Get the most out of one meeting by asking your clients the right questions.
You have the prospective client in your office or on the phone, now what do you do? Start by asking the right, open-ended questions to create a meaningful conversation. Get your clients to talk about themselves in order to gather as much information as you can, in as little time as possible.
Target the basics: Who, What, Where, Why, and How. Use the questions below as a financial advisor prospecting tool to hold a productive client exchange. The answers to these questions will assist you in providing the best financial recommendations.
No Comments 14 Aug 2017
There is no denying that video is quickly moving up the ranks as one of the most popular forms of marketing. There is no shortage of great client facing videos right at your finger tips! You should be utilizing these videos with your clients to remind them of the important role that life insurance can play in their lives. We'll be sharing a few great client facing videos every month that you can share as well on social media, in email or on your own blog!
Share this video with your clients to remind them of the crucial role that life insurance can play in their lives.Read More
You've probably received considerable advice on how to find the right client and which clients are the best prospects. Have you heard anyone talk about when it's OK to walk away from a client? For most financial advisors, this is something they hope to avoid. However, every now and then you'll come across a client that may not be a great fit. Here are some tips on how you can spot them and when to walk away.
BREAKING NEWS 8/9/17: The Department of Labor announced today that they are seeking to delay the fiduciary rule until July 2019. "In a brief filed in a Minnesota lawsuit Wednesday, the DOL indicated it had submitted to the Office of Management and Budget a proposal to delay the rule from Jan. 1, 2018, until July 1, 2019. The OMB must review and approve the proposal before it can go into effect." - InvestmentNewsRead More
Do the major changes happening in and around the financial services industry have you worried?
New compliance standards, technology and consumer behavior is changing the way business gets done today. Are you prepared to adapt your business model to meet the new standard? In this blog, we break down the top 3 changes facing the financial services industry and what you can do to have your business survive.
3 Major Changes Headed Our Way:
- New Compliance Standards
- Company Culture
Welcome to the first installment of Brokers’ Service Marketing Group's “Letter to a Broker” series. We asked our sales team to craft insightful blogs based on topics they cover every day. Our first letter looks at helpful life insurance sales tips like "ancient" health history, field underwriting, the importance of existing policy information and more! Without further ado, let’s talk.Read More
Are your current clients' in force policies performing as intended? Do your clients have the right amount of coverage or are there gaps?
There are strategies you can start using today to sell more life insurance, annuities and long term care to existing clients. Connect with your clients on their in force policies to determine if they are still meeting the intended goal.
Is your next sale hiding in your existing book of business? Use these 6 life insurance prospecting steps to untap opportunities.
- Identify who your clients are and segment them into groups.
- Research industry products and your clients' current financial positions.
- Match and target opportunities to clients.
- Unlock the gold mine through relationship building.
Often a policy review of your client’s existing life insurance and annuity contracts will conclude that a more cost efficient contract with better guarantees and rates of return makes sense. This will cause a producer to seek a potential transfer of the existing cash values to a new contract via a tax free Section 1035 exchange.Read More
Our guest blog is written by Jeff Backofen, Regional Chief Underwriter for Principal Financial Group. He held underwriting leadership positions at Mass Mutual and Phoenix Life prior to joining Principal in June 2013. Jeff has presented at several industry and association conferences, including the Association of Home Office Underwriters (AHOU) and Bramco Underwriting Conference. Jeff shares tactics that you can use to generate a successful underwriting risk management strategy with business owned life insurance.
Okay, you just sold a large business insurance life case. Next step: underwriting.
If you just yelled “help!” — you aren’t alone. Many financial professionals fear the life underwriting process, but it doesn’t need to be daunting.
One of my favorite sayings is “you’ve sold the client, now sell the underwriter.” And you can often use the same tactics you used to convince the client of the need for life insurance to explain the need for coverage to the underwriter.Read More
It's time to rethink your approach when talking to your clients about their retirement.
Simply asking your clients if they have a sufficient amount saved for retirement is not enough. As their financial advisor, you need to dig deeper and ask the tough questions. You need to know if your clients are financially prepared for retirement. Tell your clients to ask themselves, “do I have enough money to support myself for the rest of my life?”.
Approach the conversation to better help your clients realize what their expectations are for their retirement, what their spending patterns will look like and how market longevity and spending will affect their savings. Close to 60% of retirees don't budget for leisure activities when planning for retirement! Asking the right questions not only starts the conversation, but engages a productive exchange that could greatly impact the retirement planning process and your clients' future.