Access to financial information, consumerism, regulatory changes, and a shrinking agent/advisor field force are shaking up the financial services industry, and whether we like it or not, these changes are here to stay. Today, I'll zero in on the "insured" products: life insurance and annuities. I'm aware there are many other "safe money” products like Medicare supplements, critical illness, disability income, and more, but for our audience, I'll focus on life insurance and annuities as they're the products our readers are most likely to sell.

The current situation isn't new: the insurance industry has long grappled with the aging of the field force. LIMRA, along with other research firms, continues to highlight that the average age of the field force is around 58 or 59 years old. Some studies suggest this age is decreasing. Why? In my view, it's due to the retirement and passing of agents who began as career agents and have generously fueled our industry with sales for many years. Others may attribute it to the challenges of digitalization and regulatory hurdles, prompting some to leave prematurely. So, what does this mean for the industry? (And remember, you're part of it). Let's delve into it...

Regardless of what unfolds in Washington or elsewhere, there's immense pressure on insurance companies to revamp delivery channels to drive more sales, better sales, compliant sales, and more profitable sales. This entails reducing costs and enabling consumers to purchase when, where, and how they prefer. This shift includes online sales of more transactional products like term insurance (Yes, I'm aware "Big Lou" is already selling term on Sirius, and he's on meds too). There's also a push to develop products that consumers actually want to buy, not just the ones sitting on shelves for years. Furthermore, insurance companies are seeking strategic alliances/partnerships with marketing organizations and banks to deliver quality, compliant, and suitable sales to consumers. Nobody wants to be part of a scandalous expose on bad sales - with social media, it only takes a moment, and you'll be defending yourself indefinitely. So, where does this leave us... the current delivery system for these products? I believe we're in the "catbird seat" if we're perceived as credible and integral. So, where do we begin?

As much as I disapprove of the DOL/Fiduciary rule, I believe it will spotlight the good guys and girls—the ones who've always prioritized their clients’ best interests. I think the requirement to use assessment tools before making recommendations will result in more sales, larger sales, cross-selling opportunities, and more quality referrals.

I also believe boutique marketing organizations, like The Ohlson Group, will be the go-to marketers for many insurance companies. These are organizations whose members have acquired quality designations, possess home office experience, and prioritize quality over quantity. I anticipate carriers will steer clear of “spreadsheet” organizations—companies that merely market the product of the day. That's why we're excited about the future. However, today's advisor deserves and needs more.

Okay, let's talk DOL, as it's driving consumer awareness towards best interest principles. Advisors need training on how to use the new assessment tools and also instruction on how to make it a productive income driver in their practice. If advisors view the tool as a mere obligation, they're missing out on a tremendous opportunity to become the retirement go-to person in their community. The Ohlson Group is qualified and ready to lend a helping hand. We'll help you become “digital ready” in your practice. We'll assist with client/prospect engagement, periodic reviews, presentations, and provide quality content for your clients and prospects every month.

All of this isn't new. The industry has been aware of these trends for years, yet many chose to ignore them. However, based on my discussions with some of our partner companies, I'm encouraged to see they're not seeking an alternative distribution system. They're seeking additional distribution systems. Can we blame them as our ranks dwindle, and consumers have different buying preferences, such as purchasing online? Well, we're adapting, we have e-apps, and the future has never been brighter for those seizing the opportunities. Give us a call, and you'll understand why agents from coast to coast have always referred to us as... a different experience.

If you are retiring, congratulations! I’m sure that you have earned it and I'm wishing you the happiest and healthiest of retirements from your friends at The Ohlson Group. However, if you are one of the advisors that has just had it and won't live with all these changes because things will never be the same... then you are who I want to speak to. Please allow me to comment and make an offer.
 
Call us crazy, but at the Ohlson Group, we believe that we are entering the golden age of life and annuity sales. Think about it: 10,000 people turning 65 each day, less than half of baby boomers have $100K in retirement savings and they all need our help. And our insured products are the only ones that make sense for most Americans. Also, there is less competition because many agents are retiring and some (maybe you) have just had enough, "I’m not going to take it anymore." So, for agents quitting and agencies looking for help, we have the answer. Here we go:

We at The Ohlson Group will pair you up with a successful member of The Safe Money Places Agent Network in your area. We will supervise the servicing and sales to clients in your book. Sales will be made and you will be placed on the application for a percentage of all new sales. Think about it. No one is going to pay you a lump sum for your book of business. But a member of "The Network" will drip on them, write new business, and cut you in on the sales. Great deal right?
 
What about you agency owners? You really need to call us, because we have a unique way to bring you under The Ohlson Group/Safe Money Network umbrella, where you maintain ownership while lowering your costs. We will also assist you in the recruiting efforts.
 
So for those of you reading this and are not retiring or quitting, thank you for your time and business. If you aren't writing with us... why not? Call me, let me try to close you. For those who are retiring or quitting, call us and let's make a deal.

There has never been a better time to explore membership in the Safe Money Places Agent Network.  Several years ago, The Ohlson Group purchased controlling interest in www.safemoneyplaces.com from Dr. Jack Marrion. This consumer site continues to attract thousands looking for non-biased educational material on financial tools, products and concepts. Our Agent/Advisor locator also attracts many visitors who are looking for a "Safe Money Places Pro" in their community.  Moreover, The Ohlson Group has taken this concept to a much bigger value proposition.  If you are not a member, than you need to check this out. In my opinion, you can't afford "not" to be a member. Allow me to give you an overview of this "non-franchise" opportunity and what it would cost you to replicate in time, money and manpower. Buckle up... the tour is now beginning.
 
We operate off of the principles of SCIP: Service, Credibility, integrity and Profitability. 
We have always stated that these four attributes must be there for all participants in every financial service transaction. The sale, service and marketing of life and annuity products are no different. At this point, I would like to focus on the one core element... credibility. Credibility is believability: being the "go to person" regarding your specialty in your community. But the question always gets back to "Ray, I know that, but how can I get my name out there on a limited budget with limited staff?” Well we have the answers. Because it takes a whole bunch of time money and manpower to make this effective. Let's look:
 
First off, I am going to make a statement. If you could do this on your own, you would be paying a minimum of $500-750 per month for these services. Let me get to the point: for our members, the cost to you is zero, nada, nothing. Here are a few of the benefits:
 

• Build or refresh a website that you will be proud to have visitors visit
• Continual updates and servicing of your website and this includes maintenance
• New content every month on your website. This will be a combination of video and print. You will also be supplied with white papers branded with all of your contact info

 
Distribution of this content on a monthly basis to your clients and prospects.
This is important! You spent money to obtain a lead or client. What are you doing to resurrect that prospect and upsell or cross-sell your clients? What are you giving them that would encourage them to give you referrals? Wouldn't this lower your acquisition costs? The answer is a resounding yes! You would have to get Constant Contact, Mail Chimp or some other service and would have to arrange the timetables and distribution of these pieces to your group. We do it for you!
 
Your website is branded as being a member of the Safe Money Places Agent Network.  
Landing pages are developed for you with your brand and contact info AND, all of your list gets a complimentary subscription to the critically acclaimed Safe Money News. This financial e-magazine is sent out on a quarterly basis with articles from some of the best writers in the country.
 
We offer access to consumer webinars for members of the network. This year we will be developing short webinars for your clients and prospects to attend. This will go out under your label, and they will be recorded for multiple uses and can be placed on your website.
 
Of course, you will be listed in the Safe Money Places Agent locator on www.safemoneyplaces.com.
 
For our “Producing Partner” members, we give you a quarterly allowance to help pay for your marketing, research, and education expenses.
 
In summary, there is a lot more to mention but we would rather speak with you. The DOL/Fiduciary rule has changed our business forever. DOL delay, changes or whatever, the public is aware and they research people that they are thinking of working with. They Google you, check out your website and judge you prior to meeting. We can assist with marketing, press releases, etc. for a very modest amount of business... and we do it all.

We are the family owned boutique with a great blend of young and experienced, and we need and want your business. So, what do you have to lose? Pick up the phone and give us a call to arrange a 15 minute meeting, or simply click below to arrange an appointment with one of our marketing consultants. The clock is ticking and it’s time for you to do something. Your future business just might depend on what you decide to do.