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BSMG Blog: Protecting the Future of Families and Businesses

HENRY's- High Earners Not Rich Yet

We know that you're used to hearing about millennials, since we've posted about them here quite a few times... but what about HENRY's (High Earners Not Rich Yet)? This may not be an acronym that you recognize, however we're sure you've got quite a few prospects that fall into this category. 

HENRY's make for great prospects however, they are often overlooked. These potential clients are looking for guidance so a financial advisor is a perfect match. 

So who are HENRY's? They are the high earners who are not rich yet and have household incomes between $100k-$249.9k and control about 40% of all consumer spending.

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9 Key Steps to Nurturing Life Insurance Leads

We're sure you know that you can't grow your business without growing your sales pipeline. Successful sales lead management begins with identifying prospects who have expressed an interest in your products or services. Life Insurance leads can come from a variety of prospecting efforts such as lists, social media, direct mail or email. Regardless of how you find these leads, it is important to always nurture them, a forgotten lead is unlikely to become a customer. Below are tips on how to handle and track each new lead as well as grow your lead base.

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8 Communication Tips to Attract Clients Who Are Business Owners

Here are 8 Communication Tips for Insurance Agents to Attract Clients Who Own a Business:

  • Use a local phone number instead of an 800 number.

  • The best time to approach owners is Tuesday, Wednesday or Thursday.

  • Send personalized email:
    • Personalized subject lines indicate that the content is relevant to the owner or business, and increases panelists’ likelihood to open an email.
    • Send the email from an individual, rather than a marketing inbox.

  • Send personalized direct mail or letters: Use results-driven language (by doing this, you will get that).
    • Hand-addressed card-sized letters are opened most often.

  • Simplify and speak in terms that are easy to understand.

  • Incorporate messaging about ROI, rather than price.

  • Be sure to follow-up:
    • Follow-up even if you are told no, but provide educational information when you do.
    • The owner may not buy now, but follow-ups may help you get the business later.
    • Advise with frequency tailored to their needs.
    • Use non-evasive regular touches by checking in every 60-90 days after initial point of contact.
    • Perform more of a branding call vs. a sales call: Example: “This is John Doe, from Mutual of Omaha, checking on how your business is doing and reminding you that I’m here if you need me. Would you like me to follow-up monthly, bimonthly or quarterly?”
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Top 5 Online Marketing Tips Every Financial Advisor Needs to Know

It's no secret that an online presence is key to growing your business. We've stressed the importance of websites and social platforms many times, and for good reason. In 2016 it is much more likely that someone will look you up online before simply walking into your office and asking for a meeting; if only it were that easy. We've compiled what we think are the most invaluable tips for advisors when it comes to online marketing. 

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Pitch a 'No-Hitter' for Team LTCi

Use this list of suggested talking points to hit a homerun for long-term care insurance against these top 4 client objections.

Client: Long-term care coverage is too expensive.
Agent: Life Insurance with a long-term care rider can be surprisingly affordable. While the exact cost will vary based on your age, sex and other factors, the cost of adding the rider to your policy can be offset by other advantages and benefits - choice, control and flexibility.

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4 Ways to Talk About Long-Term Care


Do you have clients with no plan for long-term care, or a reluctance to plan for the unexpected?

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Using Persona's to Get to Your Annuity Pot of Gold

Happy St. Patrick's Day! We thought we'd share a great tip to help you reach your own "pot of gold". Establishing and targeting personas is a key tool to grow your business and here's why.

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Life Insurance your Clients Don't have to Die to Use


Being able to retire when desired is a top concern across all families, ages and income brackets your clients may fall into. Americans can now expect to live up to 20-40 years in retirement, through all kinds of circumstances. For many of your clients, employer sponsored plans and IRAs will not be enough to provide them with sufficient retirement income

With these concerns on their minds, you may find yourself looking for new life insurance concepts and solutions to attract their business. One topic that we find appeals to clients and prospects is the idea that life insurance can be accessed while alive, and used as a safety-net for the unexpected, or annuitized for retirement income.

Watch and share this great video from AIG with clients and potential prospects who may be a good fit for life insurance with living benefits.

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Back to the Basics: Cross-Selling for Financial Advisors

The beginning of a new year is a great time to try something new with the hope of growing your practice as a financial advisor. There are millions of “how-to” articles floating around the web all boasting of great ideas and innovative ways to grow your prospect base or get more clients. Growing your client base is an admirable goal, however, it can sometimes take a significant investment of your time if you are not familiar with the tools and technology available to you. That’s why we suggest getting back to the basics with good old-fashioned cross-selling.

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Selling Life Insurance to a New Generation of Clients

Welcome to 2016! With a fresh new year ahead of us it's time to start gaining momentum and setting ourselves up for success. Everyone wants to start the year off on the right foot, and one of the ways an advisor can do that is by targeting a new generation of clients.

Today's workforce is currently a combination of Millennials, Generation X'ers and Baby Boomers. As the Boomers reach retirement age and the Millennials start flooding in, it may feel like your being pulled in far too many directions. Selling to Millennials isn't nearly as difficult as it seems. Just follow these great tips and you'll be well on your way to building a bigger book of business.

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