Filed Under:Life Insurance, Sales Strategies

Why prospecting is changing (and how to keep up)

Better Prospecting

Being a one-trick pony doesn't work well with HNW clients.
Being a one-trick pony doesn't work well with HNW clients.

Since the times, they are a changing, so must practices evolve. I don’t like changing prospecting methods often or without good reason, but with changes in attitudes of prospecting and the huge changes in our economic picture, if methods don’t change, practices will fail.

A business model that has acquired traction and appears to be solid is the advisor model. Insurance agents who are dealing with assets of clients are finding that being a one-trick pony doesn’t work well with high-net-worth clients. Even clients with more modest portfolios wish to be treated as though they are much more valuable. The continuing declines in numbers of pension plans; the concerns about the value and stability of Social Security and a lack of investment experience in 401(k) savings opens a huge opportunity for advisors. An insurance license coupled with an investment advisor representative securities affiliation with a good Registered Investment Advisor is a wise and viable business model. Creating a relationship that begins with good investment advice opens insurance opportunities. Why not keep everything under one roof?

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Nichole Morford

Nichole Morford
Managing Editor

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