Financial Planner in Northeast Ohio Looking for a Good Independent P&C Agency to Send Clients to

[CFP83]

I need a trusted P&C agency in Central or Northeastern Ohio.....here's the backstory.

One of the areas of specialty for our firm (I own a small Canton Ohio based RIA) is our fee-based financial planning service. As part of our annual financial-planning process each year with each client we look into their tax situation/estate planning/protection planning to make sure there are no gaps or “blind spots” so to speak. As a part of our planning software, we have copies of all our clients dec pages and have their policy info entered into their financial plan. The overall plan is extremely comprehensive and provides the client their own personal secure website to view their plan (we use a software called eMoney).

My issue is this, I need to create a meaningful & mutually beneficial relationship with a successful, independent P&C agency in central or northeastern Ohio. I'm looking for an agency who actively does business with many carriers and doesn't simply push all their business to one carrier like a captive.

Common issues I'm seeing as I review our clients dec pages are limits of liability coverage being drastically less than the clients net-worth.......$500 deductibles for someone who has 100k in cash. Silly items that just show a lack of attention and lack of relationship.

I have been working with my independent P&C broker where I have all of my policies (including a 9k per year commerical policy through westfield that covers all of my single-family rental properties). Although I have given him 11 of my client households already this year....he's not too excited about taking on more.... I have emailed him on 5 other clients this past week that want to switch to him and he replied that he's not sure if "he'll have the time to get to them for 3-4 weeks. Bottom line, he's fat dumb and happy collecting his renewal stream. He doesn't like the work of putting all the info together. I am bringing him clients on a silver platter here......I have already sold them on working with an indy agent and the fact that he is trusted.....they are ready to go. As if the above were not ridiculous enough, he has not referred us business. Be it investments, life insurance (which they don't do) or clients needing advanced financial planning....he trips over 10-12 opportunities a year where we could tremendously help his client and improve their overall situation.

Long and short, if you are located in Central or Northeastern Ohio contact me as I need to remedy this situation.

 

[nickfernando]

Sent you a direct message.

 

[TASWAIN]

Apparently because I'm a newbie I am not able to DM you. Maybe after posting this message I'll be able to.

Nevertheless, I too may be of service to your and your clients.

 

[shawnmwalker]

1001 Eastwind Dr, Suite 303
Westerville, OH 43081
614-327-0344
Driving Directions Daren LivermoreDaren Livermore
[email protected]

 

[insurance1822]

Met? Guardian? NYL?

In my experience, you love to pitch the referrals you have "tee'd up" ready to go, then you get into the nuts & bolts..which is you want access to our book. You want to offer a commission split on everything you write off our book.

In my experience, all you typically care about is freeing up money to convince joe the plumber to spend 20% of his salary on whole life.

If your referrals were meaningful, no P&C agent would pass them up. My FA referrals are easy deals that are ripe for the picking. I never trust FA's that are actively looking for us P&C guys.

Maybe I'm wrong.

I'm skeptical

 

[DHK]

I think you'd need to read some of CFP83's past posts to figure out more about him.

Your criticism, while very valid for the majority of the industry, I believe is NOT well-founded for what CFP83 is trying to accomplish for his clients.

 

[insurance1822]

^i didn't read his post history & if you're right..then there's a first for everything.

 

[CFP83]

Met? Guardian? NYL?

In my experience, you love to pitch the referrals you have "tee'd up" ready to go, then you get into the nuts & bolts..which is you want access to our book. You want to offer a commission split on everything you write off our book.

In my experience, all you typically care about is freeing up money to convince joe the plumber to spend 20% of his salary on whole life.

If your referrals were meaningful, no P&C agent would pass them up. My FA referrals are easy deals that are ripe for the picking. I never trust FA's that are actively looking for us P&C guys.

Maybe I'm wrong.

I'm skeptical

Let me repeat, I am an RIA in northeastern ohio.....it seems that you do not know what that means. I do fee-based investment planning and do not utilize a broker dealer. Doing business with a captive insurance company and being an RIA is not possible. Any life insurance carrier we do business with we do that business as a broker.

Our clients pay us an annual fee for their annual financial-plan and planning services.....we have roughly 150 clients who pay this annual fee. One of the many values of this service is to provide "value added" feedback. Refinancing a home, p&c insurance updates needed, bringing in our CPA alliance or estate planning attorney are just a few of the things we talk about with all of these clients without a financial incentive. Two full days per month our CPA and estate planning attorney are here in my office all day meeting with our clients.

As a financial planning client, the clients are paying us to be their "family CFO", not a product guy.

I do not offer whole life insurance, outside of large corporate cases.

I am not looking for access to any p&c agents book, rather just of a bit of an expectation that if I give them 10-15 clients then that THEY ALSO begin looking for ways to BENEFIT THEIR CLIENT by referring situations to us where it makes sense.

I don't "pitch a referral" as you coined it, my office emails the agent dec pages and the clients info.....the agent contacts us only if they feel like they can do better. Our clients don't want to be bothered unless I have found something that will be meaningful not trivial.

Here my part of Ohio I find that every time I look at someone's dec page it doesn't line up to their financial situation. Therefore this creates a tremendous opportunity for someone I can pass my clients along to.

 

[insurance1822]

^ So do all RIA's operate this way? What type of fee do you typically charge? If somebody doesn't have assets yet, how would you determine a fee to charge them? If somebody rolls up who wants to start a financial plan & has nothing...you need to make money so how do you charge an amount they can afford for service? Or do you not take on those clients?

 

[BuckeyeR]

I am located in Columbus area will send a PM