulatory environment They're realizing well if the client says this is what I want Honestly, the best solution is this product and maybe I haven't used that very much in the past But if this is what the client is describing that they want and I know that this is the best solution   I better be prepared to be able to offer that solution, right?   Paul Tyler (04:57.742) Yeah, well you mentioned regulation and when the regulation gets more intense in a particular space, sometimes people don't want to get in. How do you get advisors today who may not necessarily consider annuities to be core to their business to either consider them or start a conversation with a client that leads to the sale of an annuity?   Marshall Heitzman (05:08.125) Mm-hmm.   Marshall Heitzman (05:21.992) Our firm, and I know there's a lot of firms out there, but our firm in particular is very interested in behavioral finance. We've adopted and applied our behavioral finance techniques really across the board. We have every one of our annuity distribution channel employees earn a behavioral finance certification so that we can show advisors what we're talking about, apply it to their...   to their practice, to their goals analysis, and help them dig in to those client relationships. Really find what is most important to the client and are we aligning our financial goals towards those most important values.   Tisa Rabun-Marshall (06:11.746) Do you find you hit objections from, Paul was sort of talking about getting agents or advisors to start working with annuities with this goals-based planning that you're describing. Do you find objections around the time? If they're sitting in a bank or just more transactionally focused, it sounds like to me, obviously, to share the level of detail you would need to, to understand goals and motivations and all that. It takes some time. It might be two, three, four appointments building that relationship.   Do you find any objection on that side or is the kind of tool well received, value understood right away? Just curious what you might be hearing from agents or advisors when you're rolling this out.   Marshall Heitzman (06:55.052) No, it's a great question and the answer is yes. We do get that objection a lot. You know, I don't have time for this. I've got a lot of clients. And let's face it, a lot of clients are transactional. That's what they want to be. They don't really want to dig into all the planning. But I guess part of the lesson that we've learned hearing back from advisors who have tried some of the concepts and applied it to their business is that playing that long game   can really pay off. Longer, deeper relationships, not even with those clients, but also with their family. It's a great referral source. And to be honest, it connects with those clients who really would rather go to the dentist than sit down with their financial advisor and talk about their financial plan.   Tisa Rabun-Marshall (07:34.134) Right, the referrals.   Paul Tyler (07:49.498) So listen, Marshall, I'm an agent who, actually I'm a financial advisor. Yeah, I'm one of those time-pressed agents that Tisa just talked about. I want to drop a ticket and sort of move on. How do you coach me through the process of slowing down enough to have that conversation? And also tell me how you help me start to use some of these great behavioral finance techniques you have. Well, I want to learn a few tricks.   Marshall Heitzman (08:04.085) Mm-hmm.   Marshall Heitzman (08:18.524) You know, we've got, not tricks, not tricks. You know, this is a relationship business and I know that even our transactional clients, we have some relationship with many of them, right? We know what's going on and at least we're engaging in some small talk with what's going on in their lives and certainly we wanna earn more of their business beyond the one transaction that they walk in with.   Paul Tyler (08:19.798) Not Shrex.   Marshall Heitzman (08:46.768) It's all part about cultivating that relationship, asking them questions. And ultimately, the conversation we wanna get to is that values question. What is most important to you? And if they don't know, we've got exercises that we can introduce that helps them discover what their most important values are. And I'm going to add that a lot of advisors listening right now are probably saying, well, I already do that, I just ask them.   A lot of times what we're hearing from advisors is that they go through these exercises and their clients kind of self-discover for themselves one or two most important values that they didn't really think about or working with their spouse. They realize something new about their spouse and how they're working together and what's their top values collectively that maybe they weren't feeding into or designing their financial plan.   to deliver on.   Paul Tyler (09:47.862) Well, so just pushing a little bit more on the plan. You know, sometimes you don't really... People don't really think of annuities as estate planning, but they can be. And we see that with, you know, some of our customers. And Marshall, I think of our products in buckets, and I'd say we've worked hard to try to get a product in a lot of these categories. My category... When I think about annuities from an estate planning perspective, I think, first of all, you're going in...   You're starting, you're almost approaching those retirement years. You don't really know what's going to happen. You know, we need more money. I think the, uh, some of these growth annuities have played a very good role to sort of accelerate the building that nest egg. Um, uh, some products I see have, I would almost describe them as the Swiss army knives of early estate planning. Oh, you didn't have insurance or you didn't, you'd like a little more death.   coverage. Okay, we've got enhanced death benefits. You don't have long-term care insurance like most people. We've got a long-term care rider. Oh, and there's some liquidity in case some emergencies come up and you need an emergency fund. And then you kind of get all the way out at the end. And I've seen these bonus annuities really take off as people said, you know, I bought annuity 10 years ago, but I'd really like some of the features. I like some of the withdrawal benefits, some of the lifetime income benefits. Let's sort of...   move over to something and take advantage of these new class of products. Where do you see... did I miss a category? And where do you see some of the evolution taking place on the product side here to help for those conversations?   Marshall Heitzman (11:31.476) Exactly what you've described, you know, there's that variety of products. There's been a lot of evolution in product design, especially recently, I would say, in the annuity space. So the challenge, I think, is for firms to keep it simple. And we've got products that have a lot of those features that you described, and how do you offer something that's sophisticated and advanced.   but also keeping it simple enough for not only advisors to understand, but also to be able to explain to their clients. I think that's the real challenge. We are in that RILA space. And even though we've seen a lot of movement towards fixed annuities with interest rates rising so quickly, long-term, like I said, we play the long game. We think the...   the advantage of having the RILA space, a little bit more growth potential, is what we're hearing most clients need. They want the protection, of course, but many of them, in order to reach those goals, need more growth than what our fairly flat interest rates have been delivering over, let's say, probably two decades.   Tisa Rabun-Marshall (12:56.778) Marshall, kind of going back to the behavioral finance concept, you talked about discovering new values or new goals. I'm just curious if you could share a couple of like, it's a two-part question. One is, is that a fully guided conversation by the advisor? Is there any sort of pre or individual kind of self-assessment work leading into the conversation that the client would do? And then just an example of a question or two   to sort of tap into or discover those new values. I'm just curious what that talk track might sound like.   Marshall Heitzman (13:37.364) Yeah, we've created some scripting, or at least like an outline. And those familiar with planning, they're going to recognize that a lot of the scripting and the leading questions and so forth, are gonna kind of follow that financial planning model. In our pre-conversations, you guys invited me to share stories. So if you want me to share a very personal story about what really convinced me this works, I will.   Paul Tyler (14:02.847) Absolutely.   Tisa Rabun-Marshall (14:03.746) Sure.   Marshall Heitzman (14:08.101) It's my wife, so I'll say up front, I have full permission to share this story. I do often, she's pretty proud of it. But connecting with those clients who really don't like to handle their finances and just kind of want to get it over with in the meeting, do what they have to do, and move on with their lives. I would say that's my wife. I'm in this space, I understand what we're talking about. I'm the technician.   mathematics degree, this is how I think, right? Numbers, goals, progress. My wife is the opposite. She's a creative, she's an artistic. And so the numbers are kind of meaningless to her. The way she thinks about our future retirement is the dreams, the concepts. Tell me what I can do. That's what...   behavioral finance opened up. I was preparing our own behavioral finance presentations. I practice on her. She's a great test audience. And I presented a behavioral finance presentation just to her. And it really connected. More than just evaluating my performance. She's digging into, in fact, she stole my laptop. She turned it around. She's...   Tisa Rabun-Marshall (15:31.059) Yes.   Marshall Heitzman (15:31.884) paging through the slides and the notes, and she's saying, this is really good. And what really convinced me that this was effective was she said, if we had an advisor who talked to me this way, I would become more involved. Well, that was the moment, literally, that sold me on this concept as a way to connect with those clients who'd...   really don't wanna do this, right? They're doing what they have to do. But it connected with her. And I don't think she's very different than probably half the population out there. And if it connects with her, if it pulls her into the planning process, obviously she's gonna be more invested, she's going to be more committed to keeping that plan and following through with that plan if we just put it in terms that she can relate to. She doesn't care about the numbers or returns.   or budgets, she doesn't care to see that zero-based budget. What she wants to know is, what does my retirement look like? What am I gonna be able to do? Put it in those terms for me, and she's engaged.   Paul Tyler (16:47.722) So I'm really curious, thank you for sharing that story. What was it that really hooked her in? My wife, sorry, I'm not very, she, she's just, she kind of dials, she turns, she has a volume knob that kind of turns off, so Marshall, I should take a lesson from you here. So what was it that really was the hook? Was it a question, was it a picture, was it a story?   Tisa Rabun-Marshall (16:57.634) Do you have permission, Paul? That's the first question.   Paul Tyler (17:15.758) that pulled her into the presentation you're making.   Marshall Heitzman (17:20.956) It was the description of the approach and the style. The fact that we were getting away from hard facts, hard numbers appealed to her. The conversation around having, and no sales in that entire first meeting. We're talking about engaging with somebody, peeling the onion, what is most important to you? How do we design your finances to   help you live those most important values. What is most important to you? How do you see yourself living it? And then we design your plan to deliver on that. That connected with her. She understood the.   Tisa Rabun-Marshall (18:07.218) Yeah, I like the story too because I think it's a pretty known fact that who decision makers tend to be in households are often ignored in the meeting with the couple.   Paul Tyler (18:22.978) You can say it. Go ahead, Tisa. You can say it.   Tisa Rabun-Marshall (18:29.638) We hold the decision power in many households, meaning women in a traditional household of a marriage between a man and a woman. And often that style, the thinking, and just purely engaging and connecting with that woman in that setting, it just doesn't happen, right? So I mean, I hear success for men and women thinking, dreaming, values, but I do think it appeals.   generally speaking, a little more to whether it's the creative mind or just a profile of person who thinks that way, which I think generally maybe women more often. I'm generalizing here, so I'm giving lots of caveats. So I could see the success not only that as a connect and get the couple to dream and think differently and speak differently about retirement, but there's success for the advisor.   because ultimately once they leave that meeting, who's making the decision in the car ride home, right, is, has been sparked, has been activated. So I just.   Paul Tyler (19:37.55) So Marshall, does this open up better communications with the women in the household? I don't want to, again, don't want to suggest that this is, you know, primarily for women.   Tisa Rabun-Marshall (19:49.666) That was a much more direct way of asking Paul thanks. Ha ha ha.   Paul Tyler (19:52.598) Yeah. Yeah, does it give me a better chance of retaining a client after, you know, if I've had a relationship with a man in the house, does it give me a better chance to retain that relationship when he dies and his spouse now controls all the money?   Marshall Heitzman (19:54.216) Yeah.   Marshall Heitzman (20:07.892) We think absolutely, yeah. And I'll clear the air and just make sure that everybody understands this is not a gender thing. But Tisa, you're right. We know that the person who's actually the decision maker is probably not the one doing all the talking in the meeting, right? It's in the car ride home. So we get that. And to be honest, it's a way of connecting with both, getting them to...   Tisa Rabun-Marshall (20:17.111) Right.   Tisa Rabun-Marshall (20:26.89) Mm-hmm.   Marshall Heitzman (20:37.104) at the start, make sure that they're in alignment with one another. We hear from advisors a lot of times that start down this path and they're working with a couple, the spouses kind of have one or two eye-opening moments just between themselves about what's most important to them collectively. But it is about engaging both because Paul, you're right. We know at some point one of them is going to pass away.   And are you connected with the surviving spouse well enough to continue that relationship? And are you connected with them well enough where they wanna bring the kids in and make sure that they understand what mom and dad's plan is and what's most important to them? We think that it's absolutely great for connecting with the next generation and what happens when these clients are not around anymore.   I also think it's great for referrals because my wife walks out of one of those meetings and guess what she's saying? That's the best financial planning meeting I've ever had. And who's she telling? She's telling all of her creative friends, look, it doesn't have to be that bad. I've got an advisor who relates to me and values what I value and designs our plan around what I want to hear. You got to meet.   Tisa Rabun-Marshall (21:46.882) Mm-hmm.   Marshall Heitzman (22:05.052) him or her, right? We think there's tremendous value in that.   Tisa Rabun-Marshall (22:07.53) Yeah.   The generational comment is interesting to me, Marshall, because often, for whatever reason, parents might be reluctant to share the hard numbers with their children, but including adult children in the conversations about values and dreams, softer, easier, and so I'll share a personal story, which is, I think it was a little bit, maybe it wasn't fully intentional, but it happened a little bit more.   organically, my dad's advisor built a relationship with my brother and I. We didn't necessarily go to financial meetings with my dad, but we certainly socialized. He made some points of reaching out for some community events and unfortunately when my dad did pass a few years ago, he was well poised, right, to explain to us what was going to happen with our dad's assets, but both my brother and I now work with him.   And it's because we already knew him. We did not meet him when my dad passed. We met him several years ahead of time and had some rapport. So it's kind of just connecting for me, thinking, hmm, that's a conversation you could include adult children versus the math side of things. It might be a little bit more private for whatever reason. So another use case there.   Marshall Heitzman (23:07.392) Yeah.   Marshall Heitzman (23:30.732) I love hearing stories like that. And we get them every so often as well from our advisors who maybe didn't even know the kids, but they had organized their clients so well, even with simple little worksheets about where everything is, all of the key documents, the key contact information, keeping that all in one place. We've got some resources that we provide to our advisors if they wanna use them. And then we get stories back about   Tisa Rabun-Marshall (23:46.86) Hmm.   Marshall Heitzman (24:00.044) the next generation finding that single sheet of paper that had the treasure map, if you will, to all of the documents, all the legal documents, all the insurance documents, who to call, for what, and they win clients that way. We've had beneficiaries say, look, any advisor who works with their clients the way you worked with my dad.   That's an advisor that I want to work with. I know where everything is when dad passed away. Thanks to you. Love hearing those stories.   Tisa Rabun-Marshall (24:34.443) Mm-hmm. Yep. Yeah. Big moment of truth, for sure.   Marshall Heitzman (24:39.039) Yeah.   Paul Tyler (24:39.994) Right. I think Marshall, a lot of us in this business tend to be right-brain thinkers, and we want to start with the spreadsheet, not the conversation when it really should be the reverse. So listen, I'm a spreadsheet addict. I love this. Excel is me. Break me, Marshall. And what's the 12-step process or whatever it is to get me to rethink and have those type of conversations that Tisa mentioned? That your wife...   Marshall Heitzman (24:46.303) Mm-hmm.   Paul Tyler (25:08.77) said she loved.   Marshall Heitzman (25:11.728) Yeah, we try not to make it too complicated. And a lot of advisors who hear this process say, yeah, I kind of do something like that. And it's worked for me. So I don't really want to pivot too hard into doing that much differently. But we do get plenty of advisors who say, OK, there's some great ideas in here that are really easy to implement. Taking one step back and just having that values conversation.   It might take the whole first meeting. We might not talk about any business that first meeting, and that's a tough hurdle for a lot of advisors to get over. But play the long game, right? Invest that time with those clients. Those clients are going to be stickier. They're going to want to bring their other business needs to you as well. And they're going to want to bring their other relations in to talk to you as well.   just because you take the time to understand who they are as people and what kind of values driven relationship can we have together? To me that's the way you just kick the whole thing off. You know after that we've got we've got a lot of scripting and ideas and leading questions that we can provide but it plays really well into that planning process that the planning model that exists and is out there right now.   but it makes it simple. Simple questions, simple answers to common questions that your clients are gonna ask you. Ways to put those clients' mind at ease because everybody's nervous about something, right? There's always something that they're nervous about. And the whole process is about delivering to your clients the idea that, look, no matter what happens, we've got it covered.   Tisa Rabun-Marshall (26:57.634) Mm-hmm.   Marshall Heitzman (27:11.444) Right, we've got the plan. Somebody passes away earlier than we expect, we've got a plan for that. Somebody becomes disabled, we've got a plan for that. The markets don't cooperate the way we think, we've got a plan for that. Right, no matter what happens, we know where you're gonna get income, we're in the retirement planning business. We know where we can get income for you no matter what happens. We've got a plan built around that.   Tisa Rabun-Marshall (27:37.166) I would also think too it's like a little bit of like Paul thinking like growth mindset for the advisors because it's not fully this or that, right? It's sort of like you likely have the analytical spreadsheet type of conversation down, but every client's different, everyone you know, process differently. So why not sort of expand? It's a versatility call to me. You can still work that way if it's working for the client, but if you wanna grow or track new   different markets, maybe try this approach and see how it goes, right? It's an additive skill, being able to walk through this more values-driven conversation. You can always flip back to how you do it or how you've done it. So to me, it's more of a growth opportunity than it is like a full, you know, 180 of how you work. So that's how I would think of it if I was in the advisor seat of new skills not changing fully my skills.   Marshall Heitzman (28:34.432) For sure, I can geek out on financial planning software and spreadsheets with the best of them. And I've talked with many advisors in my past who claim this is the way all of my clients want me to work with them. They do the same thing. And I've come around to believe that, well, you are finding the clients who want to work that way with you, but what about all those clients who don't?   Tisa Rabun-Marshall (28:39.975) Hehehehehe   Tisa Rabun-Marshall (28:57.023) Mm-hmm.   Marshall Heitzman (29:01.148) you're missing out on them. If you're saying all of your clients want this type of approach, all the other prospects are not coming to you, right? Because not everybody wants to work this way. So who are you missing out on, was my question for them. And I think this process, the behavioral finance approach helps to uncover that. Who am I missing? Who's being left out? Certainly, my personal example, my wife definitely felt that way.   Tisa Rabun-Marshall (29:01.215) Right.   Marshall Heitzman (29:29.408) kind of wrote off the entire industry and just hoped that I would take care of everything because that's what I do. But now she's engaged, she wants to be involved, just because we're simply putting it in terms that she understands and can relate to.   Tisa Rabun-Marshall (29:35.118) Mm-hmm.   Tisa Rabun-Marshall (29:46.83) Great.   Paul Tyler (29:47.794) Interesting. Yeah. Well, we're kind of at the top of the hour here. Marshall, any recommendations for good books to read, good podcasts to listen to, as Tisa says, grow a little bit more as an advisor? And then how could people reach out to you for assistance?   Marshall Heitzman (30:09.876) Yeah, you can reach out to any true stage wholesaler you can call our annuity solutions team And they'll get you in touch with me or you can connect with us through true stage comm And connect with our team that way You know, we've done a lot of work I'll recommend Morgan Housel He has written a couple of books in this space. And in fact, we have him on we have like a quarterly webinar that   We'll invite him every so often and give a one hour presentation on what's new. But it relates really well to the whole behavioral financial advisor concept and looking at the values in order to create the goals. That would be my recommendation.   Paul Tyler (31:00.186) Okay, great. Well, Tisa, thank you. Marshall, thanks so much. It was great to meet you, great to have you on here. And if you're listening to the show, tell your friends, give us feedback and join us again next week for another great episode of That Annuity Show. Thanks.   Marshall Heitzman (31:04.712) My pleasure, thank you.    

“208 - Improving the #AnnuityUX in 2024 With David Hanzlik"   Summary   In this episode, Paul Tyler, Ramsey Smith, and Dave Hanzlik discuss the annuity industry and the changes that occurred in 2023. They talk about the rebranding of TruStage, the growth in annuity sales driven by the rate environment, and the success of fixed annuities and fixed indexed annuities. They also explore the potential for growth in niche markets, such as deferred income annuities, and the role of registered index-linked annuities (RILAs) in the industry. The conversation highlights the importance of making annuity sales easier for advisors and the potential impact of AI in the industry. The episode concludes with final thoughts and tips for annuity sales professionals.   Takeaways   The annuity industry experienced significant changes in 2023, including rebranding and growth in sales driven by the rate environment. Fixed annuities and fixed indexed annuities performed well in 2023, with advisors recognizing the value of the guarantees they provide. There is potential for growth in niche markets, such as deferred income annuities and registered index-linked annuities (RILAs). Making annuity sales easier for advisors and improving the ease of use of annuity products should be a focus for the industry. AI has the potential to play a role in improving operational processes and making the industry more efficient.   Chapters   00:00 Introduction and Welcome 00:30 Recapping the Holiday Season 01:44 Changes and Rebranding in 2023 03:24 Annuity Sales in 2023 07:27 Growth in Niche Markets 08:08 Renewed Interest in Annuities 09:37 Behavioral Finance and Market Ups and Downs 11:08 Deferred Income Annuities and Income Solutions 12:04 The Role of RILAs in the Annuity Market 13:41 White Space in the Annuity Business 16:33 Expanding the Target Audience for RILAs 20:01 Making Annuity Sales Easier for Advisors 22:29 New Year's Resolutions for the Industry 25:15 The Role of AI in the Industry 27:06 Retire Tech Innovation Event 28:29 Final Thoughts and Advice 30:32 Closing Remarks     Paul Tyler (00:01) Hi, this is Paul Tyler and welcome to another episode of That Annuity Show. Ramsey, good morning.   Ramsey Smith (00:08) Good morning to you. Great to be here as always. Good morning to you.   Paul Tyler (00:11) It is, and we've got a great guest, a returning guest, Mr. Dave Hanzlik Vice President, Annuity and Retirement Solutions at TruStage, formerly known as CUNA Mutual Group. Dave, welcome back.   Dave Hanzlik (00:25) Hey, thanks guys. It's great to be back. How was your holiday?   Paul Tyler (00:30) You know, it was too short, too short. And I'm paying for it now, paying for it now as we get ready for our upcoming sales conference here that I'm looking forward to. Ramsey, yours.   Dave Hanzlik (00:34) Yeah.   Ramsey Smith (00:44) Good holiday. We actually spent some time in New York, which is sort of our historic home, which is fantastic. During the Christmas season, it was so, so busy. Frankly, it's great to see what looks like a really great strong recovery for the city over the course of the last year or so. So it's just great to see that kind of energy in the city. So it was fantastic. And other than that, college applications. So busy.   Paul Tyler (01:09) I don't know. Judging from the sketches on your wall, I don't think you're quite there, Dave.   Dave Hanzlik (01:14) No, not yet, although these are several years old. So, yeah, yeah.   Paul Tyler (01:18) Okay. Yeah. Hey, well, listen, we actually had a chance to catch up in person at the Limerick Annual Conference, which was great. But, Liz, it's hard at the beginning of the year not to look back and then look forward. You know, looking back to 2023, it was a big year in the annuity industry and also, you know, a big year for your company. Do you want to talk about the changes and the new name, maybe?   Dave Hanzlik (01:44) Yeah, yeah. I mean, 2023, as you mentioned.   true stage. We went to market and changed our name and brand in 2023. If anyone has done this before that's listening, they know this is a lot of work and wonderful, wonderful dedication from a bunch of talented folks. But it's really about for us, you know, we had a family of brands and we recognize that we want to over time really connect.   Paul Tyler (02:05) Oh yes.   Dave Hanzlik (02:21) across all the life stages of our customers, the financial services solutions that we can bring in. A huge part of that is our annuity and retirement solutions that help people as they're getting to and living through retirement. So I'm very excited about it and happy that we're through the first phase of it. Brand changes, there's always some things that trail for some period of time, but we think it's going to be a great thing for our annuity business.   true stage business in general.   Ramsey Smith (02:56) Fantastic. So look, we're coming off to Paul's point, a great year in annuities. A lot of that's been driven by the rate profile. And so curious to hear your thoughts, you know, one on sort of what segments you saw doing well and why you think they did well in 2023. And then we can sort of shift gears 2024, what that's like, what that's probably going to look like based on what could be.   higher rates for longer or maybe things sort of pull back a little bit. So tell us a little bit about 2023 for starters.   Dave Hanzlik (03:30) Yeah. And, you know, Paul, you and I saw a lot of this when we were together at the annual meeting. First of all, as we entered into 2023, we're coming off a historic year for the annuity business in general, over 300 billion of sales in 2022. And we're probably going to end up 2023 over 350 billion of sales. So another 20 plus percent year over year growth number. You know, yeah, Ramsey.   and Paul, we heard this, the rate environment is a big, big mover of this. And I think it's, you know, a couple of things we've seen, like one is it's helped, you know, recapture the imagination of advisors recognizing, you know, where annuities can help their clients. And in particular, we've seen the fixed annuity space, the MYGA multi-year guarantee annuity space has done extremely well. And   fixed index news did really well. And those are, I think a lot of that was driven by interest rates and advisors identifying that this was the value proposition was really hard to ignore for their customers. We also see the, what I saw in 2023 was a continuation though of growth and a number of other categories as well. The registered index links annuity space and another year that is over 10% growth.   and probably going to reach 50 billion of sales in 2023. So although it was around rates, I think what we were seeing is just advisors understanding and recognizing that the value of the guarantees that annuities can provide and really bringing it more to their customer base and taking advantage of how the rates and guarantees were showing up.   vis-a-vis what we'd seen in the past decade plus of the low rate environment.   Paul Tyler (05:31) Yeah, it was hard not to have a conversation at LIMRA about rates. And, you know, it was a blessing, it was a curse. I mean, the blessing in that you could sell, you know, the products are able to, we're able to show bigger rates, bigger interest rates, higher cap rates. You know, challenges, it was the speed at which it increased. I think a lot of companies had challenges, you know, repricing those MiGAs. I mean, David, we, you know, we would...   go out thinking we were going to be number one and number two. And by the time the rates hit, we were like in fourth place. It was, it was a crazy, crazy year. And then when the business did come in, did you have enough people in place, uh, to actually process the business? And, and, uh, I think, uh, we as a collectively, as a whole in the industry, I think we did a pretty good job, but I know that, you know, there were, there were service issues along the way.   Dave Hanzlik (06:05) Right, right, right.   Yeah, I think one of the, yes, there was a blessing and curse, you know, helping a lot more people using annuities, but stressing the operational administration framework of the industry. So, but I also think that's going to be a positive as you move forward in 2024 and beyond. I think as an industry, we were recognizing that there are some ways of looking at technology, data and...   the service models that could be advanced to take on spikes in business, more business. And it's just sometimes a crisis forces involvement and advancement. So I think that's something that we're going to see as a major.   And she's continuing to get better at service and administration and processing of business.   Ramsey Smith (07:27) So one of the things you and I talked about a bit, Dave, independently was some other areas that have seen growth that have been sort of smaller markets. So we had talked about Diaz in particular. Is that, and again, it will unlikely ever to be as big a market as FIAs or RILAs, et cetera, but there is a market. Is that an area that you think will continue to see growth and attention? I can say that certainly,   I've received inbound calls on them in a way that I hadn't in the past. So I'm curious if you're seeing any of that in your business sort of profile and if you think that might be part of the future as well.   Dave Hanzlik (08:08) Yeah, I do think, you know, Ramsey, as we move into 2024, there's, you know, there's advisors and clients are going to take a renewed interest and look at annuities in general, not just my guys or fixed index annuities. They recognize like, well, there's value here and that the higher rate environment has kind of been an impetus for looking at. So for example, deferred income annuities.   I think, I think you and I talked, I think part of it was like, hey, look, because of the rate environment, there's could just, this could actually just help people identify that there's, there's a deal here. And you know, there's something that we haven't been able to tap into for a few years because how low rates have been. I think just generally though, like income has been something that in 2022 and 2023, a lot of people weren't focusing on. And, but I think as   the latter parts of 2023, we started to see more interest in it from an industry perspective. And I think you can continue to see that. And if you look at industry data, it hasn't really gone away. It's just the accumulation side has just exploded. And the need's still there. I'd also be curious, Ramsey, and it kind of was adjacent to our discussion, was part of it is...   Ramsey Smith (09:24) 100% Yeah.   Dave Hanzlik (09:37) a number of discussions, plenty of these discussions in 2023 where people are like, well, rates are so great. This is the time we should, there's a deal here. And so, you know, and part of, for me, part of it's like, well, that this is part of what annuities are supposed to help people with, which is help them like not get swayed by ups and downs in markets. So   Ramsey Smith (10:04) Mm-hmm.   Dave Hanzlik (10:05) there is a little bit of a lot watching behavioral finance play out where people like rates look so good. Now I'm going to jump into this, you know, universe. So that is something I think as we move into 2024, you know, again, looking at like, how are people looking at plans, their long-term plans, and, you know, I think a crisis can help people kind of re-examine what their long-term goals are. You know, someone feels like they could be all in equities and then, you know,   markets drop 30%. Maybe they really can't be. But I think that's something that will be a really interesting topic and item to kind of navigate in 2024 is kind of get back to – and partly I think rates are going to level out a bit here. And as they do, now are people going to kind of start looking about what is the financial plans that we're putting in place for our clients?   what are the solutions that can make sense? And income, I think, is one of them.   Ramsey Smith (11:08) Yeah, no, absolutely. I mean, it was an interesting discussion I had with this client, ultra high net worth individual. And so liquidity was not an issue. It was really a matter of, so the issue of a deferred income annuities, you essentially have a loss of control of the assets you allocate to it. And so liquidity wasn't an issue for this client. It was very much this idea of creating   some sort of counterpoint, some diversification into a portfolio that otherwise was risk loving, is probably not the way I'd put it, but risk comfortable. It was a very sophisticated investor. And so that's why I thought it was interesting. And to your point, like pricing levels were very attractive, both because of rates and because of appetites relative to longevity risk, you know, at that moment in time. And so I think it worked out well for all parties involved.   Dave Hanzlik (12:04) Yeah, I think, you know, when you look at income today, the industry has, you know, learned a lot of lessons during the Great Recession and, you know, now has deferred income annuity is a great tool, right, Ramsey, for those that don't need the liquidity. But I think the pricing and the creativity around solutions, whether they be in the variable annuity space, the redshift, and the annuity space.   fixed the next news was in the fixed annuity space, which are almost very close. There's fixed annuities with income options that are very close to deferred income annuity except with liquidity, right? So I think there's a lot of great options out there. And I think the industry has done a really good job of setting up the solutions that can be appealing to customers, as well as, you know, we've got...   we have the risk return, risk management piece down really well.   Paul Tyler (13:08) And Dave, I guess, where do you see the biggest white space in the business? I mean, there are ones where if you look at the reports, you say, okay, well, how do we increase penetration in the RA channel? Ramsey, your topic, how do we get more annuity sales in the workplace? The numbers are low, the opportunity is big, but it's also the barriers are really high. I mean, if you sort of think of your CEO of the industry.   Where would you say we should be putting our bets here over the next few years?   Ramsey Smith (13:39) That's a great question.   Dave Hanzlik (13:41) Yeah, I mean, I think those two topics as well as if you think about the topics of, you know, income and retirement plans and the solution that, you know, what's consistent in all of them is the complexity of trying to, you know, have a technology stack and operational stack that can fit within how those marketplaces work.   because they weren't created to accommodate the kind of guarantee solutions. And so I think that's the big challenge to, I think all three of those are really interesting opportunities. But if you're asking me like, okay, Dave, like next few years, where do you think the white space is? I mean, this is no surprise given kind of what our company focuses on. I still think registered index link annuities is a...   wonderful solution because it captures the, you know, addresses the need. Everyone, you know, people are using news because they want downside protection. And then with RILAs, they have the upside potential that they need. And now it's had a lot of discussions and there were discussions at the Limmer meeting, Paul, like, well, you know, because of where rates are, does this mean like RILAs aren't as important? And you still saw...   double-digit growth in RILAs in 2023. And when I talk to my counterparts and other companies, everyone has a RILA or is looking at it, you know, because I think it's just a really creative solution that can kind of bridge a gap of, you know, because people need to continue to grow their asset base, right, but they also, guarantees are a wonderful way of kind of helping them navigate risk and, you know.   of control their behavior risk as well as stabilize the portfolio. And even like, it goes back to Ramsey when you're talking about your higher net worth client that was like part of using like a deferred income annuity, it stabilizes part of their portfolio that allows you and them to work on taking risk in a fashion that makes more sense for their needs. And so,   Ramsey Smith (16:02) Mm-hmm.   Dave Hanzlik (16:13) A lot of, so I really think RILAs are, they'll continue to see them become a bigger and bigger slice of the NUIDI product.   Ramsey Smith (16:21) Can I just sort of extend that a little bit? Just curious, and I have a follow-up comment. So RILAs are interesting. RILAs are registered. So a different, potentially different type of advisor has to sell it, right?   And so I guess my question is like, so is there beyond just the fact that it has practical implications for the customers, does it open up a new target audience? Has it opened up a new target audience for you in terms of advisors that you are or could work with?   Dave Hanzlik (16:33) Right.   Yeah, we've seen it in two fashions, Ramsey. One is, we found that with, you know, it is registered. So, but, you know, some advisors that are registered tend to work with, you know, tend to work with fixed annuities more, fixed index. They tend to work, you know, we found that this has kind of helped them open up, you know, a better way of getting after upside potential with their customers.   Ramsey Smith (17:08) Yeah.   Dave Hanzlik (17:19) with a customer base that tends to be more conservative that they say, oh they want to manage accounts or they want to be in mutual funds, but then as soon as there's a market correction they want to run back into CDs and fixed annuities. So this has been able to help those advisors and have a more logical solution to help their customer base. The other place is, and this is I think, is folks that advisors that just really weren't using annuities, right?   Because they're very comfortable with efficient frontier optimization. And this is something we have many conversations with. We're like, how do you do this? Conversations where we had to kind of like, how does the, how do you, are you sure this makes, you know, advisors are really, maybe have your background, Ramsey, that they really understand how it   how insurance companies construct these solutions. I think it could be something that could help us with the RIA space, traditionally a space that's more focused on just not using guaranteed solutions as much. So those are the two places we've seen as our company, where we've seen some build bridge out into some new space that we weren't seeing before.   Ramsey Smith (18:29) Yeah.   So part of the reason I bring it up is I recently was asked by a family member, a friend actually, to take a look at a portfolio that somebody who was retired had and it was run by sort of a name brand advisor shop or a wirehouse type. And I looked at the asset allocation and 10% of it was allocated into what they called alternatives. But essentially they were structured notes. I looked at the structured notes and it's like...   these structured notes have the same risk profile that a RILA would have. They were really, you know, twin with what are, other than the fact they were written on a bank's paper, as opposed to written on the paper of an insurance company. So I think that sort of the aha moment for me was that, like, there's already use of very similar products already in there. Sometimes they're based on sort of central asset allocations. Some, you know, maybe they're,   made at the company level and the advisors just sort of take what the investment they're supposed to do but it's my way of saying that like there are there are places where things that are close enough to Rila's already exist and are being allocated that might be a business opportunity for you and for others in the space.   Dave Hanzlik (20:00) Right, right.   Paul Tyler (20:01) Interesting. Well, you know, we've had Joe Jordan on a couple of times. I worked with Joe back at MetLife way back when, and Ramsey, well, he always said was, how do you get somebody to do something new as you make it look like something they already do? So, and I think these products that we put out, as much as we think and talk about consumer value, it's, whoever the independent agent, the registered rep, the independent financial advisor,   kind of be, they have to, the product has to be one that they feel comfortable selling it probably as close to the process they've already done. Ramsey, I'm presuming you had probably a relatively easy discussion saying, look, you already own these bank structured notes. Look at this product over here. It's kind of similar and maybe it's a little more efficient.   Ramsey Smith (20:48) Yeah, so I was evaluating, I wasn't selling this. I was just trying to help them understand what they had. But I think it's that balance between pattern recognition, like the advisor understands it well enough, but your offering as TruStage is unique enough that they understand that it's different than the other things that they recognize enough that it's in their comfort zone. And that's the balance that you...   Paul Tyler (20:52) Yeah.   Dave Hanzlik (21:15) Yeah, I really like this question. It does remind me of one of the things that as an industry we really need to continue to focus on, whether it be in new spaces that we have under-penetrated like RIAs or just our current spaces, our current broker-dealer partnerships, how do we continue to make it as easy as possible for the advisor and client to use our solutions because it's a highly regulated...   industry. There's a lot of complexity of just trying to pull sources of funds and all that. And that continues to be, you know, and it's always a topic at our industry conference. There's multiple topics on this and it's something that we continue to focus in on in terms of our investments and the industry in general. And that's one of those things that I, you know, I continue to encourage my peers to like, where are we finding ways of   Ramsey Smith (21:46) Sure. Yeah.   Dave Hanzlik (22:10) collectively trying to make this better for those that we're working with. It's not about, we're trying to just help make this solution more widely available, more easily usable in the different fashions that clients are getting served around their financial and retirement needs.   Ramsey Smith (22:22) Yeah.   Paul Tyler (22:29) So what would you put? It's January. We're still pretty close to the first New Year's resolutions for our insurance industry to do exactly that. They make it easier for advisors to explain these things and communicate the value.   Dave Hanzlik (22:45) Can you say that again, Paul? Sorry.   Paul Tyler (22:46) Well, what would you, you know, if you had a new year's resolution list for the industry, you know, what would make the top of the list there to make it easier to sell products to clients?   Dave Hanzlik (22:59) Yeah, I think it would really be a focus in on working with the distribution partners.   you know, how the solutions are, you know, seen and evaluated. And it kind of goes back to think what you, you know, Paul, you and Ramsey were kind of talking about before, like the pattern recognition and I was really working hard on with our partners, how this is similar to where this is similar to things that they're comfortable with and how do we kind of fit them within that technology and operational and process stack and say, Hey, like it's, it's not the same as what you have. It has some.   advantages, you know, that provided, you know, allow it to be, you know, another arrow in the quiver. So I think the focus on like education of, you know, how this is similar and then how do we make it as easy as possible to kind of fit it within the process. Because I think that's oftentimes what we see in terms of what we get in some pretty specific discussions with our distribution partners. It's like...   lot of it's like they like this when they understand this solution they like it and then it's just like well there's all sorts of things that we all these roadblocks to make it harder you can make it hard for an advisor to potentially use it and it's not to say like a news or that much there's so much more hard harder to use there's always like some like mutual funds management there's always things that can kind of get in the way of using them for a variety of reasons but that's what I would focus in on   Ramsey Smith (24:25) Mm-hmm.   Agreed. Well, I think when you sort of peel back the onion on virtually any financial product, even, and I say this sometimes, that even index funds are, I think, are more complicated than people think. It really ultimately comes down to sort of comfort and familiarity. I think that ultimately is what makes the world move, make this world move. Yeah.   Paul Tyler (24:44) Okay.   All right, so I got a double click on this here, Dave. So, you know, I was there at LIMRA on this platform, this panel talked about   Ramsey Smith (25:10) Uh oh.   Paul Tyler (25:15) AI, general, genera of AI. Boy, great for pattern recognition, great for, is that, what kind of role is that gonna play in 2024 in our industry, do you think?   Dave Hanzlik (25:15) Yeah.   Well, I think every single company in the industry is looking at it and trying to figure out, because I think we've all seen the applications of it. Hey, look, it'll write a term paper in 10 seconds. It'll take a...   create a 40 slide PowerPoint for you in 10 seconds. So, us and our peers are all looking at where are some places that it can be used. But it's one of those things that there's a host of other issues that you have to navigate, because all of our companies are handling very sensitive information. And so, part of what we need to do is make sure we're...   We have it in the right spots and really understand and test through it. But I think for us again, in 2024, I think the industry, it will be more around how can we make operational processes more efficient and then, you know, and then just kind of watching like, okay, are there other places we can extend it and how can we fit that within appropriately within privacy, security, regulatory frameworks? Because again,   This is really, there's definitely sensitive stuff here that we all deal with, and rightfully so.   How about you, Paul? What do you think?   Paul Tyler (27:06) Oh, I'm bullish on it. In fact, don't get me started. No, I, listen, you know, I, everything you say I'm living, living the dream with our internal groups, but we've got some interesting sort of pilots, uh, in the works here. Ramsey knows some of them. Um, I do think we're going to have a great event Ramsey, if you want to talk about it in April, April 8th out in Las Vegas, talking about retire tech innovation in retirement, David, hope we can get you out there and your team. Um,   Ramsey Smith (27:08) You're going to get him started. Don't get him started. We won't have time.   Dave Hanzlik (27:10) Hahaha!   Paul Tyler (27:34) send you some information on it, but this would be the third event that we've held. Ramsey, I think, yeah, you've been... let's see...   Ramsey Smith (27:41) This will be two out of three. So the first one was in Hartford a couple years ago and I was traveling so unfortunately I couldn't make it. You guys sent me a nice message. You sent me a short video letting me know I was missed. So I definitely appreciated that. And then the last one was earlier, I want to say earlier this year, no it was last year. It was March of last year, sponsored by Capgemini. You guys put together a great space with them. That was fantastic. And now we're going on to the big stage. We're going to Las Vegas. So you know.   Dave Hanzlik (27:44) Mm-hmm.   Paul Tyler (27:52) Ha ha ha.   Ramsey Smith (28:10) must be doing something right. That's fantastic. Glad to be part of it.   Paul Tyler (28:12) Yeah. So it was great to have you on here. I don't know, any parting thoughts, advice for people actively selling annuities and having these conversations with clients on a daily basis?   Dave Hanzlik (28:29) Yeah, you know, maybe we kind of touched on this before, but two things. One is like, do you think, you know, we should always navigate through recency bias? Like, it's been a high-rate environment, but you know, like, I think a lot of the opportunities are around, you know, with annuities in particular, it's like, hey, like, there's some great innovation that's happened and continuing to kind of explore how it can help from an income perspective, accumulation perspective.   That's one layer. It's just continue to challenge like, you know, what solutions you're using and how that fits in with the longer term plan that you're working with your clients. And then the second one is I think this theme that we're kind of getting after like, you know, and one that we'll continue to work on and focus on is like, how are we trying to make the process of working with our industry as simple as possible and how are we like looking at tools like AI to kind of make this.   These solutions and the partners we're working with make it as efficient as possible to help serve clients. Those are the two things that we'll continue to zero in and focus on. We're coming off, again, probably it'll be a historic year. I think that lays a great foundation to continue to help people with these solutions and things we can do as an industry.   Paul Tyler (29:56) All right, this was great. Ramsey, any final thoughts, questions?   Ramsey Smith (29:59) Oh, that's, I look, I just want to, I agree with Dave, ease of use. Ease of use is a growth, is a growth area for our industry. And I say that from somebody that touches the industry in many, many ways, distribution, my risk management from my former life as a board member. I think ease of use is, uh, ease of use is, is really going to be a, uh, an important and valuable growth area for, not just for the clients, but also for. You know, the, all of us that work in the industry, I think it will be.   Paul Tyler (30:07) Hahaha!   Ramsey Smith (30:29) think it will be universally beneficial.   Paul Tyler (30:32) Annuity UX. What do you think about that, Ramsey? Is that a hashtag? Dave, you like that? 2024, hashtag Annuity UX. All right, Dave, hey, thanks so much. Look forward to having you back. And well, listen, we'd love to catch up with you later in the year. Ramsey, thanks. And thanks to all our listeners. Join us again next week for another great episode of That Annuity Show.   Ramsey Smith (30:36) Sure, yes.   Dave Hanzlik (30:39) It's great, Paul. You're the Chief Parking Officer, so...   Ramsey Smith (30:40) Yeah. Here we go. Yeah.   and   Sure.   __   Paul D. Tyler | CMO ptyler@nfg.com https://nfg.com M: 914-356-2138  

Following President Biden's visit to Milwaukee this week we discuss if he can turn around his 2024 chances? We talk about the politics and the stakes, how the President's reelection prospects are impacted by the war in Gaza, a possible bad deal on immigration, and this week's 14th Amendment decision in Colorado. We debrief Citizen Action's 3rd CD Candidate Forum this week and encourage people to listen to the replay and fill out our survey. Big union news this week with the TruStage workers union settling their contract after a long dispute and we review the Amazon case before the Wisconsin Supreme Court, which has major implications for misclassified independent contractors and corporate skirting of employment responsibilities. Finally, we discuss State Senator Brad Pfaff signing on as a co-sponsor of the BadgerCare Public Option, the health care cost impact of a ThedaCare and Froedtert merger.

Who's been naughty (aside from Sam Bankman-Fried)? And perhaps you have been nice, yes? No matter your holiday state of being, we're here with four fabulous guests to talk holiday ho-ho-ho, financial services style. What have been the highlights? The buzzkills? And what's the best gift the industry can hope for in the new year, aside from a limitless supply of fruitcakes? Our Holiday Merry Makers: Matt Wood, Head of Fintech Services, Tavant Sarah Martin, CEO, Pulsate Gary Lewis, Managing Director - Lending & Deposit Solutions, Jack Henry Danielle Sesko, Director of Product Management and Innovation, TruStage

Here's your local news for Tuesday, December 19, 2023:We get the details as the city of Monona prepares to join Madison Metro's bus service,Take a closer look at the long-awaited TruStage worker contract,Investigate how state law is holding up solar-powered apartments,Hear more of Cardinal Call's semester-in-review,Explore the intersection between Indigenous cultures and helping wild animals,And much more.

In this show, we get late-breaking details of the newly-ratified OPEIU Local 39 contracts with MG&E andTruStage, hear union leadership's reaction to the state legislature's underhanded move to force culture war changes at UW, check in with postal workers during this stressful holiday season, tell more about the UAW's organizing strategy, look at labor solidarity with Palestine in Wisconsin, offer our annual Fantasy in Lights feature, and more.

We get an update on not one but two labor tenative agreements by OPEIU Local 39, check out tmorrow's march for Palestine in Madison and delve into the labor reaction, look at a new union at Lambeau Field, learn about UAW's ongoing organizing efforts in non-union auto plants, hear from a union leader about what Act 10 has done--and the lawsuit that labor hopes will undo it, and more.

“Effective leaders help people see beyond what they're capable of.” - Terrance WilliamsThank you for tuning in to episode 174 of The CUInsight Experience podcast with your host, Randy Smith, co-founder of CUInsight.com. This episode is brought to you by Amazon Business. With the value and convenience of Amazon, plus innovative tools and features, purchasing leaders in credit unions can reduce costs, save time, maintain control, and efficiently scale operations. Amazon Business, the most comprehensive one-stop shop for business purchasing.My guest on today's show is Terrance Williams, President & CEO at TruStage. Terrance shares his career journey that led him to his current role at TruStage. TruStage, formerly known as CUNA Mutual Group, is a mutual insurance company that provides insurance, investments, and cutting-edge technology to cooperatives, credit unions, and their members worldwide. As we look to the future, TruStage is focused on evolving to stay ahead and continue meeting the ever-changing needs of members.During our conversation, Terrance shares his experiences of developing professional relationships and resources within the industry. He shares the lasting impact mentors have had on his career and gives advice to those working towards a leadership role. Terrance discusses key points to stay relevant in today's digital world. Listen as we explore ways to evolve and stay ahead while being united in driving our industry forward.As we wrap up the show, listen in as Terrance shares the best piece of advice he's heard about authenticity, why fulfillment is part of his view of success, and which actor he'd choose for his biopic. Enjoy my conversation with Terrance Williams!Find the full show notes on cuinsight.com.Subscribe on: Apple Podcasts, Spotify, Stitcher Books mentioned on The CUInsight Experience podcast: Book List How to find Terrance:Terrance Williams, President & CEO at TruStagetrustage.com        Terrance: LinkedIn TruStage: LinkedIn | Facebook | Twitter | Instagram

Terrance Williams says it was his dad who taught him to be a leader who listens, an intern who asked him how he knows insurance is still the right career for him and his parents together who instilled in him his mantra of “paying it forward.”In this episode of the CUES Podcast, Williams, the new president/CEO of CUESolutions provider TruStage®, illustrates his leadership style by describing his approach to having lunch.“I want to make sure that everyone's comfortable engaging with me,” says Williams. “When I go get lunch, I talk to everyone in the cafeteria, regardless of their role, and regardless of what they do, and I want them to view and see me as someone that's approachable as someone that they can talk to and engage with—and give me feedback, give me a suggestion, give me a thought. (That) doesn't mean we're going to do everything that comes my way, but I always want to maintain that open forum, so that people are comfortable coming to me and approaching me."Williams explains in the show how he was able to respond to an intern's question about whether Williams had made the right decision to pursue a career in insurance. He is certain that he has.“I …  believe what we do genuinely matters,” he says. “When you think about the ability to transfer risk, the ability for me to live my life without the worry of being able to take care of the unexpected, without having to worry about what might happen with the loss of a loved one, … our role, when you boil it all down … is really to ensure that we can help rebuild lives to the degree money and caring can. That's what we do. And I would like us to talk about that more as an industry.”Williams adds that one of TruStage's strengths is its mutual structure. “This belief in this notion of people helping people, the ability for us to make long-term decisions that really are centered around the member, the ability to ensure that we can invest today with the recognition that we will benefit someone tomorrow.”The show also gets into:Williams' mantra, paying it forward, and how he wears that idea on his arm (see photo) How Williams won a national award for chief marketing officers without being a CMOThe job during Williams' career that was most formative for him as a leaderDiversity, equity and inclusionLinks for this show:TruStageTruStage's CUESolutions provider pageKey Strategies for Setting Up a Diversity & Inclusion Program with Angela Russell from TruStageCUESolutions providers are trusted credit union suppliersTranscript

The Dia de Muertos observance returns to the driftless region, a new accounting firm is ready to help small businesses succeed and one of Madison's biggest employers has a new CEO.

Steve Rick, chief economist at TruStage, expects the economy to slow in 2024 -- resulting in "a growth recession" rather than a traditional full-blown economic meltdown -- likely staving off a major stock market decline. Rick says he has heard from more nervous bank and credit union top dogs who are scared about economic conditions than at any time in his 30 plus year career and he worries that a slowdown in lending could be a trigger for something bigger and worse than he currently expects. Also on the show, Tom Lydon, vice chairman, VettaFi make a managed-futures fund his pick for ETF of the Week, Chuck talks the $1.2 billion Powerball jackpot from Wednesday night and why the lump-sum payment was one of the lowest any big-prize distributions in years, plus Brian Drubetsky -- manager of the Cullen Small Cap Value Strategy fund -- talks small- and mid-sized stocks in the Market Call.

We bring more news on the historic UAW strike against the Big 3 automakers, including coverage of a solidarity rally in Milwaukee and an analysis of the strike's impact by Frank Emspak, along with news of struggles at TruStage, UW-Oshkosh and more. THIS IS A PLEDGE WEEK EDITION.

Today, we get news on a walkout at a local Starbucks, hear about teachers and supporters switched a school board vote in Monona, catch up on the potential UAW strike, get news from the union at Noble Knight Games and catch up on other area labor actions, hear what happened at this year's LaborFest and at NAACP Labor Week, and more.

Discussing the fintech funding landscape with a focus on DEI initiatives and Credit Unions

Today, we have an update on negotiations involving OPEIU Local 39, who are dealing with both TruStage and MG&E, and also the IBEW's negotiations with MG&E. We hear about what newly-unionized workers at Starbucks and Madison Sourdough are fighting, take a closer look at gerrymandering in Wisconsin, hear about the Yellow Corporation bankruptcy and how some animators are working to be union superheroes, and more.

Today, we have an update workers' fight for a fair contract at TruStage, learn what to expect from changes in the Wisconsin State Supreme Court, get an update on the writers and actors strike, look at a report showing the tie between unions and improved civil rights, hear about the action at Leinkugel's brewery, learn what the feds have said about child labor at McDonald's and safety at Dollar General, hear about a proposed national day of action at Starbucks this Monday.

Dane Dances returns for the 24th year on Friday, TruStage office workers are ready to strike again, and the dragon boats will be racing in Oshkosh this September. Plus, our Midsummer Membership Drive starts today! You can join THE FAM to support independent local community media at Madison365.org/TheFam.

The hot union summer continued this week with the historic and game changing Teamsters victory over UPS (and their Wall Street backers). The breakthrough is part of an upsurge in labor activism across the nation. What does it mean and where will it lead? We dig in with a great Wisconsin example, an in-depth interview with Will Roberts from the TruStage workers union to discuss their intense battle for a fair contract. They have a major rally and march this Saturday, July 29th starting at 9 AM in Madison. During this hot week, we ask what's up with the climate justice agenda in Wisconsin? Following a state budget that saw the removal of Governor Evers' top climate items by Legislative Republicans and a Milwaukee Journal Sentinel story this week detailing how a year after its creation, the state's Office of Environmental Justice remains largely dormant. What's next in the fight to head off a climate cataclysm and create family supporting jobs? The Federal Reserve Bank increases rates again this week and shortly following the largest increase in voucher funding a conservative Christian foundation buys the Cardinal Stritch University campus where a new voucher school seems likely.

This is your WORT local news for Thursday, July 27.Bars and restaurants in downtown Madison are invited to go through a now-free violence prevention program,Former mayoral candidate Gloria Reyes launches a new grassroots political organization,Workers at TruStage are preparing for a strike this weekend over what they say are unfair labor practices,And in the second half, a former gang member finds a better life in dog breeding, how to tell the difference between sealant and caulk, and a trip back in time with tintype photography.

Today, we review the recent UPS contract agreement, get an update on OPEIU at TruStage, hear about a new contact at Kohler, discuss workplace heat standards or lack thereof, discuss the civil rights issues around the teacher firing in Waukesha, hear about a big restaurant wage theft finding, and more.

Frank Emspak comments on “Strike Summer.” Today, we share the latest news on the Teamster-UPS negotiations, the OPIEU-TruStage battle, the actors and writers strikes in Hollywood, and a successful organizing drive at Stanford University. We also take a look at a teacher firing in Waukesha, a local call to end the horrors of US border policy, right-wing efforts to lower the working age, and more.

Scott Knapp, chief market strategist at TruStage, says that while there has been rolling softness in the economy, he believes the Federal Reserve sees inflation as being worse than unemployment, which makes the central bank so determined to curb inflation that it hikes rates and/or delays rate cuts until the jobless rate rises enough to trigger a recession. And while Knapp acknowledges that the Fed could thread the needle perfectly, he notes that he doesn't think a soft landing is the probable outcome. Also on the show, Kyle Guske of New Constructs puts a mutual fund in the Danger Zone for performance that he says has been much less than management's investment style should have produced, Olivia Newport covers a Choice Mutual survey showing that inflation has impacted Americans' funeral preferences, and author Michael Thomsen discusses his latest book, 'Cage Kings: How an Unlikely Group of Moguls, Champions, and Hustlers Transformed the UFC into a $10 Billion Industry.'

This week we have a message direct from a worker at Madison Sourdough. We also take a look at the latest in OPEIU-TruStage and Teamsters-UPS negotiations, learn about an NLRB finding on Madison's Crushin' It Apparrel, see where the labor-endorsed Juneteenth resoluton is at in Madison, and--actors join writers on the picket line in Hollywood.

“Let's change the world and do it together.” - Gerry SingletonThank you for tuning in to episode 164 of The CUInsight Experience podcast with your host, Randy Smith, co-founder of CUInsight.com. This episode is brought to you by PSCU, the nation's premier payments CUSO and an integrated technology solutions provider. Visit PSCU.com to learn more and discover PSCUTV, a new thought leadership platform hosted by PSCU Chief Growth Officer, Brian Scott. Each episode explores top-of-mind insights in the credit union industry.My guest on today's show is Gerry Singleton, President & CEO of the Montana Credit Union Network (MCUN). Gerry shares the career journey that led him to credit unions 25 years ago. His journey began with TruStage, formerly known as CUNA Mutual Group and today he continues to foster his impact working with MCUN to support and serve credit unions and their members in Montana. He is excited for the future and believes credit unions can provide solutions for people and communities through collaboration.During our conversation, Gerry and I talk about embracing collaboration to empower the credit union industry, globally. He talks about the power of mutual support and helping financial institutions across the industry become more relevant and effective. Gerry shares the lasting impact mentors have had on his career and life, and how he pays it forward to the next generation. Listen as we discuss ways to connect dots within the credit union industry and continue driving forward.As we wrap up the show, listen in as Gerry talks about his word of the year and how he puts it to action, his book recommendations, and his love for 1920s musical artists. Enjoy my conversation with Gerry Singleton!Find the full show notes on cuinsight.com.Subscribe on: Apple Podcasts, Spotify, Stitcher Books mentioned on The CUInsight Experience podcast: Book List How to find Gerry:Gerry Singleton, President & CEO of the Montana Credit Union Networkgerry@mcun.coopmcun.coop         Gerry: LinkedInMCUN: LinkedIn | Facebook | Instagram | Twitter

Today we take a look at the state budget and how it effects education in Wisconsin, discuss a demand by Freedom Inc. for protection for workers during air quality alerts, get the latest word on the OPEIU-TruStage stalemate, learn about workplace safety and child labor violations at a Green Bay meat packer, hear union voices for universal health care, get a local take on the UPS-Teamster negotiations, learn about a Pennsylvania strike, and more.

Today we discuss recent legislation and how it will effect children and families in our state include cuts to childcare, potential changes in child labor laws, and a long look at the state school funding deal. We also share updates on the struggle of workers at Trustage (formerly CUNA) and Teamster-UPS negotiations, celebrate a win for Madison teachers and a birthday for the state civil service system, look at a pay discrimination settlement in Verona, and more.

Today we take a deep dive into noncompete clauses and how they effect workers, hear from a Teamsters negotiator on today's UPS strike authorization vote, find out about plans to celebrate Juneteenth in a big way, get an update on the strike at Trustage (formerly known as CUNA Mutual), contrast Wisconsin's state budget with that neighbor's to the west, and more.

“We believe in credit unions.” - Bob Trunzo In episode 162 of The CUInsight Experience podcast, host Randy Smith, a co-founder of CUInsight.com, sits down with Bob Trunzo, President and CEO of TruStage, (formerly CUNA Mutual Group).After the recording of this episode Bob announced his retirement. You can read all about that here and learn who will be taking the reins from Bob this fall. Congratulations Bob!This episode is brought to you by CUES, the credit union industry's leading talent development solutions provider. After listening to our show, be sure to learn more about TalentNEXT, the conference that takes a laser-focused look at smart people strategies for your credit union. Register today!In this insightful conversation with Bob Trunzo, he recounts his career journey at CUNA Mutual Group, culminating in their recent rebranding to TruStage. TruStage, a mutual insurance company, has a global reach, providing insurance, investments, and cutting-edge technology to credit unions and their members. The team at TruStage sees this brand change as a prime opportunity to enhance their service and strengthen the credit union movement.During our discussion, Bob shares his insights on the rebranding process and adapting for the future while remaining dedicated to the credit union industry. We delve into the significance of delivering a seamless experience for members and the necessity of adaptability to maintain relevance. Bob also reveals the most impactful investment he made in his career and the invaluable role of having mentors by his side. He underscores the importance of listening as a leader to gain diverse and valuable perspectives. Join us as we explore the future of TruStage, its unwavering commitment to credit unions and their members, and its rich legacy of support.As we conclude our conversation, Bob reflects on the last time he experienced genuine amazement and emphasizes the crucial balance between family time and being fully present in the moment. Prepare to be inspired as you join me in this engaging discussion with Bob Trunzo!Find the full show notes on cuinsight.com.Subscribe on: Apple Podcasts, Spotify, Stitcher Books mentioned on The CUInsight Experience podcast: Book List How to find Bob:Bob Trunzo, President & CEO at TruStage (formerly CUNA Mutual Group)trustage.com         Bob: LinkedInTruStage: LinkedIn | Facebook | Twitter | Instagram

Today we take a long look at a Supreme Court decision that will undermine union power, get an update on the strike at TruStage (formerly known as CUNA Mutual), check in the new leadership in the TAA, hear an update on talks at MGE, get word on the impact of AriensCo layoffs in Brillion, hear about the new IBEW contract at Colectivo Coffee, share the latest US jobs report and more.

We're back with another weekly roundup of the labor news. This week was a big one, and after a few quick headlines we discuss developments in the ongoing strike by grad students at the University of Michigan, now facing police harassment at home. Next we get into the biggest story of the week, the Supreme Court's ruling weakening the right to strike in the Glacier Northwest case. We discuss immediate impacts and how unions can adapt moving forward. REI ramped up union busting this week, threatening to cut pay for workers at the first union location in SoHo. Thousands of workers and even some business owners protested in cities across Florida last week against the state's new racist immigration law. Over 400 workers for TruStage in Wisconsin struck to force their employer back to the bargaining table. Finally, we close with the story of workers at Barboncino in New York who are poised to become the first union pizza shop in the city. Join the discord: discord.gg/tDvmNzX  Follow the pod at instagram.com/workstoppage, @WorkStoppagePod on Twitter,  John @facebookvillain, and Lina @solidaritybee

Andrew Spar, President of the Florida Education Association joined the America's Work Force Union Podcast to discuss the ongoing attacks on educators in Florida. Spar also talked about the increasing trend of banning books in schools, the growing pressure on school superintendents and how recent laws have forced public sector unions to reassess their position. President and Business Manager of the Office and Professional Employees International Union Local 39, Kathryn Bartlett-Mulvihill, joined the America's Work Force Radio Podcast to discuss the ongoing strike at Trustage. Bartlett-Mulvihill also highlighted the multiple stalling practices being used by the employer and what issues still remain unresolved in the bargaining process.

We do an update on the strike at TruStage (formerly CUNA), hear about yesterday's union election at the State Street Starbucks, look at a walkout at Amazon, take a look at the recent debt ceiling deal and how it will affect workers, learn about a rally for workers at the recently closed MasterLock plant in Milwaukee and much more. THIS IS A PLEDGE WEEK EDITION. You can donate this week and always at wortfm.org/donate/

On this week's roundup, workers at the former CUNA Mutual group (now called TruStage) launch the biggest strike Madison's seen in a decade. St. Vinnie's now offers more than just old couches; you can get a loan! And Madison's restaurant community mourns one of their own, Hot Lunch co-owner Roger Barts.  Plus, the World Naked Bike Ride is headed our way soon. Now you know. Rounding up the news today are City Cast Madison's Bianca Martin and Molly Stentz.  Mentioned on the show:

This is your WORT local news for Thursday, May 25.Folks experiencing cardiac arrest in Dane County are nearly twice as likely to live in Dane County compared to the rest of the country,Union workers at TruStage, formerly known as CUNA Mutual Group, have overwhelmingly voted to extend their strike,And in the second half, requesting records from quasi-governmental groups, Memorial Day weekend brings great fishing weather, and the latest from Forward Madison FC.

Establishing healthy financial habits begins at a young age. If you're a teenager or have one at home you should be happy to know that credit unions provide excellent resources and tools to provide the best start for building a healthy financial future.   Links:  Learn more about our Teen Club benefits Read our blog: Building Credit as a Teen Learn more about our Shared Branching benefit. Learn more about our TruStage benefit Follow our Facebook, Instagram and Twitter pages! Learn more about Triangle Credit Union Transcript: Welcome to Money Tip Tuesday from the Making Money Personal podcast.  Although many believe they are the same, credit unions and banks have different qualities and benefits.  Credit Unions are special because they are owned by their members. As a member, you own a share of the institution and have access to all the financial tools and resources to make your financial journey a success.   Whether you're a Teen Club member who has graduated from our Kids Club, or just opened a new account, credit unions are a great choice for those who want a financial institution that grows with you.  Credit Unions have a lot to offer their members but there are 3 specifically that are most beneficial to teenagers.   1. Credit Builder Loan  With traditional loans, the borrower receives the money first and then pays it back monthly.   With a credit builder loan, the borrower does not receive the money immediately. Instead, the lender holds onto the total loan amount while the borrower makes monthly payments towards it. Once all the payments are made, the borrower receives the full amount.   With your Triangle Credit Union Teen Club Checking and Savings Accounts, you can be eligible to apply for a low fixed-rate 24-month personal loan up to $400 with a co-signer.   This personal loan is the perfect way to begin building credit as a teenager while also creating good financial habits and showing credit bureaus you can make payments on time.   2. Co-Op Shared Branching  Triangle Credit Union is part of a network of institutions allowing members the opportunity to conduct their banking transactions with Co-Op Shared Branches at over 5,000 locations across all 50 states, Puerto Rico and Guam.  At a Co-Op Shared Branch, members can deposit cash or checks, make loan payments, transfer between accounts, and access notary services to name a few.   This is beneficial to you as a member because it allows you to travel, or even move, across the country without the hassle and worry of encountering fees should you need to visit a branch.   If you choose to attend college, Co-Op shared branching gives you the freedom to attend college out of state while still being a member of Triangle Credit Union.   3. Discounts with TruStage  As a member of Triangle Credit Union, you can get special discounts on auto insurance through the TruStage Auto Insurance Program.   Getting your license is an exciting time in your life and saving up to buy a new car is rewarding.   Protect your investment with auto insurance customized to fit your needs.   In addition to competitive rates, TruStage offers our members:   Claims-Free Discount—If you are claim free for 5 years, you can earn an additional discount on auto insurance.  Violation-Free Discount—Save more on your auto insurance when you've gone 3 years without a ticket.  Online Purchase Discount—Save up to 12% on a customized car insurance quote when you sign up online.   New Car Replacement—If your car is totaled within the first year, you'll get enough to buy a new car (without worrying about depreciation)  Accident Forgiveness—Your rates won't go up due to your first accident    These are just a few of the many services available to you as a Triangle Credit Union Teen Club member—and with a full array of financial tools and resources, we're excited to be part of your financial journey.  If there are any other tips or topics, you'd like us to cover, let us know at tcupodcast@trianglecu.org.  Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.   Thanks for listening to today's Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.   Have a great day! 

Financial wellbeing - It's a topic that's been getting a lot of attention of late as members struggle with the myriad economic challenges of the pandemic—from the job losses of the early days of COVID to the supply chain issues and inflation of today. An important way for credit unions to help members improve their financial wellbeing: Make simple and cost-effective insurance available to help protect two of their most valuable assets, their home and their vehicles.

Foundational credit union values can lead to profound impacts on your members and the communities you serve. Life insurance is one of the ways you can enact meaningful change.  This September, use Life Insurance Awareness Month as an opportunity to start shining a brighter light on the role it plays in protecting members' financial wellness and building a stronger community. 

The reasons for taking a wait-and-see approach are long over. Also gone are the days of completing a digital task list and moving on to other priorities. Accelerating your credit union's efforts to deliver the next generation of digital channel integration is a must have to succeed in a post-pandemic world. But it's less about the technology and more about your members. Because without them, your brand doesn't exist. Listen as Jeff Dillon and Adam Malka share ways your credit union can elevate your digital strategy, accelerate your digital roadmap, and win by keeping your members front and center.

Applications for life insurance increased significantly in 2020. Join our discussion about member perceptions around life insurance, effective ways to educate them, and things your credit union can do to make it easier for members to get the peace of mind they need.

Recent trends indicate that consumers don't stick to just one approach when searching for and purchasing auto and home insurance. While personal interaction is still important, experts recommend a newer multi-channel approach to meeting your members where they are today. Listen for some innovative ideas on how your credit union can deliver more value to your members by helping them evaluate and choose insurance options.

Tune in to learn about some of the impressive research behind the effectiveness of direct mail, and how it's likely to be the unsung hero of credit union marketing. When done right, direct mail can improve members' overall experience and make it easier to engage them at the right time with the right product. We're talking with experts who work with credit unions across the country, helping them develop targeted marketing strategies that allow them to protect more members.