Developing relationships with Advisors

[ValeRosso]

I’m a medicare agent whos focus is on Medicare and ACA insurance, and life insurance on the side.

My goal right now is to develop relationships with a FA/CFP or two and be able to throw business each other’s way, like a partnership without all the red tape.

My question to advisors here...how would you prefer someone like myself to start that conversation with you? A phone call, email, letter, Walk into your office, etc?

Also, if you were open to this idea, what would you look for in the insurance person before you agreed to a partnership like this?

Thanks for your time!

 

[Newby]

I’m a medicare agent whos focus is on Medicare and ACA insurance, and life insurance on the side.

My goal right now is to develop relationships with a FA/CFP or two and be able to throw business each other’s way, like a partnership without all the red tape.

My question to advisors here...how would you prefer someone like myself to start that conversation with you? A phone call, email, letter, Walk into your office, etc?

Also, if you were open to this idea, what would you look for in the insurance person before you agreed to a partnership like this?

Thanks for your time!

I’m not a FA/CFP but my wife is a CPA/CFP although she works with me in insurance. But I’ve gone to a lot of CPA conventions with her and sat at the dinners with tables full of young CPAs and advisors and I can tell you what they need and don’t know how to get.

They need clients. They have ZERO marketing skills. And in order to rise through their firms they have to bring in new clients and they have no idea how to do that.

If you really want to develop great relationships with those guys you need to become a rainmaker for them. Bring them quality people that want to do business with them and they will refer to you. The trouble with most insurance agents is they just want a one-sided relationship. They just wanna take a professional person to lunch and think that person’s gonna start sending them referrals. You are not going to get much with that. You need to send them referrals. The right kind of referrals.

 

[ValeRosso]

Appreciate the response. It goes hand in hand with what I’m doing right now, because I have 20-25 leads right now of clients who need help with their retirement funds and I couldn’t recommend anyone. So maybe I can lay this out in a phone call or email to them so I’m offering something right off the bat instead of asking for something for my business.

Personally, I would fee bad if someone threw me leads from their clients and I never gave anything in return, but thats just me. I’m sure there are a lot of people who wouldn’t care.

 

[DonP]

Appreciate the response. It goes hand in hand with what I’m doing right now, because I have 20-25 leads right now of clients who need help with their retirement funds and I couldn’t recommend anyone. So maybe I can lay this out in a phone call or email to them so I’m offering something right off the bat instead of asking for something for my business.

Personally, I would fee bad if someone threw me leads from their clients and I never gave anything in return, but thats just me. I’m sure there are a lot of people who wouldn’t care.

Curious were you got 20-25 leads of people who need retirement help . Weren’t you a former fe guy ?

 

[ValeRosso]

Curious were you got 20-25 leads of people who need retirement help . Weren’t you a former fe guy ?

Still am, just focusing on medicare now for the long term. These are either medicare or FE clients (or both) that want someone to look over their retirement accounts. I’ve already helped the ones I can with annuities where appropriate but many are still working and annuities aren’t good choices for these people.

 

[DonP]

Still am, just focusing on medicare now for the long term. These are either medicare or FE clients (or both) that want someone to look over their retirement accounts. I’ve already helped the ones I can with annuities where appropriate but many are still working and annuities aren’t good choices for these people.

I understand . But fe leads surely don’t take you to 25 people with retirement accounts . Hell i can hardly recall the last time I’ve run into a person who even works much less has a retirement .

 

[ValeRosso]

I understand . But fe leads surely don’t take you to 25 people with retirement accounts . Hell i can hardly recall the last time I’ve run into a person who even works much less has a retirement .

Yeah definitely not all were fe leads, they were a combination of other leads, and at least a few referrals that annuities weren't good for. At my last company we were basically only trained on getting the complete financial picture, asking about old 401k/403bs/IRAs, CD accounts making 2-3% interest, etc so I try to get as much info as possible without being weird about it and then I can refer back to that at a later time.

 

[LostDollar]

Hello. I have heard a lot of stories about relationship between PhD students and their advisors. There are all types and flavors: some are excellent, others are not so good and a number are real horror stories. As a PhD student, what is or has been your relationship with your advisor.

Are you in a forum for the correct industry?

How did you arrive at "PHD Student" from OP's original post?

 

[ValeRosso]

Are you in a forum for the correct industry?

How did you arrive at "PHD Student" from OP's original post?

Definitely smells like a bot post to me...

 

[LostDollar]

I am very technologically impaired and unknowledgable. Have no clue how all that works.

I guess that could make sense.