Michael S. Weisman, CFP, an insurance-based financial planner in St. Louis, suggests producers start looking at community banks as allies rather than competitors, and tap into a rich vein of prospects they might never reach otherwise.

“Banks, more than ever now, are looking for fee income,” he says. “This is a great time to approach community banks. My message to agents is, find a local bank, or a bank and trust company, knock on their door and offer your services.”

Editor’s Note: The preceding tip was taken from “Bank on it: One man’s tale of opportunity,” which ran in the April 2009 issue of Life Insurance Selling. To read the complete article, click here.

To read last week’s Tip of the Week, click here.

For more on partnering for prospects, see:

My buddy system creates sales

4 steps to building a referral-boosting CPA alliance

Consider joint work