A recent Marketing Corner explored five sales opportunities that you might not have considered in a while. Thanks to your overwhelming response, we decided to post a follow-up article with even more ideas and conversation-starters aimed at helping you make sales. From client engagement to marketing strategies, here are some additional sales opportunities you might have overlooked.
Policy Reviews
If you created a long-term financial plan for a client, it is your duty to make sure their financial needs are still being met and everything is still on target. So much can change over the course of one’s life before retirement or death. A client could experience a major life event, like a birth, death, marriage, or divorce. Any of these events could shift their financial priorities. During the excitement or chaos of these life events, they may not consider how their overall financial plan will be impacted.
On top of a regular performance review, check with your clients about how their life is going and what their continued needs may be. In addition to maintaining a good client relationship and leading to other sales opportunities, this prevents other advisors from snaking away your client, through the strategy discussed below.
Tax Planning
The amount of tax/economy-related legislation that has passed or been proposed in response to the pandemic has been staggering. From the CARES and SECURE acts to the price tag attached to Biden’s American Jobs and American Families plans, the tax environment ahead remains unclear. This offers several planning opportunities to present to your clients. Act now before any legislative changes take place and work to establish flexible strategies.
Many of your clients, especially those at or near retirement age, could face a higher tax burden due to the uncertainty on the horizon. Don’t wait for action in Washington. Be proactive and start talking to your clients now about how you can protect their wealth. Click here for resources that will help you get that conversation started.
Multi-Life Disability Insurance
Disability insurance is a vital form of income protection, yet is often overlooked. Many of you have probably discussed the importance of DI protection with your individual clients. But what about those of you who work with small business owners? Historically, DI premiums are higher than they have been in the past. This makes multi-life programs attractive for both employees and employers. Employees can take advantage of discounted premiums and relaxed underwriting, while employers can offer a more valuable benefits package at an affordable rate.
Bridge The Generation Gap
Most of your clients are working with you so they can leave a legacy for their children. And many of their children are younger adults starting lives and families of their own. This is a good opportunity to cross that bridge and help your clients’ children craft a plan that will make the most of that legacy. As unpredictable as the next two-three years are going to be, it’s impossible to tell what the next 10 years will bring.
Invite your clients to share your contact information with their adult children. The trust you’ve built with them should easily carry over to the next generation and bring a new client through your door.
Putting It All Together
These are just a few items on a laundry list of sales opportunities and ideas to help grow your business. No matter which you utilize, staying organized is fundamental to your success. To help keep things together, IAMS created an exclusive 2021 Marketing Calendar. This indispensable planning tool for independent producers features:
- Critical Production Goals & Tracking
- Important Reminders
- Relevant Planning Tips
- Monthly Marketing Ideas
The year is halfway over, but it’s never too late to get organized. We only have a handful of these complimentary calendars left. Reach out today to request yours.