New to Insurance and Investments What to Do

[JoKat]

Thanks PCB

OK. It is what it is. I am in a new area of business and I know very little about it. I do have a lot of experience in law and accounting.

What is insurance and investments but regs and numbers. I am very good at law and accounting so it would seem that regs and numbers are my game.

I just need to learn the area specifics and I should be able to run wild with insurance. I hope to learn a lot from you professionals.

 

[DHK]

What is insurance and investments but regs and numbers. I am very good at law and accounting so it would seem that regs and numbers are my game.

Uh oh.

Insurance and investments are REGULATED... but you don't talk about regulations to your prospects. They don't care.

You may talk about numbers... but numbers don't motivate a prospect to action.

This business is about EMOTIONS and FEELINGS behind THEIR numbers... not your products. The most logical presentation in the world is worthless without a desire to act on it.

Your job as the agent/advisor, is to induce a situation where the prospect BUYS you and your recommendation.

If you want to talk about IRC Section 101j with corporate clients, it's a regulation. But they won't care about it... until they know what it means to them.

John Savage, CLU (an old life agent that passed away back in 1993) said this: "Knowledge of the product is 5% of the sale. Knowledge of people - 95%. And if you ain't got that straight, you've got nothing straight."

My recommendation: Learn this industry... but learn how to use it to induce a feeling from your prospects & clients. Without it... even the most educated prospect won't buy.

 

[JoKat]

DHK I didnt mean it that way. I only meant that I would understand what the regs allowed and what the numbers would produce for a proposal fitted to the needs of the client. I would not be talking regs to the client, only that I had an understanding of the proposal that would best benefit them.

And I am good at the emotional side of things I have been a door to door candle salesperson. I don't want to brag so I wont. But I can do well with that side of the sales also.

 

[Newby]

DHK I didnt mean it that way. I only meant that I would understand what the regs allowed and what the numbers would produce for a proposal fitted to the needs of the client. I would not be talking regs to the client, only that I had an understanding of the proposal that would best benefit them.

And I am good at the emotional side of things I have been a door to door candle salesperson. I don't want to brag so I wont. But I can do well with that side of the sales also.

From reading your posts, you are going down a wrong path. Any company that wants fresh, green agents to recruit and build a downline is not out to help you. They are hacks. You are not obligated to them if you aren't even licensed yet. I would keep looking.

 

[JoKat]

Thanks Newby, I will take everybody's suggestions to heart and see where everything takes me. I will keep my eyes and ears open.