When Jean Luc Picard, the captain of The Starship Enterprise, decided the next destination and speed, he would tell his helmsman to “make it so.” That is really what our prospective clients want from us. They want us to make it so. They really want to be the captain of their own ship no matter how large or small. They just want us to navigate.
Your ability to get the captain to his or her destination will determine the success of your practice. What capabilities does your practice exhibit? Are your resources capable of getting your clients to their desired destination? Every prospect is different, but their basic goals are much the same. If retirement is a targeted event, the prospects’ resources will, of course, determine much of the outcome.
However, many clients could improve their asset size if you at least have the ability to do so. Many advisors lower the clients’ expectations so much that they just give up and accept a fate of underperforming, while other advisors are helping their clients’ assets grow. Remember, as an advisor, registered rep or insurance agent, our job is to help them reach their destination, period. An insurance license may allow us to protect principal, but it may not allow us to advance them into a more secure position, with more assets due to growth. The strength and capability of a practice will definitely affect prospecting. Always remain open to methods of improving performance.
Many insurance agents have found that a securities license allows their practice to gain more clients through greater value. The series 65 license allows a producer to legally offer advice on investments. As an investment advisor representative, you will be able to reach those who wish to remain in the market for potentially greater performance. Many agents have acquired the series 65 just so they can talk about securities from a negative viewpoint, so they can sell more annuities. I don’t believe that serves a majority of the clients well. I know that it is blasphemy among annuity salespeople, but taking a very honest and realistic assessment is important.