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ThinkAdvisor

Life Health > Life Insurance

Link building

By Philip E. Harriman

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“The quality of your life is the quality of your relationships.” -Anthony Robbins

When prospecting for potential new clients or generating leads, advisors are really looking for individuals who need their expertise in order to plan their finances. The key word here is “expertise.” As advisors, we have unique knowledge of the financial industry that most others do not.

It is important to ensure people in your circles, whether friends, family or acquaintances, know what your unique abilities are as a financial services professional. This way, as you cross paths with individuals, they will have a reason to think of you when that topic comes up in conversation.

While the processes are similar for life insurance professionals and advisors who specialize in other practices, it is undoubtedly easier to market yourself if you have a unique area of expertise. Most people who are interested in working with an advisor do not fully understand the investment business, especially when explained broadly. This specialization allows you to stand out as an advisor and connect with the people who will benefit from your services the most.

Life insurance as a specialty

While the processes may be similar, specializing in the placement of life insurance products is different than any other financial product. Life insurance is an emotional sale reinforced with logic, allowing your clients to make a more personal connection with you. Working with a client to find the proper life insurance product will not only create a lasting relationship, but also build trust between you and your clients.

The best kind of referral

This could potentially encourage them to pass your name on to other individuals who may be in need of a financial advisor. Rather than starting from scratch when building relationships, think about making new connections through old ones. Say there is an individual you have a long-standing relationship with. It is much easier to go to them and generate referrals in lieu of trying to create all of your new client relationships through marketing yourself to those who do not have a third-party connection. Referrals from close connections often are the most trusted by individuals.

While expanding your client base can be challenging at times, especially in volatile economic times, it is the most important tactic successful advisors and insurance agents can use to grow their practice. Ensuring your current clients are satisfied with your service while also expanding your expertise to other individuals is the key to success.

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