David L. Spinner, CEP, CLTC, has been in the insurance business since 1972. Currently, his main focus is helping his clients and prospects with their retirement planning, using what he refers to as the four-legged stool, which consists of income, essentials, medical and discretionary.
LHP: What are the benefits and challenges of working out of your home?
DS: Working from home is convenient, but it takes a certain amount of discipline. I’ve done it since 1978 and the only time I’ve watched TV during the workday was 9/11/2001. The drawback is that in fact you are insulated even with all of the electronics. The biggest challenge is scheduling — setting a time to be in your office and a time to get out and see people. The other challenge is that your office is never closed.
LHP: How do you adjust your discussions, marketing and other aspects of your practice based on different types of clients?
DS: I know my clientele — I understand what they want and I am willing to do the grunt work to make sure that they are kept informed. I’m a good listener, and I have found out, over the years, that my clientele will tell me what they want. And they know I will do what I can to help them achieve their goals.
LHP: Talk about the biggest challenges facing advisors in general.
DS: The biggest challenge is that so many people are myopic when it comes to setting goals. With the upsurge in the market, too many people believe it will last forever (safety is for the faint of heart).
LHP: You said women will provide the biggest growth in 2015 and beyond? Can you explain your reasoning and how you plan to capitalize on this trend?
DS: Our business has been male-oriented forever. Finally we are recognizing that women are becoming more and more independent and have wants and needs, too. Women need direction and want someone they can trust and rely on. They don’t want to be talked down to. They want someone who will listen and do the little things. Generally, they are not risk takers—growth and safety go hand in hand.