Client Acquisition Book

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Client Acquisition Book - A Success Guide for Financial Service Professionals is available also in hard copy: $40. Check out Publications

A marketing guide based on the highly regarded Prospect or Perish material developed by I.David Cohen
Today’s Financial Services Professionals:

Thrown into the Water before Learning How to Swim

Today’s insurance and financial services professionals are facing an educational crisis. As the insurance industry has changed, the focus of most companies has been diverted from sales education for their representatives, to primarily product development. Sales forces have transitioned from internally driven, company-specific sales teams to a largely outside, independent base.

Most of today’s financial service companies see themselves as product manufacturers. Those insurance and investment products are then distributed through whoever will ring doorbells on their behalf. This has led to a common pattern of heavy recruitment (with high emphasis on quotas and limited advanced screening), nominal training, and then thrusting novice representatives out into the proverbial waters with little instruction or over-the-shoulder guidance on how to keep one’s head afloat, let alone how to swim.

The industry has devolved into a numbers game, which has had negative consequences on both the insurance industry and the general public. For example, according to the Life Insurance Marketing Research Association, out of every one-hundred sales reps recruited, only nine will still be in the industry in four years. This adversely affects the companies, their customers, as well as the lives and families of the salespeople themselves.

Further, the general public has also suffered from this educational crisis. The National Bureau of Economic Research is one of several independent organizations that have adamantly claimed for several years that many of today’s family households are under-insured. Unfortunately, under-insured people do not realize this, until either A) their needs are efficiently met by a representative who knows how to properly educate and serve the client, or B) the family suffers a tragic loss, and by then it is too late.

The number one reason representatives leave the business is not lack of product knowledge, or even selling skills. They leave the business for lack of prospects. As a result, it is our pleasure to present this new course for the financial services industry. This is not about selling. The content that follows covers, in a very definitive way, the enigmatic subject of prospecting.

Advisors learn how to overcome the psychological barriers to prospecting and innovative approaches to setting income and activity goals.