Understanding the client
- Slow down: Learn how to reach across generations and slow down for your senior clients.
- Know the family executives: Invest in the two family CEOs – chief executive officer and chief emotional officer – and their children, because as time passes the next generation will inherit the role of CEO.
- Family matters: Generate important family conversations, and help create a sense of peace for seniors, knowing their loved ones understand the benefits of the financial planning they have done.
Understanding the product
- Policy basics: Take the time to educate yourself on new policies before advising clients on the products that are right for them.
- Educate the senior consumer: Look at your senior clients and make sure they understand the policies and what they need to do to achieve their retirement and legacy goals.
- The good and the bad: Help clients understand that life insurance can have value not only during the bad times, but also in life’s good moments.
Understanding your role
- Integrity, always integrity: Recognize the importance of integrity in your relationships with senior clients and always strive to maintain the reputation of our industry.
- Excite action: Create the will in your clients to take action to prepare for retirement – the solutions exist today and as advisors we must always do what we do best – encourage our clients to take action.
Philip E. Harriman is past president of the Million Dollar Round Table and a partner with the firm Lebel and Harriman, LLP in Falmouth, Maine. He has been in the insurance industry for 28 years and has been an MDRT member since 1983.