BSMG Blog: Protecting the Future of Families and Businesses

[Video Blog] Protect Your Clients' Retirement with QLACs

60% of Baby Boomers are More Afraid of Outliving Their Retirement Savings Than Their Death

How are you answering your clients' No. 1 fear of running out of money in retirement? BSMG's VP, Retirement Wealth Strategies, Rob Cantin, discusses how Qualifying Longevity Annuity Contracts (QLACs) can protect your clients' retirement income and increase your annuity sales. 

Read More

Tactics & Talking Points to Introduce a Policy Review



It is a common misconception by consumers that once a life insurance policy is purchased they can "set it and forget it."

Has your life changed in the last five years, how about the last two years? I don't need to tell you how quickly life can change. Your client's lives are also continually evolving, so shouldn't their life insurance protection be reviewed to match? Use these life insurance sales tips to keep in touch with your clients and ensure their current policy still matches their needs.

Life is busy, your clients may (or may not) be aware that they need to update their policy coverage. They also may not have the time to research new products or even to pick up the phone to call you for help. Be proactive and check in with your clients. Do they have a new career, business, child or home? The simple question of "when was the last time someone reviewed your policy?" may be all you need to open the door.

Read More

How Successful Insurance Agents Approach Small Business Owners

Check out these tips on approaching small business owners for insurance agents & advisors.

Small business owners respond well to an approach that includes educational information and planning for their future success. They feel their business is unique. If you can teach them something new, they will be more open to meeting with and listening to you.

“Tell me what you’ve done for other small business owners and why it is right for me.”

Read More

Calculators to Help Identify Client Needs

When you sit down with your clients are you answering key financial questions relating to their savings, taxes, insurance, education, business or retirement investments?

Your client comes to you for your expertise and depends on you to provide them with a strong plan for their future. Don't waste time by using a hand held calculator to compute complex equations or fumbling with excel, or worse a paper form. Get quick, clear cut information with automated financial calculators so you can properly and easily answer questions like these:

  • How their 401(k) or Roth IRA will affect their retirement?
  • How the inflation rate will impact their retirement income needs?
  • How taxable, tax-deferred and tax-free investments may compare?
  • How long their money will last?
  • How much they'll earn in their lifetime?
  • How much they should save for college funds?
Read More

Increasing Your Client Retention

Over the last decade, we have seen growth in financial services and life insurance retail options for clients, most notably the explosion of the robo-advisors. More options are available to consumers, meaning buyers can be more particular with whom they do business with. Some businesses are so focused on obtaining new clients, they forget about their current clientele. There is something to be said for providing that extra attention to your loyal clients.

Statistics show that customers care more about service, quality and personalization, than cost. Wouldn't you rather do business with someone who caters to you individually and gives you customized service? Your clients certainly do. So, while other advisors and firms may fall short by focusing primarily on the pursuit for new clients, take the long game by setting up a life insurance sales strategy that includes paying more attention to your current customers. Recognize your current roster and make each client feel like the MVP. This will build customer retention, brand loyalty and make your business stronger.

Read More

Use This Strategy to Close More Life Insurance Sales

6 Steps To Building A Successful Life Insurance Sales Strategy Using the "Balanced Approach"

Most of your clients face a dilemma as they find their life insurance needs shifting. They can either: 

  • Insure their highest level of coverage needed, even though it could be years from now, or
  • Insure their lowest level, all but guaranteeing they’ll be under-insured in the future.

Whether they are clients who are considering buying insurance for the first time or ones who realize that their current policy isn’t enough, finding the right balance is an important concept. 

Read More

Are you wasting your time with the wrong prospects?

Top 5 Financial Advisor Marketing Tips - Are you wasting your time with the wrong prospects?

When it comes to marketing, the basic principles haven't changed for financial advisors. However, the technology we use to execute them has. We've compiled a list of the top five financial advisor marketing tips.

Read More

Tactics Successful Financial Advisors Use to Motivate the Sale

Think back to a time when you purchased a product or service, and left with a sense of fulfillment from that purchase. Perhaps you left with a feeling of comradery with the seller. The transaction may not have felt like a typical sale. This is the feeling that a good salesperson creates. They engage with the client to form a collaborative environment, a trustworthy rapport and positions the product or service to fit your needs. We broke down the attributes that come into play when financial advisors prospect buyer motivations and how they become experts in relationship building. 

Set the groundwork. To understand your client's motivations and triggers you must ask the right questions and listen to their responses. This back and forth will provide you with insight into your client's buying personality and will help dictate your sales approach. Buyers aren't all created equally. They require different approaches, Dan Seidman, sales trainer and author of The Ultimate Guide to Sales Training and The Secret Language of Influence, speaks about two types of buyer personalities: The Pain and The Gain Motivators in InsuranceNewsNet Magazine. Knowing which personality aligns with your client will help build a stronger relationship and save you time in closing the sale. What is a pain-based buyer versus a gain-based buyer?

Read More

Target Your Clients Needs with the Right Permanent Insurance

Clients come in all different forms with different goals and priorities in mind. So your approach with your clients should not be one size fits all. As a financial advisor, you may need to be a detective to learn about your clients true behavioral habits. Ask yourself if they are conservative, balanced or aggressive investors? Ask your clients the questions below to arm yourself with the information you need to set them up with the perfect permanent insurance policy.

Read More

5 Things Financial Advisors Should be Doing to Ensure a Successful 2017

2016 will soon be in our rear view mirror. Believe it or not, there are only 5 more Fridays until New Years Eve! As the weeks breeze by, we find ourselves gearing up for 2017 and there's no better way to guarantee success than preparation! Get a jump start on your New Years' resolutions and start planning now. We have compiled a list of 5 things you should be doing to set your practice up for success!

Read More