Technology might not seem like a likely tool a financial advisor can use to build client relationships. It almost goes without saying that older generations prefer human interaction versus digital services when it comes to their finances. And surveys have found that even tech-savvy millennials are more likely to get help with their finances from real-life advisors than from robo-advisors. 

So how can technology help financial advisors strengthen and add value to their relationships with clients—especially older clients—when it lacks the human touch? After all, a computer can’t hold your hand during a market downturn. 

But there is new technology that can enable advisors to build their businesses by giving them the ability to better assist aging clients and clients taking care of aging parents at the stage of their financial lives where they need the most help. That new technology is Carefull.

Join us on February 11, 2022, at 3 pm eastern for the special webinar "Home Equity and Roth Conversions."

The discussion will feature Harlan Accola, CRMP, National Reverse Mortgage Director of Fairway Independent Mortgage Corporation, interviewing Jim Silbernagel, CFP, CEPS, LACP, LUTCF creator and host of Real Wealth^® Marketing, on how he has helped clients lower their tax burden using the equity in their homes. 

NAIFA has announced that it will hold its 2022 Congressional Congress in-person May 23-24 in Washington, D.C. The event will feature targeted advocacy training with briefings on legislative issues that affect members’ businesses and the clients they serve. Expert presenters will offer best practices for conducting Congressional meetings and tips for developing impactful long-term relationships with legislators.

A successful agent in the insurance business has built their business by making and keeping promises to their clients, staff, family, and themselves. However, an individual may decide to retire, their situation may change, or something else may arise that makes it necessary to cut back or stop their activity in the insurance business.

Finding ways to keep those promises means you need a good game plan for succession. There is far more to be considered than a simple financial transaction. Relationships must be transitioned and maintained. Let's examine a few items to consider as you build your game plan.

NAIFA is pleased to announce that its 2022 State Chapter Presidents have taken office as of January 1. State Presidents provide leadership for their states’ advocacy team, drive their states’ grassroots influence, build participation in NAIFA state legislative days and send state representatives to NAIFA’s annual Congressional Conference in Washington, D.C.

For Scott Johnson and Tim Johnson, insurance runs in the family. The brothers followed in the footsteps of their father and grandfather and now work together at American National in Bountiful, Utah.

A Shared Mission

Scott and Tim share a passion for building relationships with their clients and their community. Being able to maintain relationships with clients is what keeps them motivated. “We're not a one-and-done community,” says Scott. “You don't go work with somebody and never see him again here.” This connection is what makes a good agent, the brothers agree. Tim adds that persistence, knowledge, discipline, and enthusiasm also play a critical role in an agent’s success.

Lawrence Holzberg, LUTCF, LACP, Managing Director and Director of Insurance and Advance Sales, at Fortis Lux Financial, in Melville, NY, (loyal member since 1990) is the 2022 President of the National Association of Insurance and Financial Advisors (NAIFA). Bryon Holz, CLU, ChFC, LUTCF, CASL, LACP, President of Bryon Holz & Associates in Brandon, FL, (loyal member since 1987) is President-Elect, Thomas M. Cothron, LUTCF, Agency Manager with Southern Farm Bureau Life Insurance Company in Ocala, FL, (loyal member since 1981) is Secretary, and Brock Jolly, CFP, CLU, ChFC, CLTC, CASL, CFBS, of Veritas Financial LLC/MassMutual Financial Group in McLean, VA, (loyal member since 2001) is Treasurer. Thomas O. Michel, LACP, Managing Director of Michel Financial Group in Los Angeles (loyal member since 1986) will continue his service as Immediate Past President.

NAIFA has announced the completion of its 2021 Business Implementation Plan that is phase one of its 2025 Strategic Plan, and the release of its new Business Implementation Plan for 2022. The 2025 Strategic Plan builds on the NAIFA 20/20 plan penned in 2016 that navigated the organization through a complete restructure of its chapters and overhaul of its bylaws.

Are you leaving money on the table?

If you aren’t nurturing and engaging with your leads and clients, the answer is yes. According to Invesp, “Companies that excel at lead nurturing generate 50% more sales-ready leads at a 33% lower cost.”

Lead generation is only the first step in a well-rounded, efficient marketing plan. To maximize your lead generating efforts, you need to interact with those leads and connect with your clients. If you don’t keep in touch with them, they’re likely to forget about you, and that leaves the door wide open for your competition to creep in. 

When Bailey Baker was recruited to work at State Farm by a family friend, she had no idea what she was getting into. So, she did her research. Looking for a career she could retire from, she interviewed State Farm agents and others in the industry, to see if insurance was a good fit. What she found was her calling: helping people protect their lives and livelihoods.

Baker and her team offer a wide array of products, from home and auto insurance to life insurance to pet insurance, and her clients are just as varied. "We have a pretty big range: all generations, all areas. Texas is our client, basically,” she says.