Sell Annuities Through Client Relationships
Now, more than ever before, people are looking for security when they may financial decisions. For some people, this involves seeking out the advice of a qualified financial advisor to assist in making the tough decisions about how their money is invested. Obviously, you want to be this person that customers flock to with their assets, but how can you position yourself as a trusted advisor in the financial field? How can you sell annuities and also serve people well? The key is in building a relationship with your clients.
Think about it – would you rather do business with a slick person who swoops in with glossy brochures and polished sales messages, or with someone who sits down with you to discuss your financial options and genuinely seems to care about your financial well being? This distinction becomes especially apparent when dealing with senior citizens, who may be especially wary of dealing with anyone who comes off as too professional and impersonal. There are several steps you can take to build this relationship with your existing clients and in the process sell annuities to them and their referrals:
• Try to get a full understanding of their financial situations
It isn’t enough to find out how much money a client has sitting in bank accounts and retirement investments. Take the time to sit down with a client to understand the whole picture. Where do they owe money and in what amounts? What are their biggest fears about money? When do they plan to retire and what type of lifestyle would they like to lead at this time? When a client feels that you truly care about finding the best solution for them – whether or not it’s your product – they’ll be much more likely to work with you resulting in more annuity sales.
• Explain the terms of your annuities fully
A lot of annuity agents get a bad rap for glossing over the terms of annuity surrender periods and the fees associated with early withdrawals, leaving participants unaware of the risks associated with the investments. And although these tactics may have helped them to make sales, the deception eventually catches up – many of these brokers are now being investigated by the SEC and may be subject to harsh fines and criminal sentences. Instead, take the time to make sure your clients understand both the benefits and risks of annuities fully. You don’t need to define every technical term in the fine print, just be sure that your clients are clear on what’s involved in the annuity. You’re likely to make more annuity sales to referrals when your clients feel they are fully informed.
• It’s the little things that matter
Sure, it may sound cheesy, but send that birthday card or Christmas card to clients that have purchased annuities with you. They’ll appreciate your thoughtfulness and keep you in mind if they’re thinking about making further investments. Also, take the time to make a follow-up phone call or two once a client has purchased an annuity to make sure that everything’s going according to plan and to see if they have any further questions. Your clients will see you going the extra mile and feel more confident in the annuities they’ve purchased from you. This is what leads to repeat annuity sales and referral annuity sales.
The real payoff from building a relationship with your client comes in the form of referrals and additional business. People talk, and if they’ve had a positive experience with you, they’ll be much more likely to recommend you to other people they know that are looking for financial assistance and investment opportunities.
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Tags: annuity sales
May 5th, 2009 at 5:03 pm
Hello sir;
I’m a big fan of your articles about sell annuties and marketing. I’have a question…How can i listen those articles. Because i saw an listen this post icon?
thanks
May 14th, 2009 at 3:09 pm
Great post. I have read some of Tonny Robbin’s books about building a client relationship from a sociological point of view.
His biggest point which I use in my sales industrty is to ask a lot of questions. When you meet someone for the first time in any situation the qucikest way you can develop a relationship is to find out personal information about them. You do this by asking quesitons. Once a person tells you about their personal info, they have let you into their lives. If you respect and listen to what they are telling you, you are on the path to building a relationship in a very qucik manner
The author here is dead on that instead of pumping high glossy brochers about ME, you sit down and discuss them.
Great post and good selling!
May 28th, 2009 at 2:09 pm
Hi canli izle,
if you click on the blue “listen to this post” text then choose “open” in the dialogue box. then it will play automatically.
at least it does for me and i have iTunes. If it doesnt work, maybe download iTunes (it is free)
art brightons last blog post..Art Junky
June 5th, 2009 at 11:43 am
I think it’s all about selling through your channels in and with anything. You have built in trust and then can get referrals. Although it make take longer… It’s more effective and efficient in the long run!
June 8th, 2009 at 3:48 am
I think for most businesses word of mouth is such a powerful tool - even in these days of internet businesses and ecommerce, people trust most someone that they trust and have dealt with previously, or secondly, someone who has been recommended to them by someone they trust.
Gustav Klimt Paintingss last blog post..Gustav Klimt Timeline, The Kiss History
July 13th, 2009 at 9:12 pm
Great article, I sell annuities and find trust is the number one factor. Though I only deal with personal injury settlement recipients and we provide them settlement planning which in many cases include a structured settlement.
Thank you for the information.
Bill
July 15th, 2009 at 10:52 pm
Have to agree that many annuity sales people do have a bad rep because they don’t give the full information, or they gloss over the points that will really impact their customers in the future. The information you provide though lets those potential customers have a source of information for what they should ask. Annuity sales people know what they have and can offer and the customer is relying on that knowledge. You also perhaps have opened the eyes of some of the sales people in that they can look at being more factual and relevant with their customers.
Cheers
Henal
July 19th, 2009 at 11:07 am
I think that when it comes to an annuity program, the more information the better. When an annuity program fully addresses all of your questions and concerns and then goes above and beyond by offering you additional pointers and advice, your chances of being successful increase. The more information that you have about selling your annuities and the more prepared you are, the more sales you will close. Earning top dollar commissions is much easier to accomplish when you have the selling annuity tips and tools that are required for success. This is exactly why annuities can be easily earned through clients!
July 19th, 2009 at 4:04 pm
I have found that generally speaking it is creating trust and listening more than talking.
July 23rd, 2009 at 7:35 am
I think the best thing on how to sell annuities pertains to customer service. If you provide a client with exceptional service and take the time to listen to all of their concerns and address them professionally, you will earn their trust and their referrals. If a businessman gets in on an annuity that is great and develops a relationship with the insurance agent he will certainly mention it to his colleagues who will inevitably contact you if they are interested in purchasing an annuity.
July 27th, 2009 at 2:30 am
I definitely think in order for a person to be able to make a certain profit these days, it is important to organize things based on scenarios. This means that the focus is oriented towards customer service. Sellers that are unprofessional might not even attract too many customers. Therefore, it is important that you build a network of loyal customers to ensure that you keep on selling to clients and that you are still running in the business
July 29th, 2009 at 11:37 am
The thought of a tax-free nonfluctuating inspiration of monthly sell income is beseeching for more people, as it allows them to salary different bills and it is is something that comes in period after month, ordinarily for some years. Some individuals install in annuities on their have or finished work, and annuities are quite lowborn when it comes to organic settlements in trauma cases.
July 31st, 2009 at 12:39 pm
Thanks for the advice on Annuities, i personally prefer to use qualified people. In fact, even if i dont know what the letters after the name stand for, i still am impressed by it! Perhaps that is silly, but most people think like that. For this blog, which i think is excellently written, you could make use of the breadcrumb plugin to bring all these insightful articles together.
August 6th, 2009 at 11:41 pm
Thanks for the Post . I am actually looking forward for a financial adviser to help me in this regard . Any way, this post helped me to get the basics.
August 7th, 2009 at 3:02 am
I think the thought of a tax-free nonfluctuating inspiration of monthly sell income is beseeching for more people, as it allows them to salary different bills and it is is something that comes in period after month, ordinarily for some years. Some individuals install in annuities on their have or finished work, and annuities are quite lowborn when it comes to organic settlements in trauma cases.
August 11th, 2009 at 11:12 am
I think to ensure you are building a viable financial system would be to write down the business plans you have in mind. Then, set the goals that you are targeting and let the customer be aware of that. Next, you should start working on attracting more prospects to your business by organizing meetings and appointments with them. Remain cost conscious of the services that you are offering and do no overprice things.
August 12th, 2009 at 6:55 pm
Your first point is the most important: Try to get a full understanding of their financial situations
If the annuity meets the clients needs - your job should be easy.
August 15th, 2009 at 2:44 pm
Finding the right annuity marketing strategy can be the most challenging part of the job. There are many companies out there that will promise that if you buy their program, you will be earning thousands of dollars in commissions within weeks. Many of these programs are not worth your time or money. You need to do some research before purchasing any of these to make sure you are buying a program that will provide you with all of the necessary information that you need to succeed..
August 19th, 2009 at 6:56 am
The annuity comes in different flavors in that it can be flexible, the premium or single, judging by the deposits made and the number of deposits over the years, by deferred or by immediate payment, judging by the time payment is set to start, by the money that was paid for them and the amount of taxation for that annuity as well as judging by the way the payments are made, whether they will come with interest or whether they will be accounted as being fixed or indexed.
August 26th, 2009 at 2:35 am
Building trust between the client and the advisor is the only way you will build a long term, mutuall beneficail relationship but like anything, it takes time and it can’t be done overnight. Oh and I find that listening to your client is far better than talking all the time!
August 30th, 2009 at 1:37 pm
One of the best attributes of any financial manager is how well they listen to the client. Of course really knowing what the clients true goals are is extremely important. Some folks have no tolerance for risk. A good adviser will not over step their bounds by making decisions that do not benefit the client.
August 31st, 2009 at 2:07 am
This sentence is probably the most important for those who require assistance “Think about it – would you rather do business with a slick person who swoops in with glossy brochures and polished sales messages, or with someone who sits down with you to discuss your financial options and genuinely seems to care about your financial well being? “. You want the feeling of understanding and genuine interest in your benefits at the end of a meeting, not just a whole bunch of glossy paper that confuses you left when the wind blows out the door with the agent!
Regards
Amanda
September 3rd, 2009 at 1:25 pm
If you are going to make a sale in todays world, there is only one principle that you should always stick with: good customer service. Nobody would like to buy something from an unprofessional and unaware seller. That is why it is important to build a client-focused approach to selling.
September 4th, 2009 at 11:41 am
The more information that you have about selling your annuities and the more prepared you are, the more sales you will close. Earning top dollar commissions is much easier to accomplish when you have the selling annuity tips and tools that are required for success. T
September 14th, 2009 at 10:25 am
Successfully selling annuities require a step by step procedure. You will have to do a preliminary planning by assessing your resources at hand. You will then begin to start your planning tailor-made to your prospects needs. Lastly, you will need to put your plan into action and try to build a lasting relationship with your client.
December 25th, 2009 at 2:48 am
Finding the right annuity marketing strategy can be the most challenging part of the job. There are many companies out there that will promise that if you buy their program, you will be earning thousands of dollars in commissions within weeks.
December 29th, 2009 at 10:58 pm
Thanks for the advice on Annuities, i personally prefer to use qualified people. In fact, even if i don’t know what the letters after the name stand for, i still am impressed by it!
January 5th, 2010 at 9:31 pm
Thanks for the advice on Annuities, i personally prefer to use qualified people. In fact, even if i don’t know what the letters after the name stand for, i still am impressed by it! Perhaps that is silly, but most people think like that.
January 8th, 2010 at 12:38 pm
This website is a great annuities website
January 21st, 2010 at 8:42 pm
Some individuals install in annuities on their have or finished work, and annuities are quite lowborn when it comes to organic settlements in trauma cases.
January 24th, 2010 at 1:41 am
Thanks for the advice on Annuities, i personally prefer to use qualified people. In fact, even if i dont know what the letters after the name stand for, i still am impressed by it! Perhaps that is silly, but most people think like that.
January 26th, 2010 at 11:08 pm
You should start working on attracting more prospects to your business by organizing meetings and appointments with them.
January 27th, 2010 at 7:47 am
Your last point is very important. Keeping in touch with past clients has always been key nowadays even more so. At least it’s a lot easier now with things like email, facebook, twitter, etc - Plus all of these are free.
I dread remembering how many envelopes I used to stuff and stamps I had to lick!
February 4th, 2010 at 9:08 am
Thanks for the advice on Annuities, i personally prefer to use qualified people. In fact, even if i don’t know what the letters after the name stand for, i still am impressed by it! Perhaps that is silly, but most people think like that.