Name: Jay Grubb
Company: Key Financial Partners
Location: Buford, Ga.
Production: $6 million in 2008 (already $5M in 2009)
Number of Clients: 150 (personal clients); 500-600 (joint clients)
Business Model: “Referrals. I get my business from joint work with other advisors and trusted professionals (CPAs, lawyers, etc). Being brought in as a specialist by other professionals is the most efficient way of getting and closing business.”
Referral success: “Over 40 percent of our business is brought in by referral.” On industry trends and changes: “I have a large network of advisors that I am friends with. We talk about what’s going on in our businesses, what techniques are working and not working. I read five or six industry publications to keep up with trends and changes, too.”
Why the senior market? “When I got into the business, my ‘warm market’ was my grandfather’s friends and business associates, who were all seniors. Because they were similar to my grandfather–who battled tax and legal issues–in their personal situations, I wanted to be sure the same hardships my family experienced didn’t happen to them.”
On your job and the industry: “The thing I like least is people who get into this business to make a quick sale and don’t do the client justice. The thing I like best is making a difference. When you help a client, you not only help them, but the impact of your work will be felt for generations to come.”
Personal: Married, two kids, very active in community and philanthropic work
The deal involves $1.7 billion in fixed annuity account balances.
Low Medicaid reimbursement rates for nursing homes are hurting the quality of care, by keeping operators from offering high enough wages to attract…
Multi-year guaranteed annuity sales ended up somewhere in another premium dimension.
Sponsored by Lincoln Financial Group
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