Do You Have a Hot-list?

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Here at TWH, we have a hot-list of advisers that are not currently selling through our company.

These are agents that we have met, spoken with, and gotten to know—either a little, or a lot—but for various reasons, they have not yet started using our company for their annuity, life, ltc, and other cases.

Why do we do this?

Because, prioritizing leads to success.

We have identified an interest in the each of the advisers on the hot-list …a motivation to move to a new marketing company…and the reason why they want to start writing business through our marketing company.  We have also identified that these are the types of advisers we very much enjoy working with.  Honest, friendly, ethical, very good with people/clients, and willing to let us help with their sales and cases.

Do YOU have a hot-list?  If not…why not?

Every adviser needs to have a list of potential new clients that you think are the most likely people to become new clients in the near future.

These are the people that you send birthday cards to, or might follow on social media.  Maybe you send texts or e-mails about financial developments you know they are interested in, or hobbies you know they enjoy.

In other words; You drip-market to these people in a more hands-on way than other potential clients. Why?  Because, you know these people will eventually start doing business with some adviser, someday, some how, for some reason.  And, you know that if you keep yourself on their minds, they will likely choose you once they need to make some financial changes.  Give us a call, and we can show you ways to create your hot-list, and how to cultivate and nourish it.

Are You Checking The Renewal History when Choosing an Annuity Carrier?

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We started paying much closer attention to this about 18 months ago.  Why?  Because one of the carriers who had a very strong history of NOT lowering crediting method caps changed their policy on the matter, and they dropped participation rates 11% at the first anniversary of the annuity contracts.  Imagine how upset the clients were with their advisers when they saw that their participation rate dropped from 50% to 39% in just one year.  Next, imagine how upset those advisers were with us at TWH for recommending that carrier and annuity.

Today, we carefully monitor how companies handle renewal rates as a policy, and as a practice.  And, we want you to know that we will ALWAYS factor this into every case design we work on.  There are a number of carriers that we currently do not feel comfortable recommending because of their poor renewal rate history.  And, there are others that we recommend strongly based on their proven continued high renewal rates.  But, here’s where it gets tricky…

The company with the best crediting percentages up-front are often the ones that will drop their renewal rates drastically in years to come.  This makes it our job to help everyone understand why the best annuity may not have the best rate at the start, but will produce much more growth over time.  Our close ties and long history with all the carriers give us the ability to help our advisers ALWAYS know which products are best.

~ Greg Skogsberg

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