How financial advisors can make the most of the summer slump
Brian Haney, founder, CEO of The Haney Company, said that over the years, he has come to relish the “down times” in his practice when volume is reduced, and when there’s a bit more margin on his calendar. He realizes that great practices cannot always go a mile a minute; so, they work to use this time wisely.
Haney and his team have used the following ways to continue to improve and grow:
Summer slump: A time for creative prospecting
While it’s true that the summer slump can present some challenges for traditional networking, savvy salespeople can use this time to build relationships with existing clients and take advantage of creative prospecting opportunities, said John Pojeta, vice president of business development at The PT Services Group.
- An hour-long group lesson with a golf pro at a local country club
- A wine tasting and tour at a local vineyard
- A box at an MLB or minor-league baseball game
- A meet-and-greet event with an artist at a local gallery
- A special class with a dog trainer or pet nutritionist
Embrace the downtime
Because Combs & Company is a full-service brokerage firm, the company doesn't experience a summer slump, said Susan L. Combs, the organization’s president and CEO. Although newer agents tend to “freak out” with the downtime, Combs would encourage them to embrace it, since there are many 60-80 hour weeks that they need to have surplus in their “downtime bank” so that they can power through.
Ayo Mseka has more than 30 years of experience reporting on the financial services industry. She formerly served as editor-in-chief of NAIFA’s Advisor Today magazine. Contact her at [email protected].
© Entire contents copyright 2023 by InsuranceNewsNet.com Inc. All rights reserved. No part of this article may be reprinted without the expressed written consent from InsuranceNewsNet.com.
Ayo Mseka has more than 30 years of experience reporting on the financial services industry. She formerly served as editor-in-chief of NAIFA’s Advisor Today magazine. Contact her at [email protected].
Insurtech Lemonade sets record on claims processing, but not on profit
Inheritors likely to keep family advisor if relationship established early
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News