Close Close

Life Health > Annuities

Advisors: Don’t Overlook the Singles Market

Your article was successfully shared with the contacts you provided.

Valentine’s Day is tomorrow, and what better time to remember that more and more of your clients and prospects are finding themselves still single or maybe single again. If you want your practice to be a part of one of the fastest growing social media areas and a multi-billion dollar industry, keep reading:

The demographics on singles as a growing segment of the market are astonishing. Yet few advisors target single baby boomers as a viable market. With the holidays and the Super Bowl behind them and spring still months away, now is the time singles focus on finding the romantic relationship of their dreams. So how can you, an advisor, help your clients and prospects with this non-financial need?

By adding value to your client relationships beyond just their money or insurance needs. It’s not easy to find a reason to get out of one’s routine and go out on a date. And if the last time your clients were dating, Cher still loved Sonny, William Shatner had a waistline and go-go boots were all the rage, they’re in for quite a ride and rude awakening in 2012. Yet an advisor can help by hosting a singles’ event or outing.

Provide a venue and networking platform for them to attend and ask them to bring their single friends. At your singles’ event, present a short refresher course on how to date. You can invite a local professional therapist or relationship expert to speak on this topic if you’re uncomfortable with the subject matter.

Obviously you can’t fix the people your client may meet but you can encourage your client and prospect to be the best they can be by offering them the following three simple steps:

  1. The Uniform. Don’t fool yourself; think of dating as an activity or even a sport. It takes not only time but equipmentthings like a nice outfit or new hair style. A single must be ready to present their best. And their mental state must be ready as well. They should have a high energy, bubbly personality. They need to be the type of person they would want to hang out with. And be willing to put the time into writing cute intriguing emails for Internet dating. Social networking is hot now.
  2. Forget the Past. It doesn’t matter what happened to them last week or last year, no one really cares. Everyone has their story of hurt and betrayal. They need to be the “fresh-start” person. Who cares that their ex got their mother’s china in the divorce or Aunt Sally’s serving platter, get over it. Help your client realize that he or she must get over past relationship(s) before setting course for another one. 
  3. Practice Makes Perfect. OK, so your single clients and prospects have a life and don’t really need anyone else. Maybe it’s tough for them to remember what they were like pre-marriage and how much their “wants/needs/must haves” were blurred and modified over the years to suit their ex. Being single, they don’t have to answer to any bell or whistle; they can lounge around all day in pajamas or spend the entire day without makeup or not shaving. And good for them if they’re digging that laid back, all-about-me scene. But that bird won’t fly and that dog won’t hunt in the dating game. You can help them prepare to give back a little and throttle back on the strident attitude of been-there-done-that routine. Cut the other person a little slack, relax and have fun again.

As an advisor, host bowling matches, mani-pedi or driving range functions solely for singles. Remember that if your single client is also a parent, they’re already busy and if they’re even a tad bit sociable, then they’ve got a full plate. But you’ll be the hero who arranges an avenue for fun and networking for your single clients and prospects. Give it a shot and you’ll be impressed with your response and results.