In baseball, the tie goes to the runner; in our game, the incumbent broker will almost always win the spreadsheet game. (Photo: Getty)
I often hear benefits advisors say, "We compete on price, but we retain on service."
Price is always a factor; however, in most instances in this industry, it is a level playing ground. With precious few exceptions, brokers have access to the same carriers, same plan designs and same prices. By admittedly competing on price, advisors never give themselves a fair shot at earning new business.
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