Friday, July 10, 2015

Getting Started in Financial Services

You can get an insurance license in 3 days.  3 days!  Then what?  That's when the real learning begins.

In the beginning we would go online and consume as much information as we could.  Much of it was consumer based.  What do consumers like about this product of insurance?  Why does it work?  Why should they work with me?  We dug in and figured out way more than a typical insurance agent would.

We ended being licensed in about 45 states.  On a good day we might do 5 - 10 insurance cases.  We didn't know that was special.  The problem, if you want to call it that, was we weren't meeting our clients face to face.  It was all over the phone,  This was before e-applications so we took our applications down on paper.  We would then fax or snail mail them to the clients.  We needed original signatures on most everything then.  We didn't know it was a challenge.  We just embraced and plowed forward.

Our clients found us usually after speaking with their local insurance agent and were skeptical of what they heard.  Their skepticism was founded.  They sought better advice and they found it in us.

Enjoy our video.....

Saturday, July 4, 2015

Are You Working With The Right Financial Professional?

There are numerous articles you can access pertaining to finding the right financial professional.  "What are the top ten questions you should ask?"  Without regurgitating all of that we thought about if we were in that situation what we would we want to know.  What if we were the client?  What would we ask?  What would we want from our financial professional?

We would ask to speak to some of the clients they have worked with recently and one they have worked with over time.  Hopefully, it is all positive or they have some specific information to give you.  If it is easy for that referral to explain why they like working with this person that you are vetting then you may have the right person.

Lets say you have two professionals you are meeting.  One is out just for the commission dollars and the other one is well-intentioned.  The first person comes to the meeting and he doesn't ask too many questions and within a few minutes is already pitching a product.  Just one product.  It solves everything.  Death benefit.  Retirement.  Cash Value.  Its the greatest new thing.  You should hurry up and buy it.  You probably want to steer clear of that one.

The well-intentioned professional may fashion themselves as a teacher more than an advisor.  They may show you six or eight different things.  That is too much to process.  Information overload.  People have difficulty with choice.  If we are given too many choices it can result in anxiety.  The client may leave not doing anything at all.

As financial professionals we need to listen to our clients and then narrow the focus down to two or three things.  They should fill that need and be appropriate for the situation.  We are doings clients a disservice by either immediately jumping to one product without properly assessing the situation or bombarding the clients with too many choices and overwhelming them and their thought process.