Q. I want to pursue financial planners as referral sources. What key words should I be using when I talk to them, and what information would it be helpful for me to provide to show them that I am a credible resource for their referrals?
A. It’s exciting that LTC insurance, for so long a niche product, is now emerging as an essential part of financial planning. For advice on how to successfully recruit financial planners as referral sources, I turned to Randy Bradley, a management consultant to the financial services industry. He is currently working with Penn Treaty to develop a financial channel program.
“To work well together, it’s important that financial advisors and agents develop a common platform by learning each other’s language and key information,” Randy explained. “Knowing the so-called ‘buzzwords’ and why they’re important is a great starting place. These are more than little phrases — they are the shared assumptions in the financial advisors’ and LTC agents’ lives.”