Advisor Today - September/October 2012 - (Page 8)
»from the editor
Ayo Mseka, Editor-In-Chief
The American Dream Revisited
hree years ago, I shared with you the results of a MetLife study that highlighted some of the changes many Americans had been forced to make because of the severe economic downturn. Their achievement of the American Dream was delayed, and their actions were buoyed by pragmatism rather than by consumerism. The silver lining in that dark cloud, the study noted, was that many had moved from intent to action in terms of securing their ﬁnancial future. The economy has still not fully recovered since that study was released. Americans are still facing high unemployment and struggling with lackluster market performance. But despite the sluggish economy, many Americans are taking slow but steady steps in saving for their children’s education, saving for their retirement, and what should be good news to you, buying ﬁnancial-protection products for themselves and their families. For example, according to LIMRA, in 2011, annuity sales increased after two consecutive years of decline, individual disability income insurance sales were quite solid, and premium for individual life insurance sales was up for each quarter. In fact, 14 million U.S. households bought life insurance within the past two years. This uptick in sales notwithstanding, LIMRA estimates that six million potential buyers did not buy life insurance. “They got away,” notes the organization’s Cheryl Retzloff, LLIF, ACS. “These are the nonbuyers who had issues or concerns, which, if addressed, could have turned them into buyers.” Going after the non-buyers So what does it take to turn prospects into purchasers? According to the LIMRA study, recent life insurance shoppers
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suggested several steps you can take to turn things around: 1. Reach out to your clients when life happens. 2. Build client relationships. 3. Help prospects understand what products to buy. 4. Follow up with prospects. 5. Focus on your current clients. 6. Use a variety of methods to contact your clients and prospects. These tactics for selling are similar to those you will ﬁnd in this issue of Advisor Today. Our cover story on Page 32, for example, reveals the secrets of four young advisors who know what it takes to build a thriving practice, while on Page 44, several industry experts and top-performing producers share some time-tested techniques for maximizing your sales efforts. September also offers additional opportunities for you to boost your sales production. The NAIFA Career Conference and Annual Meeting in Las Vegas is an excellent opportunity for you to network with industry giants and ﬁnd out what works and what does not in the ﬁne art of selling ﬁnancial services. And you can take advantage of the beneﬁts of Life Insurance Awareness Month, the public-education effort spearheaded by the LIFE Foundation to persuade millions of Americans to buy as much ﬁnancial protection as they can afford. As the economy continues to inch its way toward recovery, more and more Americans will join those already reaching for the American Dream. No matter what version of the dream they ultimately embrace, they need your expertise and advice to help them get to it a bit more quickly, and hold on to it a bit more securely. The assistance you give them in achieving their dreams will help move you closer to the practice of your dreams. ■
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8 ADVISOR TODAY | September/October 2012
Table of Contents for the Digital Edition of Advisor Today - September/October 2012
From The Editor
Making the Transition
Will We Avoid the Fiscal Cliff at the End of 2012?
Boosting Retirement Plan Participation
Protecting Younger Workers’ Greatest Asset
From Term to Perm
Demystifying Life Insurance
Four Under Forty
My Best Sales Ideas
NAIFA Government Relations
Insuring People in the World of Sports
Advisor Today - September/October 2012