Stop Selling Insurance; Start Providing Dignity

Advisors do more than sell insurance; they help clients maintain their dignity for the rest of their lives.

That was the word from Shane Westhoelter, founder of Gateway Financial Advisors in Albuquerque, N.M. Westhoelter spoke Tuesday morning during the Million Dollar Round Table’s virtual annual meeting.

Advisors provide numerous ways for clients to maintain their dignity, Westhoelter said. Advisors build the client’s financial house with insurance as its foundation. With a stroke of a pen, advisors can help clients create wealth. Advisors help clients take the “if” out of life.

“We’re here to provide protection and help people when they need it most,” he said.

In order to quality for MDRT’s Top of the Table, Westhoelter said, advisors must have three qualities:

1. The ability to give up in order to go up.
2. Passion
3. The ability to be referable.

Advisors have a number of questions they must ask themselves in figuring out what they must give up in order to go up, Westhoelter said. Those questions include:

• How efficient are your systems?
• Is it about you or about moving forward?

In giving up to go up, advisors must remember:

• Activity does not equal results.
• What got you here might not get you there.
• Are you doing things you do not need to do?
• Do you work on your business or just in your business?
• Are you running your practice or is it running you?
• Do you have a plan or are you just reacting?

Westhoelter said that all advisors must have MIB – Marketing, Identity, Brand. When developing their marketing plan, advisors must answer the following questions:

• Do you have a real plan?
• Do you have a budget for marketing?
• Do you have a focused market?
• Do you know the demographics?
• Do you have a marketing person?

Identity is the qualities and beliefs that make you different from others, Westhoelter said. “If I asked your clients what you do – what would they say?” he asked. “If I asked them what makes you unique – what would they say?”

Branding and marketing are two different things, Westhoelter said. Marketing sends out information while branding creates a purpose, he noted.

In addition, Westhoelter told attendees to stop selling and start sharing. Selling is all about products, he said, while sharing is all about telling a story.

“It’s time to stop selling insurance and start providing dignity to clients,” he said.

Susan Rupe is managing editor for InsuranceNewsNet. She formerly served as communications director for an insurance agents' association and was an award-winning newspaper reporter and editor. Contact her at [email protected]. Follow her on Twitter @INNsusan.

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