The Internet is creating a new sales environment that demands you, as a financial professional, have an online presence. In the past, selling financial and insurance products relied on making a great first impression with potential clients and building relationships. You focused on meeting new clients through referrals and cultivating a strong reputation within your community and industry.
Though the U.S. is moving out of the recession and welcoming a stronger economy, many insurance professionals like yourself are still figuring out how to provide superior services while on tight budgets. The insurance industry is in the midst of an “out with the old, in with the new” movement, and part of reigning in a new era is increasing the efficiency of your internal processes.
The majority of family businesses in the U.S. do not have a proper business succession plan in place for senior roles, according to a recent report from PricewaterhouseCoopers US Family Business Survey. In fact, 73 percent of family businesses found themselves without a documented succession plan – a trend financial professionals must help their clients combat.
It’s no secret that expanding your offerings is a great way to grow your business. This is the primary reason many financial professionals focus on a multidiscipline approach to their practices. However, expansion doesn’t just mean going from concentrating solely on life insurance to providing estate planning and wealth transfer services, as well. It also applies to the types of clients you court.
Each new year brings with it the promise of changes for financial professionals, and 2015 is no different. The question is: How will you react to these changes and ensure you remain on the forefront of client services?
Whether they’re a brand new client or someone you’ve been working with for years, there’s a good chance one of your customers has gaps in their insurance coverage. While this can be a risky state of affairs for them, it also represents an ideal opportunity for you to sit down with your client and help them understand all the options at their disposal to ensure comprehensive coverage.