Ask any agency manager or advisor what they like least about their businesses, and they will all say the same thing: prospecting. In fact, advisors dislike prospecting so much that only 11 to 20 percent of them do it on a regular basis.
Consider these research results:
- 50 percent of advisors quit by the end of the first year.
- 75 percent of advisors quit by the end of the third year.
- 87 percent of advisors quit by the end of the fifth year.
I think retention rates would be far higher if prospecting issues could be resolved. So why do we hate prospecting so much? Because there's a huge difference between selling and prospecting—and you might be great at the former and not at the latter.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
