There is no shortage of highly talented advisors serving the senior market. We at Senior Market Advisor are reminded of this fact every year as we sift through the many dozens of thorough nominations we receive for what has become one of the most prestigious honors in the industry for an advisor.

It’s no easy task to whittle the nominations down to five finalists, and it’s even harder to select the winner, who will be announced at Senior Market Advisor Expo at Wynn Las Vegas August 22-24.

All of the finalists passed rigorous background checks through the National Ethics Bureau, and extensive research was done on a number of candidates before we selected the finalists. In addition to some eye-popping production figures, each finalist possesses qualities that lift their practices above the crowd. They prove that an ethical, client-first approach combined with effective work habits can really work in a big way. They use progressive techniques, have captivating personalities, they give back to their communities, and offer a willingness to share the secrets of their success with other advisors, all of which work for the betterment of the industry at large.

Read on to learn how they have reached this elite level, and don’t miss seeing all five in what promises to be a lively discussion at the Advisor of the Year Finalists Roundtable, the middle-day keynote event at Senior Market Advisor Expo.

Fred Cowley, CIC, owner of Cowley Financial Group in Fort Worth, Texas.
Family: Married to Sheila Clark Cowley for 49 years on Aug. 23. Son Ryan works as a producer in the firm, and is married with three children. Older son Clark is an attorney specializing in intellectual properties.
Education: B.S. and M.S. from Abilene Christian University.
Years in industry: 36
2006 Personal Production: $8,752,000 in annuities; $15,000 in LTCI premium.

Fred Cowley, as of mid-June, was the No. 1 producer this year for FMO GamePlan Financial Marketing LLC, with more than $10 million issued. He was AIMS’ (Allianz Income Management Services) No. 1 producer in 2006 as well, says Edward W. Nolan, vice president, Allianz Advanced Sales, GamePlan Financial Marketing LLC.

“It is such a pleasure for me to work with Fred,” Nolan says. “I have nothing but the highest admiration and respect for him. He always puts his clients first and is truly deserving of his success. I wish I had 100 more agents like him.”

A 35-year industry veteran, Cowley has been a guest lecturer in 49 states, Canada, Puerto Rico and Great Britain. As of mid-June, he was also on the verge of having his local radio show, “Protecting Your Profits,” become nationally syndicated.

1. Tell us about your journey to the senior market — how did you get here, how long have you been here, and what keeps you here?
   
   Fred Cowley: I first became a registered representative with Ordway-Saunders Securities Corp. in 1971. I was blessed with a $40,000 REIT sale to an 85-year-old chiropractor whom I later converted to Christianity along with his 84-year-old wife of 65 years. After becoming president and principal stockholder of the firm, I later sold my interest and moved to Fort Worth to build a new firm.
   We then proceeded to see the developing needs of senior adults as life expectancy was being extended and the attendant costs of retirement and health care became more critical. Subsequently, I discovered I, too, was a senior adult and firmed my conviction to treat my peers the way I would desire to be treated under similar circumstances.


2. What are the biggest keys to the success of your practice?
   
   Cowley: One must always relate to the needs of the prospect who is sitting in front of you. You must not be “pushy,” but always be more concerned with their well-being than your own. Our business card states, “We Listen.” A gentle, calm, kind spirit reaps multiplied results. Never criticizing others along with giving permission to say “no” has shown us to be trustworthy, caring and honest. Further, to successfully market solutions and strategies, one must also own the products yourself. That is to say, “I personally practice what I preach.”


3. What do you see as the biggest issues facing the industry and/or your practice?
   
   Cowley: Perhaps the greatest challenge is in combating false ideas and rhetoric from those who are not qualified to be critics. They show up via the Internet, newsprint and airwaves. It is unethical to set forward untruths about various strategies that, in turn, adversely influences seniors to pass up the very solutions which could make a major difference in their retirement existence. One should never set forth misleading concepts that will lead prospects to ignore and miss the very strategies they need to comfortably survive retirement and health failure.


4. What has been your most effective method of prospecting for new clients?
   
   Cowley: Having built my practice through workshops promoted first by direct invitation and then by full-page newspaper ads, we have now turned to an information and fact-filled weekly radio show. This practice has enabled us to enter nearly 20,000 homes every Saturday morning. Through a dedicated, toll-free line, we are setting 20 to 40 appointments per week. The radio show has enabled us to double last year’s volume in the first quarter of this year. Due to demand, with a turnkey program, we are syndicating the radio show through other agents in other markets throughout the country. Previously, we hosted three to four workshops per month.


5. Tell us about your community involvement, and what kind of effect has it had on your practice?
   
   Cowley: I am quite involved with my church in reaching out to 75,000 unchurched people within three miles of our location. These are people whose lives are wrecked with alcoholism, drugs, pregnancies, poverty and incarceration. We go to the jails and the neighborhood with love and genuine caring for their needs. They are hungry for something spiritually fulfilling, and God is using our various ministries to fulfill their needs and heal their pain. Because of our proximity to a major university, Texas Christian, we are also reaching out to students through an “adoption” ministry to give these students attention and a home away from home. Since the school’s mascot is a horned frog, we have named the program “Adopt a Frog” ministry. We have found that God rewards investments made on His behalf and that every act rewards itself. Our practice has been richly blessed by assisting others in meeting their needs when their own methods have failed.


6. Tell us about your typical work schedule — how many hours a week do you usually work, how many appointments per week, how often do you take vacations, do you give seminars, etc.?
   
   Cowley: I take appointments as early as 7 a.m. and as late as 8 p.m. Monday through Friday, when requested. If a prospect or client needs me on Saturday, I will make time available at their convenience. My job is to be a servant to my clients. My hour-long radio show, “Protecting Your Profits,” is aired live every Saturday morning and then it’s off to the office if needed. I average four appointments per day, Monday through Friday, and usually one or two on Saturday. We have added three producers, one of which is my son, in order to accommodate the demand for personal interviews. My wife and I find pleasure in taking our two sons and their families on one-week trips to the mountains for skiing in the winter or elsewhere in the summer. For us, our family vacation is an important function that allows us to experience a very close relationship with our children and grandchildren.
   
   
7. In the next five years, how do you see the landscape of what you do changing?
   
   Cowley: Successful producers will have to work harder and compete smarter to attract prospects which fit their market tier. This is going to require more dedication to ongoing educational opportunities. Also, we must continue advancing our marketing skills, using the media to attract an audience and be competitive. I personally have no plans to retire, but do have a succession plan in one of my sons. Marketing is the key now and will continue to be a challenge to capture clients with legitimate solutions to protecting your profits. My goal for our clients is to help them to remain financially secure as late in life as possible.