How to create lifetime clients in insurance

Being too eager with lifestyle financial planning questions cost me some potential clients early in my career. The questions themselves weren't the problem. They were very good ones I'd learnt from Mitch Anthony and George Kinder. I think I got the timing (horribly) wrong. Some prospects wouldn't come back to me (ghosted me), even after multiple follow ups. In retrospect: I think it was way too early in the relationship for some of those questions. The client wanted to see a financial planner (an investments and insurance fundi) and instead got a young pseudo (bad) psychologist/counsellor they didn't know, asking them a lot of quite personal questions. Whoops. Bad first impression. I believe a better approach is to establish what made them come to see you. What issues or problems they are wrestling with. Establish trust through delivering excellent service and working hard to solve their issues or problems. In the process and throughout incrementally get to know the person you're dealing with. Take an active interest in who they and their family are, where they come from and where they want to go. Make sure that their goals and dreams and individual preferences are incorporated in the planning wherever possible. It may also help you to identify issues or potential issues they are unaware of. This industry is very much about the person in front of you rather than their policies or investments.

Want to win high-net-worth clients? Stop leading with investments. Most advisors walk into a prospect meeting and start with their portfolio strategy, risk management, or performance metrics. That’s a mistake. Clients, especially affluent ones, want the non-investment areas of their life handled first. ✔ Do I have the right amount and types of insurance? ✔ What happens if I die suddenly? ✔ Will my kids be okay? ✔ How do I protect my assets from lawsuits or taxes? ✔ Is there a plan if my spouse gets sick tomorrow? These are personal concerns. Emotional ones. When you solve those problems, you earn real trust. And once you have their trust, turning over the investment portfolio isn’t a big leap. It’s the natural next step. I built a 7-figure firm by doing things differently. I didn’t walk in the door as a portfolio manager. I walked in as a life architect. I positioned everything around their values, their family, and their fears. Not the market. Not performance. That’s what separates trusted advisors from transactional ones. So ask yourself today. Are you trying to impress clients with performance? Or are you connecting with what actually matters to them? Focus on the real priorities. The rest will follow. — Erin Botsford, The Advisor Authority™

A great question was posed at last week's Business Development Masterclass with Prof. Joe O'Mahoney, Steve Abramson and Mark Palmer about building long-term relationships with potential and existing clients. It got me thinking about what I have learned during my career... In professional services, where trust and credibility are valuable currencies, the real game-changer is not just landing the next big deal but cultivating relationships that stand the test of time.  Key things that I have learned and experienced include: 1️⃣ Invest in Understanding, Not Just Selling Sales is not about pushing services; it’s about solving problems. Take time to deeply understand clients' pain points, their aspirations, and the nuances of their industry. This knowledge allows you to tailor your offer, demonstrate genuine care, and position yourself as a trusted advisor—not just another service provider. 2️⃣ Consistency is Your Secret Weapon Consistency builds trust. Regular touchpoints, even when there’s no immediate sale on the horizon, keep you top of mind. This can be as simple as sharing relevant insights, checking in with a quick message, or offering support during a challenging time. Show up, and show up consistently. 3️⃣ Add Value Beyond the Contract To build long-term relationships, go beyond the scope of what you are there to do. Share industry trends, connect clients with valuable contacts, and offer insights without expecting anything in return. These small acts create a lasting impact and reinforce your commitment to their success, not just your own. 4️⃣ Listen More Than You Talk Too often, people are focused on what they need to say. The best relationship-builders flip this script—they ask questions, listen actively, and make clients feel heard. This approach uncovers hidden opportunities, fosters loyalty, and sets you apart in a crowded market. 5️⃣ Play the Long Game, Not the Short One Focus on lifetime value, not just immediate wins. When you nurture relationships with a long-term mindset, you cultivate advocates who will come back to you and refer you to others. This approach builds a sustainable pipeline of opportunities that no amount of cold calling can replicate. Long-term relationships aren’t built overnight, but they are worth every effort. They differentiate you in a market flooded with short-term sales tactics and create a ripple effect of trust, credibility, and growth. So, invest in people, prioritise value, and remember: it’s not just business—it’s personal. What would you add to the list? #SalesSuccess #BusinessDevelopment #ProfessionalServices #RelationshipBuilding #ClientSuccess #LongTermGrowth #payforward

In insurance (any business) it's easy to get caught up in the numbers closing the deal, hitting quotas, moving to the next sale But one thing is clear: relationships always win over transactions I’ve seen agents chase quick wins like pushing policies that might not be the best fit, undercutting on price just to close a deal, or treating clients like a one-and-done sale. This happens quite a bit as well when transitioning from captive to independent, or purchasing leads for the first time The problem? Those clients don’t stick around. They’re not loyal. They’ll switch the moment someone else offers a better deal On the other hand, when you invest in building trust, educating clients, and genuinely looking out for their best interests, something different happens: Clients stay with you longer They refer their friends and family They reach out for advice, not just a transaction Ever had a client tell you that they are staying with you even though they don't love the price? They trust you because you actually took your time to explain what they are getting? So here’s my advice Don’t just sell - serve Take the time to know your clients, understand needs beyond price, and position yourself as the expert professional Short-term wins look good on a leaderboard, but long-term relationships are what build a business that lasts

I've built three successful practices by changing the client relationship model. (Industry standard focuses on annual renewals and quarterly check-ins) The partnership approach that changed my life: 1. Engage strategically year-round → Monitor market conditions continuously → Track emerging trends proactively → Share insights regularly → Plan long-term systematically 2. Solve future problems today → Anticipate market changes → Prepare for industry shifts → Build flexible solutions → Create multiple options for each client 3. Focus on lasting impact → Develop multi-year strategies → Build program resilience → Create institutional knowledge → Strengthen market relationships Partnership results: 95% client retention Stronger market positions Better claim outcomes Continuous program improvement Strategic partnership beats transactional relationships. Long-term focus creates compound benefits. Real value grows over time. How do you build lasting client partnerships? ♻️ P.S. Repost to inspire relationship-focused service.