The recruiting methods used by independent broker-dealers are the worst in the industry. They want to sell their products through independent top brokers. Find out why they are so narrowly focused and how to change their strategy. Attempts to recruit insurance producers who already hold a series 6, 63 licenses are met with resistance from these independent Broker-Dealers with broker dealer license. They believe that those without contracts will approach them. Wow! How much further off the mark can their thinking possibly be? Their recruitment success is turned upside down as a result. Independent Broker-Dealers' marketing and recruiting directors have very little recruiting experience or are completely unaware of profitable strategies for expanding recruiting opportunities. Insurance and financial publications are their first port of call for new producers.
The full-page advertisements promote themselves and gain peer recognition. Quality is - variable contact insurance agents show very little interest in inquiries, making them ineffective. Using a myth and avoiding the insurance agents they really need is another method of recruiting. It is a big lie to think that all good variable contract life agents have already joined other captive or independent broker-dealers with broker dealer license requirements. As a result, their reasoning holds that the recruiting efforts and costs implemented here would not yield a profit. The decision was made to target only agents without a valid VC license. However, these insurance agents would need the appropriate NASD license before they could even write a case. When an agent is persuaded to enter unfamiliar waters, only a small number are rescued.It is a waste of money to pursue these few brokers. Numerous independent broker-dealers provide upfront cash incentives for joining their organization.
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