Last week I had lunch with some insurance agent friends.  

As was bound to happen we discussed in some detail the services they provide for their clients.  I was interested to note that all of them have a well-rounded business in terms of product mix.  None of them rely on any one product or service – they are all generalists and doing very well.  

When I asked how they identify themselves to potential clients they did not pigeon themselves into a title but rather explained how they work with clients being comfortable around money and what it can (and cannot) do for them (my words).  Not surprisingly none of them shy away from the insurance agent label nor from discussing the need for insurance with their clients.  Also, not surprisingly, they do not shy away from talking about investing with their clients.  They end result is a client who uses one advisor for both their insurance and investment work.  They indicated about 30% of their investment business came from insurance clients who wanted to simplify their lives by consolidating insurance and investments with one advisors.

If established insurance agents can generate roughly 30-50% of their revenue from helping their clients with investments why can’s investment advisors help their clients with insurance?

Advisor’s Choice does not expect you to become an insurance agent but we do encourage you to incorporate insurance planning into your practice.  We have the tools to help you integrate insurance and also make it easy for you implement.  Our LifeEase tool is the industry leader in streamlining the application process and has received rave reviews from insurance novices as well as established insurance professionals.   

 

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