Looking for the Right Opportunity

[WestCoastFl]

Hi,

First post here on the forum. I'm a 20year plus CFP who is life and securities licensed. On August 24th of 2015, the stock market fell 1,200 points in the first couple hours of trading. I resigned my position with a large brokerage firm one week later. I just didn't want to work with the stock market anymore.

I've done some entrepreneurial things since leaving the business but I'm looking to put my CFP skills to work and am thinking insurance. I have a lot of life insurance knowledge, good employee benefits knowledge and decent health insurance knowledge. I've worked with tons of senior citizens and I believe I would be an asset in the right situation.

The problem I'm having is I'm very consumer focused. As a CFP I was taught to get the client the "best" solution not just a solution. I'm having trouble finding insurance folks who feel the same.

Any advice or direction you can give would be appreciated. I'm life licensed in Florida, still have my CFP and series 7, 63, 24, 9 and 10. I live between Fort Myers and Sarasota. Thanks in advance for any advice.

 

[DHK]

Tell me... what do you know about permanent cash value life insurance? If you haven't already, pick up Kim Butler's book on Busting the Life Insurance Lies on Kindle for free: https://www.amazon.com/Busting-Life...=8-1&keywords=busting+the+life+insurance+lies

One option for you could be to join Ohio National as an independent agent and the ONESCO B/D. They are also a forum sponsor. You'll see a banner ad at the top of the forum, or you can just go to www.joinohionational.com. Your life insurance production would also count for your securities production too.

Also, you may want to use your CFP as a Series 65 exempt designation and primarily work with an RIA and tactical asset management on a risk adjusted basis. I know what you mean regarding the stock market. This is my presentation on Risk Tolerance and Recapturing Investment Losses:




As far as your impression of life agents providing "a" solution vs "best" solution... is all in the eyes of the beholder.

 

[WestCoastFl]

I know a lot about it. I worked with Nelson Nash and that group for awhile but didn't fit in because I would take an add a term rider to their policy design which allowed me to build in 90% SCV in the policy year one vs 45% SCV in year one using their policy design. That cut my commission a lot but it was the "best" thing for the client.

 

[Glen Shelton]

Hi,

First post here on the forum. I'm a 20year plus CFP who is life and securities licensed. On August 24th of 2015, the stock market fell 1,200 points in the first couple hours of trading. I resigned my position with a large brokerage firm one week later. I just didn't want to work with the stock market anymore.

I've done some entrepreneurial things since leaving the business but I'm looking to put my CFP skills to work and am thinking insurance. I have a lot of life insurance knowledge, good employee benefits knowledge and decent health insurance knowledge. I've worked with tons of senior citizens and I believe I would be an asset in the right situation.

The problem I'm having is I'm very consumer focused. As a CFP I was taught to get the client the "best" solution not just a solution. I'm having trouble finding insurance folks who feel the same.

Any advice or direction you can give would be appreciated. I'm life licensed in Florida, still have my CFP and series 7, 63, 24, 9 and 10. I live between Fort Myers and Sarasota. Thanks in advance for any advice.

I am a big fan of the senior insurance market and I believe it is a big opportunity with the expected growth for years to come in this niche (10,000 people turning 65 everyday here in the US).

​

If you have life and health knowledge and you have worked well with senior citizens previously - it could be a good fit for you.

 

[DHK]

That's an excellent point. The list of securities licenses swayed my original reply as I may have assumed (there's that word again) that he may have wanted to keep and preserve them. My Ohio National recommendation was based on that assumption.

 

[Glen Shelton]

That's an excellent point. The list of securities licenses swayed my original reply as I may have assumed (there's that word again) that he may have wanted to keep and preserve them. My Ohio National recommendation was based on that assumption.

I have worked with a few different Medicare Supplement agents who also cross sell annuities/investments quite successfully.

Usually these agents would target the "financials" during the annual review appointment.

Maybe that securities license would still be beneficial for them in the senior insurance market

 

[BYSFG]

As far as your impression of life agents providing "a" solution vs "best" solution... is all in the eyes of the beholder.

But you can't deny that there's life insurance agents and then there's "life insurance agents."

 

[heynow5]

Why would Nelson Nash care if you used a term rider or not? That's actually how he recommends it anyway. Plus he's not your GA, you can design policies anyway you want. Not I understand when you say you worked with Nelson Nash and didn't fit in.

 

[InsladyUSA]

Hi,

First post here on the forum. I'm a 20year plus CFP who is life and securities licensed. On August 24th of 2015, the stock market fell 1,200 points in the first couple hours of trading. I resigned my position with a large brokerage firm one week later. I just didn't want to work with the stock market anymore.

I've done some entrepreneurial things since leaving the business but I'm looking to put my CFP skills to work and am thinking insurance. I have a lot of life insurance knowledge, good employee benefits knowledge and decent health insurance knowledge. I've worked with tons of senior citizens and I believe I would be an asset in the right situation.

The problem I'm having is I'm very consumer focused. As a CFP I was taught to get the client the "best" solution not just a solution. I'm having trouble finding insurance folks who feel the same.

Any advice or direction you can give would be appreciated. I'm life licensed in Florida, still have my CFP and series 7, 63, 24, 9 and 10. I live between Fort Myers and Sarasota. Thanks in advance for any advice.

I like what you've written here. It seems like your head and your heart's in the write place but you haven't said a word about your sales skills. There are lots of opportunities out there in the senior market selling insurance but you've got to have sharp sales skills bc it's extremely competitive.
Why are you only 215 licensed in Florida?
You can apply to be licensed in several other states using reciprocity and that will open up a lot of opportunities for you.
I sell exclusively med supps and exclusively over the phone. I'm based in Florida but licensed in 38 states across the US.
Another idea that may fit your skill set is the 403b market. Essentially this involves going into schools and presenting financial products to their teachers and staff. I've got a few friends who do this in Florida and they've been quite successful.
I hope this helps.

 

[Agentguy5]

Any advice or direction you can give would be appreciated. I'm life licensed in Florida, still have my CFP and series 7, 63, 24, 9 and 10. I live between Fort Myers and Sarasota. Thanks in advance for any advice.

Since I work Fort Myers selling Final Expense, I am curious as to what you have decided to do this year? Did you find a place that's comfy?