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Insurance agents get a bad rap. they aren't treated too kindlyon TV either. Agents and advisors with a few years under their belthave gotten that call from a brand new client who decided to back out or "reneg" onthe transaction. What can you do to minimize thepossibilities?
Why does this happen?
The sales profession attracts lots of Type A personalities.These are brash, larger than life and often considered pushy. On TVthey are also portrayed as people who get prospects to "sign here."Many members of the public think of sales as a zero-sum game:There's a winner and a loser. The insurance agent who pushes,pushes and pushes until the client agrees, then hurries out thedoor reinforces this stereotype. If there's a winner and a loserand the broker just ran off smiling, it's pretty obvious who thewinner is. The client assumes they are the loser. They look for away out. It's probably why the cooling-off period wasdeveloped.
A different way to leave the scene
After speaking with successful agents and advisors, I learnedthey have some good, ethical strategies. Here are six:
1. Positive reinforcement. As soon as they havecommitted, congratulate them on making a good decision.
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Bryce Sanders
Bryce Sanders, president of Perceptive Business Solutions Inc., has provided training for the financial services industry on high-net-worth client acquisition since 2001. He trains financial professionals on how to identify prospects within the wealthiest 2%-5% of their market, where to meet and socialize with them, how to talk with wealthy people and develop personal relationships, and how to transform wealthy friends into clients. Bryce spent 14 years with a major financial services firm as a successful financial advisor, two years as a district sales manager and four years as a home office manager. He developed personal relationships within the HNW community through his past involvement as a Trustee of the James A. Michener Art Museum, Board of Associates for the Bucks County Chapter of the Fox Chase Cancer Center, Board of Trustees for Stevens Institute of Technology and as a church lector. Bryce has been published in American City Business Journals, Barrons, InsuranceNewsNet, BenefitsPro, The Register, MDRT Round the Table, MDRT Blog, accountingweb.com, Advisorpedia and Horsesmouth.com. In Canada, his articles have appeared in Wealth Professional. He is the author of the book “Captivating the Wealthy Investor.”
