On this episode of The Get Ready Money Podcast, I spoke with Derek Notman, Adam Holt and Dick Weber about changing the way we think about life insurance agent training, retention and compensation.
In this episode we discussed:
- Why life insurance agents struggle to succeed.
- The compensation structure is at the heart of the issue and needs to be revamped.
- Very few agents are taught to sell, rather than to service.
- Consumers need a fiduciary advisor to tell them what insurance they have.
- Advisors need to facilitate the conversation.
- We are in a people business and we need technology that facilitates great human connection.
Connect with Adam Holt:
- Websites: (Asset Map) (Rubin Goldman and Associates)
- LinkedIn: (here)
Connect with Derek Notman:
Connect with Dick Weber:
Podcast:
Bios:
H. Adam Holt, CFP, ChFC is the CEO and Founder of Asset Map. Adam has been a financial advisor for over 25 years, during which time he has helped build and manage his wealth management firm to over $1.2B in assets under management. Adam is known for his early adoption of technology to build trend-setting client experiences. This mindset led him to found Asset-Map, a financial technology firm dedicated to creating engaging visual communication tools used throughout the customer and advisor journey and now used by thousands of advisors worldwide and over 1M consumers. Adam is also the co-host of Rethink the Financial Advisor Podcast
Derek Notman is a the Founder & CEO of Couplr AI. Using data science and flip-flop-inspired thinking, we're tackling client acquisition & orphan client problems in the investment and insurance industries. Derek is the co-host of Rethink Financial Advice Podcast: We question everything about financial advice, because sometimes the best way to fix things is to laugh at them first.
Richard M. Weber, MBA, CLU®, AEP® (Distinguished) is an Insurance Fiduciary® providing fee-only life insurance expertise to individuals, families and businesses seeking to make smart decisions about buying and managing their life insurance assets. Dick was the 2012-2013 President of the Society of FSP. A 58-year veteran of the life insurance industry, he has been a successful agent, an insurance company executive, and now is one of just a handful of fee-only insurance experts in the U.S. Author of more than 350 articles encompassing products, sales practices, and the due diligence necessary to buy and place insurance and annuities. Dick currently serves as a Consumer Representative to the NAIC and is a member of the Standards Resource Commission of the CFP Board.
The Get Ready Money Podcast and its guests do not provide investment advice. All content is for educational purposes. Guest opinions do not necessarily reflect the opinions of The Get Ready Money Podcast and Tony Steuer.
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