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Take your practice to the next level through mentoring

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Do you ever wish you were more successful in the financial services industry? Do you ever find yourself wondering why others have $10 to $20 million in production while you only have $5 million or less?

I can honestly relate to your situation. I opened my insurance/investment business in 1987 and spent my first 16 years with New York Life. Although I had outstanding sales skills and product knowledge, I felt like I was always one prospect short of unemployment. Through carefully planned and executed seminars, I have now reached annual sales in excess of $25 million.

Let me make it clear that there is no “magic bullet” to my success. My first seminars were held in a technical college with catering by Chick-Fil-A. As I’ve already mentioned, success in this business is not a matter of luck. Success comes through relationships, staff, focus and passion. I have surrounded myself with people who share my ethical beliefs and standards. I have a great staff in Dillon, S.C. who take care of matters in the office so that I can conduct my seminars and hold appointments with my prospects. I’ve also learned of the amazing sales opportunities that exist with my clients. Approximately two-thirds of my $28 million of production in 2006 came from my clients, either by adding to their existing accounts or by sending me their referrals.

If you want to learn the ways of top producers, consider taking part in a mentoring program. When I mentor advisors, they have the opportunity to spend time with me on the road, attend one of my seminars and sit in on my meetings with prospects and clients. I teach them how I am able to close 70 percent of my business during the first appointment. I then take them “behind the scenes” at my home office in Dillon, S.C., where they witness the marketing and client relations support that allows me to generate successful leads and have the time to follow up on them.

Good mentoring packages also typically include detailed procedures manuals as well as support calls from the mentor to make sure you stay on track. If you aspire to become a top producer, utilizing this type of individualized training is one of the best ways to lead you there.

By Richard Berry, President, Berry Financial Group

Richard Berry is the president and owner of Berry Financial Group in Dillon, S.C.
He was one of the five finalists for Senior Market Advisor’s 2007 Advisor of the Year award. For more information, visit or call 888-774-6181.