What is your biggest challenge in this economy?
The biggest challenge I’m facing in the mutual funds and annuities sector right
now is getting my clients to calm their fears of moving their money in the market.
There are individuals out there who are getting a low rate on CD’s – as little as
1%. Trying to convince them that there are different avenues they can take such
as annuities, mutual funds and bonds which offer guarantees and can still be invested
in the market is definitely a challenge.
What are you doing to overcome the obstacles?
I take the extra time to meet with clients and educate them about their financial
options. I also listen to their objections and provide them with any additional
information they may need in order to overcome their fears. Clients aren’t making
moves right now because they aren’t confident in the market or aware of all their
options.
I ask the client, “What do you do when you go to the mall? Do you buy when items
are at full price or when they are on sale?” They need to look at the stock market
the same way. They wouldn’t buy a suit at its highest price so why invest their
money at the highest price? When the market is down, that’s the perfect time to
buy!
What advice would you offer to agents during this recession?
Contact your current clients today. Everybody wants to contact clients when their
portfolio is up, but the trick is to call when it’s down. This shows that you are
watching their portfolio and care about its performance. Sit down and talk to them
about their options and let them know you care about their future.
What has been your greatest success as an insurance agent?
As a newer agent, having the opportunity to ‘learn the ropes’ from a more experienced
agent has helped tremendously!
Networking has also provided huge success for me as it is currently my biggest lead
generator. I try to build relationships with professionals who are closely connected
with their clients and are genuinely concerned about their financial portfolios
such as accountants, lawyers, mortgage brokers and real estate agents. This allows
me the opportunity to not only build a referral base but to also help other professionals
in various industries meet all the financial needs of their clients
How would you use a $100,000 lump sum of capital in order to grow your business?
I would definitely increase my marketing in the local Newark and surrounding area.
It’s much easier to build a relationship with the client if you are nearby and able
to meet face-to-face. I would also hire additional staff to help with the daily
office operations that would allow me to visit more clients and build more relationships.