What I Learned From The Most Successful Advisors

By Dan Pierson

In my career, I’ve had the privilege of working with some of the most successful insurance advisors in the country, helping them to find a place for large, hard-to-place cases, resulting in millions of dollars in commissions.

I have served on multiple insurance carrier advisory boards and participated in a global think tank about the future of life insurance. The people I have worked with are all smart, dedicated and hardworking insurance professionals. They are mostly Forum 400 advisors who work with clients whose net worth exceeds $100 million. They are also great teachers.

I’ve learned some lessons from watching top advisors do the things that make them so successful. However, many other lessons have involved noticing what other insurance advisors either didn’t know how to do or were not willing to do.

1. Top insurance advisors invest in their business.

The phrase “it takes money to make money” is definitely true in the insurance business. Virtually all successful insurance advisors invest heavily in their businesses, whether that means hiring a coach, marketing their practice or investing in the latest technology.

2. They invest in their staff, and they delegate, too.

Successful insurance advisors realize that everyone has a unique ability and a particular talent that they excel in. A good insurance advisor’s talent is being able to connect with clients, understand their needs and gain their confidence so that the client or prospect feels comfortable taking appropriate action.

Top advisors do not focus on routine tasks like filling out paperwork, running quotes, handling customer services calls or doing other administrative work. The best advisors find, hire and train the right people to do these things. In this way, they give themselves the time to do what they are good at and should be doing – interacting with their clients.

3. They spend their time wisely.

The insurance advisors I have worked with realize that their time is as valuable as their money. They make sure that they are working smart, not just doing busy work. For example, you won’t find these advisors spending time learning every detail about an insurance product they are unlikely to ever sell.

4. They put their clients at the center of their business universe.

Top insurance advisors make their clients the focus of their business universe. This means not only doing what is best for their clients (that’s a given) but also providing their clients with an expected and repeatable experience, putting themselves in their clients’ shoes and working tirelessly to provide the tools and resources necessary to help their clients with their needs. For most advisors, this means putting in place some type of technological platform as well as specific, well-defined processes and procedures.

Do you employ these four tenets? It’s not too late to adopt them and make them an integral part of your business life. I’ve seen many advisors change their entire practice, exponentially increase their revenue, and improve their client relationships simply by incorporating these four points. Does this sound like a plan you can get behind? Why not make 2019 a new year for you?

Dan Pierson is founder and chief marketing officer of LegacyShield Solutions. Dan may be contacted at dan.pierson@innfeedback.com.

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