Kimsey Hollifield, the President of Hollifield Financial Group, has revolutionized his business approach to long-term care (LTC) planning by incorporating Waterlily's advanced predictive analytics. By using Waterlily, Kimsey has achieved remarkable success in client acquisition and asset management, bringing in $1.3 million in new assets from just three clients.
Transforming the LTC Conversation
Before adopting Waterlily, Kimsey found LTC discussions challenging. The traditional approach often felt morbid and was typically accompanied by expensive LTC pitches, which made him uncomfortable. As a result, he often avoided these conversations. However, Waterlily’s modern and user-friendly platform changed everything.
"Waterlily has given us an LTC differentiator. It’s an interesting juxtaposition that the program feels young and smart and visual and solves a problem most needed in old age. We have made Waterlily a part of our client onboarding process and have already seen a massive difference in providing comprehensive financial planning," Kimsey shared.
When Kimsey was first testing the Waterlily platform he shared with us how his wife saw what he was doing, and asked to try it next to see her future predicted LTC needs. He emphasized just how atypical that kind of response is to the long-term care conversation - most people want to shy away from or procrastinate on the topic, it was amazing to see people be eager to approach the planning conversation when it's presented in this way.
Real Success Stories: Achieving 100% Client Conversion
Kimsey recently started using Waterlily and has already seen a 100% successful conversion rate using the platform with prospective leads and converting them into new clients, attributing this success to the platform's capabilities. Here are a few transformative stories:
Case 1: Addressing Uninsurable Conditions with Confidence
A husband with kidney issues could not qualify for traditional LTC insurance. After attending a seminar where Kimsey introduced Waterlily, the couple set an appointment. Through Waterlily’s detailed questionnaire, it was projected that the husband would need care at age 87. Using this information, Kimsey recommended a Fixed Indexed Annuity (FIA) with an income rider that doubles the amount for LTC. This strategy covered the projected LTC costs and secured $520,000 in assets for the client.
Case 2: Managing Parkinson's with Predictive Planning
Another prospect, whose wife has Parkinson's, was deeply concerned about future LTC costs. Waterlily’s analysis projected the necessary care costs, and Kimsey was able to move $322,000 into an investment plan to cover these expenses, providing the couple with a clear financial strategy for the future.
Case 3: Proactive Financial Planning
In another case, Kimsey utilized Waterlily's platform to project LTC needs for a client, pinpointing specific financial strategies well in advance. By doing so, he was able to allocate $300,000 into an income plan, ensuring the client’s future care needs would be met without financial strain.
Conclusion
Waterlily has not only enabled Kimsey to have productive and reassuring LTC conversations with his clients but also transformed his business approach. The platform has driven significant ROI by bringing in $1.3 million in new assets from just three clients, all of whom converted and took action based on the predictions from the Waterlily platform and Kimsey's expert guidance, resulting in a 100% success rate.
"The positive comment we keep hearing is the sense of relief. People are really worried about LTC costs, but they don’t understand how to cover it and what their actual costs will be. This is a forward-thinking visual approach that has resonated with everyone we have shown it to," Kimsey noted.
Kimsey’s experience with Waterlily highlights the platform’s ability to transform complex LTC planning into a clear and manageable process, ensuring peace of mind and financial security for clients' future care needs while driving substantial business growth.
