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Pitch Me Podcast
Six Pages That Separate Winners from Losers
00:45:26
Laurent doesn't just sell insurance. He's built a machine that turns incorporated Canadian business owners into generational wealth builders using tax-free life insurance strategies that most advisors are too scared to recommend. And he's got 14 years...
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- [00:00]
Kayvon K
Welcome to Pitch the podcast where real salespeople, entrepreneurs and business owners step into the spotlight to pitch their products or service and get unfiltered real time feedback from the 38 million dollar high ticket sales titan himself, Davon K. No fluff, no sugar coating, just brutal honesty, actionable insights and next level sales strategies to help you close bigger deals faster. If you want to pitch like a pro, dominate every sales conversation, take your business to the next level. You're in the right place. This is Pitch Me. Let's get started. And we're back on another episode of Pitch Me. And today we have a special guest, Laurent Munay from Safe Pacific Financial. Welcome to the show.
- [00:43]
Laurent Munay
Thanks so much for having me.
- [00:45]
Kayvon K
How you doing today?
- [00:46]
Laurent Munay
I'm doing great. I'm ready to do this. I'm actually quite excited.
- [00:49]
Kayvon K
I love it. Just so listeners understand. Where are you calling in from?
- [00:52]
Laurent Munay
Uh, I'm based in Vancouver, Canada and we have clients all across Canada.
- [00:56]
Kayvon K
We only work Canadians though, so Canadian based company. I love it. And tell us a little bit about Safe Pacific Financial. What is it you do there? Who's your ideal kind of client? You know, your audience and we'll get into it.
- [01:09]
Laurent Munay
All right, so Safe Pacific Financial is me and a partner. We're now a team of six and we started in 2011, so we've been doing this for 14 years. And we work best with incorporated business owners who are profitable, who have kids and who own real estate, whether that's the house that they live in or they have rental property somewhere else and they rent where they live, that's fine. Generally, we want them to be the kind of like, abundant lifestyle type of people who have an open mind and positive experience, nice people to work with. We're far enough into our career where we don't work with dickheads. You know what I mean? Like, we just don't do that and we don't have to, you know, people who reply to emails and just show up to meetings on time. It's not a, not a huge hurdle to get over, but it's actually surprising how many people trip over that hurdle.
- [02:00]
Kayvon K
Yeah. So I mean, what I'm hearing from you is kind of one of the number. You know, the rules in business is client selection. Right. In order to be effective, you got to be selective.
- [02:08]
Laurent Munay
100.
- [02:10]
Kayvon K
What I would love to understand more though is, is really who this type of, you know, this avatar truly is, because it sounds still a little vague to me outside of they have to have a corporation. Okay, Check the corporation you said needs to Be profitable. Is that $1 profit? Is that a million dollar profit? What is that? You know, what's the EBITDA on a, on a typical business you would work.
- [02:33]
Laurent Munay
With doesn't hugely matter yet because we can kind of help them along the way. So we are in the financial services industry and we're heavily focused on the insurance side of that and the planning side of that and also on the, the savings and investment side of that. So if you're a business owner that is got your $1 of first profit, there's probably some things that we need to do for you which would be to help you, to protect your, your growth, which would be things like life insurance, critical illness insurance, disability insurance, which is your standard stuff. And you should have a base of that to move forward when you start making say more than you need to spend and live your life. So that depends on the person. But usually this starts to get into like you're making 100k plus profit annually on a consistent basis. Then we can get into stuff like, okay, now what do I do with this extra savings money, retained earnings that's inside my company. Because if you take it out of the company, so you got to pay yourself a salary or dividends, you're going to get hit with a huge tax bill because you're probably already in the highest tax bracket in Canada, which depending on your province could be up to like over 50%. So generally business owners don't want to do that. And generally their accountant also says, you know, maybe don't do that. But they also don't want that money just sitting in a bank account doing nothing. So they want to have it invested and they want to have it growing. And then this is where we can show them some things that are really special and really specific that you can only do with the right types of life insurance in Canada because of the way that the rules and the laws are set up and because of the way the taxes are set up on life insurance in Canada. Life insurance in Canada is actually, it's tax exempt and you can put cash inside certain types of life insurance policies and then that cash can grow tax deferred for as long as you want, as long as you don't take the money out. So this is, there's a, a bunch of different names for this concept.
- [04:34]
Kayvon K
What are the names for of these concepts? Because I know I, I know I was in one of them at one point, right.
- [04:40]
Laurent Munay
So they're all generally the same thing. But what happens is different people write different books and then they Trademark. Well, my version is called this and that guy's version is called that. But if you've heard of things like Infinite Banking or bank on yourself or immediate financing Arrangement or family banking, or be your own bank insured retirement plan, all of those things are generally the same kind of concept with some tweaks, you know what I mean? Like, but they're 95% the same. It's just that different people call it their thing and they trademark it. And actually, speaking of which, we are joining that club. We have a book coming out next week and it's going to be called the Wealth Multiplier. And we. Okay, we've got our version of it which is really specific for. For Canadian business owners. If you have an incorporated company in Canada, the Wealth Multiplier is the way you want to go. The other ones are good. We support those, but they're more general and they're for everybody. And a lot of them are very American in the way. So the tax rules and things like that are a little different in Canada. So.
- [05:50]
Kayvon K
Yeah, absolutely. So you're taking care of more Canadian business owners?
- [05:54]
Laurent Munay
Only Canadian business owners only.
- [05:55]
Kayvon K
Only Canadian business owners.
- [05:56]
Laurent Munay
We don't work with anybody outside of Canada.
- [05:58]
Kayvon K
I want to go deeper here because again, you're. To me, it's still casting a wide net. So how long. How long you been in business?
- [06:06]
Laurent Munay
You said 14 years.
- [06:07]
Kayvon K
14 years. And how do you currently get your, you know, your customers coming through the door? Are you running funnels? Obviously you're running a book, so you're gonna start doing a book, A book funnel. How else are you bringing in customers today?
- [06:19]
Laurent Munay
So right now, all of our customers come from two things. One, they come from online through our website.
- [06:25]
Kayvon K
Okay.
- [06:27]
Laurent Munay
Two, they come from personal referrals or us just meeting people and talking about what we do. And then they say, oh, I need that.
- [06:34]
Kayvon K
And then when they get on. And then I'm assuming they come through the website, they read some information, they get on a call, they book a call with you guys?
- [06:41]
Laurent Munay
Yeah, it depends. So when they read through our website or a lot of times they come to us from YouTube. We produce. We've got over 400 videos on our YouTube channel we upload every week. And a lot of it actually comes from YouTube. And so when they come to our website, they. They don't book directly in our calendar. We've actually put a step in front of that. I know that we could get more conversions if we allowed that, but. But we also don't want random people straight into our calendar. So they fill out a form. It sends us an email. Somebody replies to that email. Because depending on what people say, yes, we've got a pretty, like, formulaic reply, but we also customize it, depending on what you say. And then there we include the link where you can book a time.
- [07:33]
Kayvon K
If they want to book a time.
- [07:34]
Laurent Munay
Yeah.
- [07:34]
Kayvon K
Okay, I want to. Before we do that, I want to. I want to step back again to really understand if I said to you, you know, your book of business right now, are they more like doctors and lawyers? Are they chiropractors? Are they like online entrepreneur? Like, what. What's that mix of bag? Because, you know, like, there's a lot of. I own a corporation in Canada and, you know, I make X amount of dollars that satisfies the needs of these, These programs that you do. Is there a specific niche that you speak to or you kind of go after?
- [08:11]
Laurent Munay
Profitable business? Owner is actually a very small niche. So if you go to Statistics Canada, about 3% of Canadians own a company.
- [08:21]
Kayvon K
Okay.
- [08:22]
Laurent Munay
Out of that, is it really only 3%? Yeah, yeah. Like, not a lot of people own a business that's incorporated. There's a lot of, like, anyways, there's a lot of, like, I'm a web designer and I kind of work for myself and I'm a consultant.
- [08:39]
Kayvon K
Yeah.
- [08:39]
Laurent Munay
Contract kind of stuff like that. But incorporated business. And then out of that, 60% of those will make it to five years. So we can assume that if you made it to five years, you've got some sort of profitability. So out of all Canadians, the people that we speak to is sort of like 1ish percent of people. Okay, it is. It sounds big when you say business owner, but in reality, it's a very specific niche. And you were asking, like, what types of people do we work with? So in our CRM, we actually do mark the industry that people are in.
- [09:14]
Kayvon K
Yeah.
- [09:15]
Laurent Munay
What's kind of crazy, which we didn't actually know this, but lawyer is the number one. The volume of people that we have is. Lawyer is the number one. There's a lot of incorporated lawyers. Lawyers are great clients for us because they understand contracts, and insurance is a contract. And they read it, they get it, they say, yes, this makes sense. Go. Lawyers are great for us. Other accountants are great clients for us. Engineers are great clients for us. The analytical types of people who will take our numbers and break them down and they'll say, send me the Excel spreadsheet and let me. Yeah, let me break it and I'll send it back to you. And Ask you questions.
- [09:53]
Kayvon K
Yeah.
- [09:53]
Laurent Munay
100%. Love those guys and girls. Consultants. Consultants are great because they, their problem is they, they. So it's, it's an advantage and it's a problem. So their problem from a tax perspective is they don't have enough expenses and they can't just create. Like, they can't just go buy a $2 million machine. Right. A consultant generally has like an office, a laptop, a phone, a car, coffee, meetings, a printer. So, like, what, what expenses do you want? And we, we have clients like this who said, you know, the, the accountant wants me to have more expenses so I can write down my taxes, but like, what am I going to do? I'm going to just print paper all day and, and rack up my printing bill. But like, I can't do that. So they have a tax problem, especially if they're successful, because they've super high margin. So you could be a consultant doing $2 million a year in revenue. You're probably keeping like 1.5 of that.
- [10:48]
Kayvon K
Yeah, yeah, yeah, for sure. In consulting. For sure. So what I'm hearing now is, see, we're getting a little bit more clear.
- [10:54]
Laurent Munay
We have a lot of chiropractors and physiotherapists, people in the healthcare space. Doctors, all different types of doctors, like anesthesiologists to general practitioners to. Yeah, a lot of people. Generally there, it's the owner of the clinic.
- [11:10]
Kayvon K
Yeah. So incorporated. Incorporated. Business owners who ideally been in business, you know, five years or more that are experts and, or professionals, like working professionals and experts. Right.
- [11:25]
Laurent Munay
Yeah, 100.
- [11:25]
Kayvon K
Okay, so that's clear. So, and then. Okay, so now that we have that, then the services you couldn't provide, obviously, is just basically wealth management. Basically. But like using the insurance play. Yeah, I know there was, there was the play that I did, I got out of it. It was, you know, I ended up thinking it was a scam, but it was made for more, I think, consistent, like doctors and lawyers. Like income was when you, you put away, you get the life insurance, you put a shitload down, it starts building up like a nest egg and then you can get kind of loan against it.
- [11:57]
Laurent Munay
Yes.
- [11:58]
Kayvon K
Like 10 years later there was a.
- [12:00]
Laurent Munay
Good loan against it. If you do it right, you should be able to loan against it. Like.
- [12:03]
Kayvon K
Yes.
- [12:03]
Laurent Munay
Within a year.
- [12:04]
Kayvon K
Within a year. What's the. There's a name for that. I forget. There was like, it's. I want to say capital loan or something like. But I can't. I can be. You could.
- [12:11]
Laurent Munay
There's a bunch of, again, it depends. There's a bunch of names, but the concept is the same. You put the cash inside and then you borrow against it.
- [12:18]
Kayvon K
You borrow against it, and that protects you against taxes, sort of.
- [12:23]
Laurent Munay
It. The growth inside the policy is taxed. Is. Can be tax free if you do it right.
- [12:28]
Kayvon K
Yeah, yeah, exactly. Yeah. That's what I meant.
- [12:30]
Laurent Munay
Using the money from a loan. Loans aren't taxable if you. Especially if you're doing it from a third party. So you would set up the insurance with a. An insurance company, and then you set up the loan at a different bank. The banks call it an immediate financing arrangement where you put the money in. They give you the money like the next day.
- [12:44]
Kayvon K
Yeah, yeah. And then. And. And you said something about the real estate as well.
- [12:49]
Laurent Munay
Real estate is great for us. Real estate or. Sorry, real estate people. Some. Some real estate people are great clients for us. There's a lot of realtors out there.
- [13:00]
Kayvon K
Yeah. I was like, we'll not go. Listen, some of them not go down that road because we know we're not going to insult realtors.
- [13:07]
Laurent Munay
No, no, we love realtors. But, yeah, the ones we, we like the realtors who have figured out that there's more to life than real estate and they need to diversify a little bit. Developers are actually really good for us because they have huge capital requirements. So say you're going to build all these townhouses and you need $20 million. So you're going to borrow that money. The bank is going to want you to have a big insurance policy because if something happens to you, they need their money back. So developers. What. What often happens is as they do new projects, they cancel that insurance for that project and they get new insurance for this project. And then they. You should just get one and keep it, because each time you're canceling these things and getting it again. Well, you're going to get it again. You're going to be older, it's going to be more expensive. You also might not be able to get it again. So you might have had some sort of health event along the way where now insurance is not accessible to you anymore.
- [14:00]
Kayvon K
Yeah.
- [14:00]
Laurent Munay
And then they need the funding. They need to be able to finance things. So by having. And developers have this like, I'm really rich, I'm really broke. I'm really rich, I'm really broke.
- [14:14]
Kayvon K
Yeah, yeah.
- [14:15]
Laurent Munay
So they're totally broke until. Until this thing sells. And then when it sells, they've got a huge amount of money, but then they put it into the next thing and then they're broke again. And then it. So by putting the cash in here, they get to keep it for a long time. And then when they need to use it, they borrow against it. And then by setting up this borrowing with the bank, they also get a better relationship with the bank, who can now offer them additional financing for other things because they've got a better relationship. They've got more. More security with the bank. So, yeah, developers are great clients for us as well. But you were saying real estate. Yeah. So people who own real estate, and I think it's just a Canadian thing, like, especially in Vancouver, like, it's. Real estate is the only thing you're allowed to talk about.
- [14:57]
Kayvon K
Yeah, yeah, yeah. Love it. Okay, so let's talk about the sales process, because that's what this is all about is, you know, is. Is that. So who do you take the calls? Who take, like when someone books. So when someone actually, you know, fills out, they book, they say, I'm interested. You guys send a booking. Who takes those calls?
- [15:14]
Laurent Munay
Okay, so we are a team of six. We have three licensed advisors. I'm one of them, and we have a licensed admin. And then we have a marketing person and another admin who's not licensed yet. Uh, so when they book, it goes to one of the two other advisors. So my partner Robert or Jordan, our other advisor. I actually don't take client calls anymore. Um, I now am all the way marketing, business development and company growth. Um, so I did take client calls until basically kind of a couple, like a little bit after Covid.
- [15:46]
Kayvon K
Yeah, yeah, you built it. You're now working on the business, not. Not in the business. I love it.
- [15:49]
Laurent Munay
The next step is to get my partner out of taking client calls as well. And like, except for like, the really important ones. And my phone number is still kind of out there everywhere. So I am actually like, people do phone me straight off YouTube. And what's the.
- [16:04]
Kayvon K
And what's the process you take them on through when you get on the call with them? You have a process you follow 100%.
- [16:09]
Laurent Munay
Yeah, yeah. We have a very defined process and every single person has to go through the process. If they don't want to go through the process, it is a massive red flag. And we probably don't want to work with you because why don't you want to do this? It's usually their like, don't want to tell us some information, and that's a big red flag. So the first meeting. So they book in the calendar. It sets up the first meeting. The first meeting Is generally it's on zoom. It can be in person if they request it. We used to do everything in person before COVID Now everything.
- [16:39]
Kayvon K
Yeah, but now, I mean, why Zoom's.
- [16:41]
Laurent Munay
It's like 99% on Zoom, especially if you're outside of Vancouver. Like, we have a lot of clients from Ontario and Alberta, like Toronto, Calgary, Edmonton, or just actually everywhere in Ontario. But sorry, the first meeting, it's a discovery meeting. So we have about six pages of questions that we want to ask.
- [16:59]
Kayvon K
Okay.
- [16:59]
Laurent Munay
So we get very in depth, much more in depth questions than most financial advisors, most bankers are ever going to ask you. And it's broken down into kind of like four sections of the call. So the first discovery call is about an hour. Sometimes if people have really complex situations, like they have multiple companies, they've got stuff in different countries, and. And if they talk a lot, it could go over like, we just closed a client now. Our first meeting was three hours with him and that was totally fine. But he. Yeah, and he's a great guy. And actually we have a couple, actually two. It was doctors. Two. Two doctors where. Yeah, they both ended up having huge long meetings. Sorry, off traffic. The first meeting is.
- [17:45]
Kayvon K
No, I love it, I love it, I love it. Yeah. And yeah.
- [17:48]
Laurent Munay
So the first bit of the discovery meeting is your current situation. So this is your standard questions, like, how much do you make? Are you married? Do you have kids? Do you have a mortgage? Do you have a house? What do you do? Do you have investments? How much? That's standard questions that any idiot banker could ask you. Or any like first year financial, anybody's going to ask you. And usually that's where they stop. Then we want to know, so we know where you are. Then we want to know where you're going. So what are your goals? And we break down goals into personal goals, professional goals, and financial goals. And we keep it in a kind of medium term. So like next one to three to five years, we're not saying like, what's your goal when you're 70? We want to know, like in the next little while, what are you trying to do? And, and people tell us all sorts of different things here, right? And it could be traveling, have more kids, buy a house, sell my business, buy a business. There's all sorts of things that people want to do. Uh, and then we also. Okay, that's great. You want to do all these things. We're on the insurance side, so ours is risk. What can go wrong? So we want to know what are your concerns? So what could throw you off track from these goals and we'd ask about the same types of things. What could throw you off track personally, professionally and financially for this? So this could be things like, I don't know, you get hit by a bus, have a heart attack, get divorced in taxes, go up, trade wars, all sorts of different things that people have concerns on their mind. And we want to know about that. Right? Like what are you thinking about when you go to bed at night and what's your problems? Right. Because that's what we want to address and that's what we want to try to say. Okay, well, you said you had these problems. Well, here's how we address those.
- [19:26]
Kayvon K
Yeah.
- [19:26]
Laurent Munay
Right. And then one thing that the next section that we want to get into is much more philosophical. So this, there's no right or wrong answer, there's no judgment and there's all open ended questions that I don't think a lot of people ask these types of questions. And most times the people that we speak to have never been asked these questions by anybody in their life. Like their best.
- [19:49]
Kayvon K
I would love to understand a couple of those questions.
- [19:51]
Laurent Munay
Yeah, so we want to know like what, we want to know, like your thoughts on money. What's your philosophy on money?
- [19:57]
Kayvon K
Okay.
- [19:58]
Laurent Munay
What did your parents teach you about money? What did they teach you about saving and investing? Do you want to be like your parents? Right.
- [20:03]
Kayvon K
Yeah.
- [20:04]
Laurent Munay
Because again, if you're telling me these things and you're like, I only like blue, blue, blue, blue, I'm not going to show you a plan that says red, red, red, red, because you just told me you don't want that and you told me that you like blue. So I'm going to show you a plan that, that shows you blue. Some actually cool question. The, the, my favorite question to ask out of that section and this section can take a long time because generally people don't know how to answer. And so, and we try to shut up as much as possible and let them talk because we don't want to, we don't want to like influence how they say. So some people tell us numbers, some people tell us how it makes them feel. Some people compare it to other people or like what they could buy with these things. Another cool question that we ask is, you know, if the sky's the limit, how high is your sky? Right. So, yeah, what's enough money? What's a lot of money?
- [20:54]
Kayvon K
Yeah.
- [20:54]
Laurent Munay
And what's too much money? Because for some person, you know, a lot of money.
- [20:58]
Kayvon K
Is there such a thing as too Much money.
- [21:00]
Laurent Munay
That's a great answer. A lot of people answer that way. But some people, right. Like, some people, a lot of money could be a thousand bucks, 10,000 bucks, 100,000 bucks. Some people, a lot of money could be $10 million. And they're all right for their own situation. Right. The too much money question, that is actually like a huge. It tells us a lot. So there again, we try not to tell people how to answer. They could say numbers, they could say all sorts of different things. We get some interesting ones.
- [21:28]
Kayvon K
This is fascinating. So let me ask you this because I love it. All this. It sounds all great. You're getting all of this on the first call.
- [21:36]
Laurent Munay
100%. Yeah, we have to. Otherwise we can't move forward.
- [21:40]
Kayvon K
You can't. Yeah. And then the question, I was just thinking, as a, you know, sales process, do you get any of this information before the call?
- [21:46]
Laurent Munay
No, no, we don't send it in advance. We want to ask questions, we want to ask it, and we want to see you reply.
- [21:54]
Kayvon K
Yeah.
- [21:55]
Laurent Munay
And we want to be there for it. I know that we could create a form online and people could pre fill this stuff out. We get.
- [22:00]
Kayvon K
Well, I would say, I would say, like, my thought process was like, not, you're not gonna get, you don't want to get all that on, you know what I mean? Hey, like, it'd be probably hard to get someone's real beliefs and all that, you know, in a form, but more of like the, the foundational stuff.
- [22:17]
Laurent Munay
Yeah.
- [22:18]
Kayvon K
Right.
- [22:18]
Laurent Munay
How much do you make? Do you own a house?
- [22:19]
Kayvon K
Yeah. Like what kind of like what bracket you're in?
- [22:21]
Laurent Munay
Yeah.
- [22:22]
Kayvon K
What are you looking for? So let me ask you this. How does someone come to you? Like, when, like, how do they know I need you? How do they seek you out? When, when is it that they're like, I, I, I need it, you know, I need this service.
- [22:35]
Laurent Munay
Cool. Yeah. A couple different ways. Sometimes one of their professionals has told them that they need this, so their accountant or their lawyer told them, okay, to look for this.
- [22:45]
Kayvon K
Hey, like, you're mate, you're starting to make, you're starting to make some good money here. And then start looking at how we can protect it.
- [22:50]
Laurent Munay
They Google it.
- [22:51]
Kayvon K
We come up often protecting grow is what I'm hearing.
- [22:54]
Laurent Munay
Protect, grow, and transfer to the next generation.
- [22:57]
Kayvon K
And. Yeah, so you're talking about building generational. Yeah, generational wealth. Yeah. Yes. Yeah.
- [23:02]
Laurent Munay
And then a lot of times people watch our videos on YouTube and they're like, I need that. So, so again, like I said, we've got over 400 videos on YouTube.
- [23:13]
Kayvon K
So yeah, good for you.
- [23:14]
Laurent Munay
People watch that and especially the YouTube thing is great because you know we've got videos anywhere from 10 to 40 minutes on there. Right. Like a lot of them are 20, 30 minutes. So by the time you've watched me explain a financial concept for like 30 minutes and you click the button to call you, you already sort of know where we're going with this. Right. Like it's not like I don't know what I'm getting when I call. It's like you just watched me explain this thing for 30 minutes. We're probably going to talk about that thing. Right. And see if it fits for you. Because it doesn't fit for you. Right. Like I was saying, we, we deal with a few percentage of Canadians and we're not looking for thousands of clients a year.
- [23:54]
Kayvon K
Like we want the right clients. Again the key here, if anyone's listening, paying attention, in order to be effective, you got to be selective. Meaning 100. If you guys are going to, you know, grow a business where you can help your clients really achieve these goals, it's got to be the right, that's why I was asking, it's got to be the right, the clientele. And the reason why I was asking if you sub niche this stuff is because I, I, the companies that I've worked with in the past, like they were like for instance, they were going after dentists.
- [24:19]
Laurent Munay
Right.
- [24:19]
Kayvon K
Like that was like that, like that was their prime. Like, you know what I mean? Because we know those.
- [24:23]
Laurent Munay
Yeah, we know everything about dentists.
- [24:24]
Kayvon K
They're very wealthy. Right. So they're, they're the hidden wealth.
- [24:28]
Laurent Munay
Yeah.
- [24:28]
Kayvon K
And, and that, that was kind of their M.O. so I didn't know if maybe he's like doctors, you're saying the developers or you know what I mean? Or like whatever my cons, like high paid consultants, the engineer consultant. But it seems like it's a little bit of a mix of everything.
- [24:43]
Laurent Munay
Yeah, it's more about like are you a good person that we want to work with?
- [24:47]
Kayvon K
Yeah. Do you want to, do you want to work with. Yeah. Work with you. So now I'm on the call, we're going through some of this stuff. You're asking them questions. You're damn right. They probably haven't asked themselves and they sure as probably haven't asked themselves in a long time. You're going pretty deep, which is great. This is all about that, making it about them and then, and then from, so you're talking about going into the like the money mindset, kind of like where their belief system goes and then from there, what happens? Like, what's the sales process?
- [25:15]
Laurent Munay
Sorry. And that. So that discovery is four parts. So that's, that's the third. The fourth bit is your team. So we look at finances as a team sport.
- [25:24]
Kayvon K
Okay.
- [25:25]
Laurent Munay
We play one position. Right. So if this was hockey, you know, we probably be one of the defensemen. But I also need to know who's center, who's goalie, who's coach, who's gm, who's the owner, who's the. Like, I need to know all the other players. Who's your accountant, who's your lawyer, who's your realtor, who's your mortgage broker? Who's your other investment advisor? Who else do you get financial advice from? What videos are you watching and, like, what books are you reading? So, like.
- [25:50]
Kayvon K
Yeah. Are you, like, are you following a guy like Dave Ramsey or you following, you know, like, that kind of philosophy? Are you following, you know, someone.
- [25:56]
Laurent Munay
Kiyosaki or something? Yeah. So Dave Ramsey would tell you, don't work with us, and that we are a total con artist and a scam, because he really doesn't like permanent life insurance, and he's got multiple videos about how you should never do this. So anyways, if somebody wants to.
- [26:09]
Kayvon K
Well, this is interesting here. I would love to.
- [26:12]
Laurent Munay
Let's, let's get.
- [26:12]
Kayvon K
Let's talk about that for a second. Give me the reason why. The two, two reasons. Because obviously you know this. Just quickly, two, three reasons why Dave Ramsey is not good. And then how you, how you actually defend that.
- [26:26]
Laurent Munay
So Dave Ramsey is great if you're in, like, a not good situation and you want to get to a good. So if you're, like, negative and you want to get to zero. Yeah, he's good. Right. Don't have bad debts. Don't spend everything on your credit card.
- [26:41]
Kayvon K
Yeah.
- [26:41]
Laurent Munay
Start saving. Start investing. Do basic stuff.
- [26:45]
Kayvon K
Don't buy dumb.
- [26:45]
Laurent Munay
Yeah. You get your basics down. Like, our clients are past that. They're not looking. They're not looking to save their first hundred dollars.
- [26:53]
Kayvon K
They're. They're not in survival mode. They're in financial mode. Like I said, five years of business, they got excess. They, they, they have. Their problem is, what am I going to do with my smart money? Yeah.
- [27:03]
Laurent Munay
Yeah. And, and he's sort of correct that like a lot of insurance people that try to say they do what we do shouldn't be doing it. Right. Like you were saying you had a large insurance policy that you were putting A lot of cash into. And you were trying to think, is this a scam?
- [27:21]
Kayvon K
So our clients, you know it. I got screwed on it. Right. And lost 70 grand. So I, I have a bad taste.
- [27:28]
Laurent Munay
To it, but yeah, that's.
- [27:29]
Kayvon K
I also know that this shouldn't have happened. Right. And the person who signed me up should have known that the business was volatile and it wasn't ready for something like that long. This was like one of those 60 year things, right?
- [27:41]
Laurent Munay
100. A lot of, actually a lot of our clients come to us today and through our discovery process, we'll let like, you're not ready. You should put in some basic insurance to like make sure that if something happens to you, your whole life isn't fucked or your family's life is messed up.
- [28:02]
Kayvon K
Yeah.
- [28:02]
Laurent Munay
But then two, three years later and like some of our best clients will be like, hey Laurent, that thing you told me about four years ago, I'm ready. Those are like great clients.
- [28:12]
Kayvon K
Yeah, yeah. People are all different on different. Yeah, yeah.
- [28:15]
Laurent Munay
We're actually dealing with one right now. This person had already set up a similar sounding thing to what I'm saying. And we're going through their stuff right now and they, they've been sold. Like the advisor that set this thing up has oversold the shit out of it, has put this person into like a really bad situation that's way out of control that we would never recommend. And, and so for an example, they're looking, they're putting in over a million dollars a year into this thing. And after we break down through our discovery process and like hours of on the phone and email and going through all their financial statements and their taxes and their banking history, like we have all of their information.
- [29:04]
Kayvon K
Yeah.
- [29:05]
Laurent Munay
Their budget should be somewhere around 3, 400 grand a year, but they're budgeted at a million, which now this is becoming a stress. And the whole point of insurance is to take stress off, not to add stress. Like it's, we're supposed to be giving you peace of mind and now this person's worried about making their next premium payment and if they don't, the policy could lapse and they could lose like hundreds of thousands of dollars.
- [29:30]
Kayvon K
Yeah.
- [29:31]
Laurent Munay
And we're in here situation like we're trying. We're trying. And again there's like, because we didn't set it up, we can't.
- [29:39]
Kayvon K
Yeah, I get it.
- [29:41]
Laurent Munay
Like the other guys.
- [29:42]
Kayvon K
Yeah.
- [29:43]
Laurent Munay
But then the other guy is not being helpful because he's already.
- [29:47]
Kayvon K
Well, because he's already gone paid.
- [29:48]
Laurent Munay
Right.
- [29:48]
Kayvon K
He already got it I got, I got it.
- [29:50]
Laurent Munay
And he's like, who are these clowns with my. And we're like, dude, you should have never. Like, this is crazy. This shouldn't have been happened. We would have never done this. Like, we're way more conservative and we want. Yeah, right. Like you're saying this is something for 30, 40, 50 years. So again, we want to take the time upfront. Does it take an extra week? Does it take an extra month? Yeah, because I don't want in 10 years, you phone me up and you're mad. I want 10 years. You phone me up and you're like, hey, my buddy just canceled, but I need a fourth at golf. Can you be there tomorrow?
- [30:24]
Kayvon K
Yeah, that's what I want.
- [30:25]
Laurent Munay
The phone call.
- [30:25]
Kayvon K
I don't want.
- [30:26]
Laurent Munay
You're pissed off me. I want the, like, let's go out for. There's a new wine drop at the PC.
- [30:31]
Kayvon K
I always say this, you know, you've done well with your clients when their kids invite you to their weddings and, and, and graduations.
- [30:37]
Laurent Munay
Right?
- [30:37]
Kayvon K
Like, that's like, that's like when I, when I consult with people, my goal is always. That is, that's a cool thing, you know, can we, can we get to a point where your children are inviting me to their, you know, their parties? Right. Because they love it so much.
- [30:49]
Laurent Munay
A lot of our clients, kids are on the young side. So that could, that hasn't happened, but it could. Yeah, in some years.
- [30:55]
Kayvon K
But it's through time. Right. So I guess. And I would. It's funny you say that. I would. I already assume that the people you're talking to are there. I'm going to say on average, you know, mid age, like, you know, probably like late 30s, 40s. They're just having families, businesses going. Well, they're now at the point where the kids are 2, 3, maybe 4 or 5 and they're going, hey, what do I got to do here to protect their future.
- [31:20]
Laurent Munay
Yeah.
- [31:20]
Kayvon K
And how. What do I got to do here? Because I'm done in 10 years. I want to retire in 10 years. Right. I've worked hard, so I get that. So what happens after that call? You are pretty deep there. It sounds like you can go up to three hours. That's a lot. Do they know that they're going to be doing that on the call? Like, do you have any pre work? Like not pre work, but even like.
- [31:37]
Laurent Munay
Yeah, they know it's going to be 45 emails.
- [31:39]
Kayvon K
Hey, just so you know, we're going to be. Have these things ready at least yeah.
- [31:42]
Laurent Munay
It'S going to be about 45 to 60 minutes. The first call that's only sometimes happens that it was like excessive and actually when I used to be the advisor it would go over all the time because like I talk too much. Yeah. So I have to check myself to stop. But, but no, we've got it pretty dialed and we do respect their time so we try to be like listen, like we're going to get this done in 60 minutes and we're going to let you go because we don't want you here for two hours because like what you, yeah, you've probably got other things to do. So from there on that call before we end, we let them know what's going to happen next. So what's going to happen next? We're going to take this information that you gave us. We're going to turn it into a proposal. We're going to crunch some numbers, we're going to make different plans. We're going to do, you know, plan A, B, C budget, abc and we're going to make recommendations and we're going to make firm recommendations. It's not going to be like, well here's like some things that you might be able to do. Why don't you choose the da da, da? No, it's like we think you should do this, this or this. And here's like the, the reason why A is better than B and B is different than A. And here's some reasons so you can still choose but like we're, we're being pretty firm and then on there we tell them this is what's going to happen. Give us about a week to do the work and let's look at your phone right now. We'll book the next meeting now. Yeah, for about a week from now. So we, we book the next meeting before we hang up and. Yeah. And then we meet again in like a week, 10 days. Sometimes it's different. Like oh hey, I'm leaving and I'm going to Greece for three weeks so I'll call you when I get back.
- [33:14]
Kayvon K
Sure, yeah, absolutely. Yeah. So you present but then you present your findings or your solutions on the second call.
- [33:19]
Laurent Munay
Yes. So we present that again and we don't send this in advance. We go, we go through it with them and so we keep it to one maybe two page proposal. So we're not sending anybody like a 40 page thing that they're not going to read. It's one or two page. The proposal is pretty simple. The first bit is, is, is just Documenting what we talked about last time.
- [33:44]
Kayvon K
Yeah.
- [33:45]
Laurent Munay
And just, you know, and we even tell them upfront, like, you know, as we go through this, tell us if we got anything wrong, if your name is spelled wrong, anything, bring it up. And we have. And we'll screen share so they can see the full thing. And so we just go, this is what we talked about last time. Just to say, okay, like, are we on the same page? Is this a good summary of what we talked about? Is it accurate? Did we understand what you told us? And then we say, okay, if yes, then here are some recommendations based on that. And then we'll go through the recommendations and we'll say, okay, we said you should get this, this, this. And then each one of those things we can open up. Here's the quotes, here's how much, here's how it works. Here's the details of, you know, why this one, not that one. Here's why we looked at. And we're independent, so we work with all major insurance companies in Canada, all major investment firms in Canada. So we'll say, like, here's why we looked at this company and not that company. We actually did look at all of them. But why we're presenting you this one and not that. For us, it doesn't make a difference if you go with A or B, because, you know, if you pick A this life company or that life company, like, we get paid the same. So I don't care if you pick this one or that one. And again, we'll use our expertise to say, we think you should go with this one because of your health, this company will be better for you from an underwriting perspective or because of the size of your account, this is a better company for you. Your account is better here or there. Or because you want to do this later, we'll set it up like this now so that you have the flexibility to change it later. And so this is like where we have intimate knowledge of all the different offerings from all the different insurance companies. Where we can say, okay, this is why we're picking this insurance company and not that one.
- [35:24]
Kayvon K
Yeah, yeah.
- [35:26]
Laurent Munay
Wow.
- [35:26]
Kayvon K
Talk. Like I was just saying, the less it was going through my head, the less you talk, the more you sell. Yeah, but I love it. And then. And then at that, it's basically, do you want to move forward or.
- [35:38]
Laurent Munay
Yeah, yeah. And then we tell them that. So we. So then after that meeting, we will send you all of this. So we actually say. We say it as part of the script that, you know, you don't need to take any notes in here. We're going to send you all of this after this as soon as we hang up again with a summary email and all the attachments. So we'll send you all the quotes, all the pricing, all the stuff. And we tell them, look, take this, go through it. If you want to see different numbers, if you want to see more of this or less of that, let us know. Email, phone, find. Again, we set up the next time for the next one and we let them know, you know, the next step is that we're going to move forward on one of these things. Unless somebody's got like a really complex situation. Like we do have, you know, we've got one client that, you know, he's got like three companies in Canada and 24 companies in the U.S. yeah. And so that, that wasn't a two meeting thing.
- [36:30]
Kayvon K
Like no, that's. It takes it depending on.
- [36:32]
Laurent Munay
Yeah, he had like a lot of stuff to organize and again there we added a tremendous amount of value to his whole situation before we even did any anything. Just because as we were going through this and we're going through his team, we're like, your accountant is wrong. Like this is not the right accountant for you. Like your accountant got you from there to here. But yeah, you're in like a totally different situation.
- [36:53]
Kayvon K
Like what gets you. I always tell people, like, well, I had it. I in my lifetime I had four accountants, right. And you know, when I started, you know, as a junior sales, you know, sole proprietor to now my corporation, you know, what gets you from A to B does not get you to B to C and vice versa.
- [37:08]
Laurent Munay
Their accountant didn't know. Yeah, we knew more information about his.
- [37:11]
Kayvon K
Incident than his account and it was.
- [37:14]
Laurent Munay
Like, this is crazy.
- [37:15]
Kayvon K
So what's like how many people usually like if you, if you have 10 calls, 10 of these kind of proposals, how, how many of them are actually moving forward?
- [37:23]
Laurent Munay
We have these stats. So if from somebody filling out a form on our website to somebody becoming a client. So if we have a hundred people fill out the form, we'll do first meeting with about 65 of them. We'll do the next meeting with about, I think it's like 38 or something like that. And then we'll actually like 13 of them will become clients. So we've got like a, like a 13% close.
- [37:51]
Kayvon K
But again, which is, which is, which is, but that's cold. Like don't like that means because those people filling out does not necessarily mean they're qualified.
- [37:59]
Laurent Munay
Right.
- [38:00]
Kayvon K
So that's a great, that's, that's pretty good numbers. Like, that's like, you know, that's great numbers. The only thing that I heard, I was waiting to see is, and you might do this because I know you said you have all these thought processes, but I would just, as we come to an end, if I can leave with one thing is in the comment, in that first conversation, when we're going deep and we're talking about what life looks like. Right. And then before we go into even the money mindset, I would put in what I call as the cost of inaction consequence question.
- [38:30]
Laurent Munay
Yeah, yeah. And how, like, just, just out of.
- [38:33]
Kayvon K
Curiosity, what happens if nothing changes?
- [38:38]
Laurent Munay
Right. Okay.
- [38:40]
Kayvon K
What happens if you don't put in a plan to protect your kids? Because from what I heard is like, this is really about your kids. Isn't that? Okay, so what happens if they don't have a plan and, and there's not a plan for generational wealth? What happens then?
- [38:53]
Laurent Munay
Right. Right. Okay, cool. That's.
- [38:55]
Kayvon K
It's called, it's called the cost of inaction because people don't move forward unless the pain is greater. Right. People don't buy their way into something, they buy their way out of something.
- [39:05]
Laurent Munay
Right. Yeah.
- [39:06]
Kayvon K
So they're, right now, they're buying their way, too. What does that mean? Well, they're buying their way out of the fear, the unknown, the uncertainty of, like, where's my money going? Am I maximizing? These people are looking for maximization of their dollar. They're looking for what you says, generational wealth. They're looking to protect their dollar and they're looking for, let's get, you know, we don't want to say in the podcast, but they're looking for like, the shortcuts and the easiest way to keep their money.
- [39:30]
Laurent Munay
Yeah.
- [39:31]
Kayvon K
And there's, and, you know, and leverage against, you know, the opm, other people's money.
- [39:35]
Laurent Munay
Yeah.
- [39:36]
Kayvon K
So their pain is every night there's 2am problem, but I'm going to be assuming from what I'm hearing is like, where is my money safe? Is it growing the way I need to grow? Am I, am I positioning all my assets, my wealth, my, my, my insurance, all that in the best possible way so I can sleep and know. And I'm maximizing, you know, I'm at maximization or optimization. So.
- [39:55]
Laurent Munay
Yeah, that's helpful.
- [39:56]
Kayvon K
So what happens, what, what happens if that doesn't happen?
- [40:00]
Laurent Munay
Right.
- [40:00]
Kayvon K
Like, like, like, let's say if five years from now you haven't done anything, like, are you okay with that.
- [40:07]
Laurent Munay
Right. Interesting. Yeah, I like it. We could add that to ours.
- [40:11]
Kayvon K
Oh, I definitely would. I would definitely suggest, you know, you can look it up. It's called consequence Questions or a Cost of inaction. So what's the cost of inaction? Because I usually do that in between. You got the pain.
- [40:24]
Laurent Munay
Yeah.
- [40:25]
Kayvon K
Then you have your okay. Now you have the dreamland, like, which I call the promised land. Like when this. When you ask, what is it you really want? What's the best case scenario? Oh, I have $20 million, you know, whatever, 30, $40 million in the bank account. Kids are generational, taken care of, never have to worry, bills are being paid for. Blah, blah, blah, blah. Okay, great. You're dreaming. I'm dreaming now. All the endorphins are like, I'm tight. You can. The mind, right. Does not know if it's real. When you're thinking about something, it does not know. The subconscious mind does not know if it's actually really happening or if you're thinking about it. Those two, the same neurons get fired. Right. So when you're thinking about. When I'm thinking about, you know, oh, my God, my kids don't have to worry. They have the money for if they want to go to school. We have the houses paid off. Like, we have generational wealth. Like that is real. Endorphins are being released off that. And then all of a sudden you're going, okay, but what happens if it doesn't happen?
- [41:17]
Laurent Munay
Happen, Right. Okay. Oh, I like that.
- [41:20]
Kayvon K
Oh, I don't. It can't. What do you mean? It can't not happen? Right. Well, before. And then. I love how you can transition now into okay. Well, because now you can actually transition into okay. So to prevent it from not happening or to make sure that we're making the right decisions, one of the biggest blocks, believe it or not, that most people make a mistake at. It isn't actually the process. It isn't the system. It isn't like what insurance policy they're taking on. It's actually them, themselves.
- [41:45]
Laurent Munay
Yeah.
- [41:45]
Kayvon K
The fear that they have. Most people fear generational wealth. They fear either the fear of success or fear loss. And they make decisions from that place. Let's eliminate those decisions. Where is your money? You know, that's when you go into the money, you know, like, where does your money mindset come from? What is it you're looking for? How. When you think about money, is it. Like you said, is it red is a black. Do you believe in investment? You believe in real estate? Do you believe in insurance policies, whatever all that might be. Now there's, there's, there you're going more deeper into, into that. The psychology of it.
- [42:15]
Laurent Munay
Cool. I like it. Yeah, yeah. We don't have any of that sort of like consequence of inaction or cost of inaction.
- [42:20]
Kayvon K
I would, I would test it, test it and see the reaction out of it.
- [42:24]
Laurent Munay
And I'll have to train up the other guys on it too. Well, yeah, like how do we word it in such.
- [42:29]
Kayvon K
Well, we could talk potential. We could talk about that. That's why I wanted to see your, your sales process. Listen, we're coming to an end here. I appreciate it. Appreciate everything. I love it. If there is a Canadian listening here and they are a entrepreneur, incorporated Canadian who, who has profit in their business and is looking to protect their money, invest their money, optimize their money, leverage it, create generational wealth. How would they get a hold of you?
- [42:57]
Laurent Munay
Super easy. Just like what we've talked about this whole time. So first step, go to our website safepacific.com on there. There's a lot of buttons you can click that'll send you to fill out a form. Actually we can now book on our calendar through the website. We've literally just launched a new website Yesterday and yeah, safepacific.com if you want to see more about what we do, it's YouTube.com safepacific. There's over 400 videos on there. There's hours and hours and yeah, if you help us out liking and subscribing anything on there too. We're over 3200 subscribers now on YouTube. So we're actually starting to the algorithm, starting to like us starting work and yeah, our goals are to, to really grow that channel and again to give this information out there to people who like normally wouldn't even know that you could do this. Right. Like this type of in information used to be heavily gatekeeped by. For the wealth by very. Yeah, yeah. You had to pay like super expensive advisers and a. They had to know this and then they had to share this with you and you had to be in a position where you would even know who this guy was. But then now through you know, YouTube and the Internet, I can put this out there for free for you and, and you know, I'm licensed. All of this is compliant. Like I'm not. There's no bullshit on our, on our, on our channel. We're not selling anybody any stories. We're not telling you that you're going to, you know, make $10,000 a day on a crypto.
- [44:23]
Kayvon K
Yeah, yeah, yeah, yeah, yeah.
- [44:24]
Laurent Munay
No, I get, you know, you're going to arbitrage your Airbnbs and all of a sudden be a millionaire. No work.
- [44:30]
Kayvon K
Yeah, the quick win.
- [44:31]
Laurent Munay
You're like that, that none of that works.
- [44:33]
Kayvon K
Again, Laurent, I just want to say again, loved having you, appreciate you again. Just everybody else, just go to safepacific.com that's safepacific.com and from there you can get to the YouTube channel and you can book a call with these guys. If you want to protect your future, if you want to protect your children, if you want to create generational wealth, you know where to go. Laurent, thank you so much for having me. This is another episode of Pitch Me.
- [44:57]
Laurent Munay
Awesome. Thanks.
- [44:59]
Kayvon K
And you've just listened to Pitch Me with Kayvon K, the podcast where sales are redefined, objections are destroyed, and high ticket closers are born. Want to take your pitch to the next level? Subscribe now, leave a review and join the Pitch Me community. And if you're brave enough to pitch live on this show, head over to ww.pitchmepodcast.com and apply today. Until next time, keep pitching, keep closing, and keep connecting.