Скачать или смотреть Client Retention Strategies for Financial Advisors | How to Keep a High Persistency Rate

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It is important to learn effective client retention strategies for financial advisors in order to maintain a high retention rate and “retain the fruits of your labor” by avoiding lapses.

A financial advisor retention rate otherwise known as a persistency rate is a key indicator of the quality of a financial advisor’s business. The retention or persistency rate is a measure of the annualized premium inflows against annualized premium outflows measured as a percentage.
Most insurance companies consider a financial advisor client retention rate of 80% plus to be an indicator of good quality business.

As consumers face increasing financial pressure, the tendency for clients to miss paying their insurance premiums or even cancel their insurance policies is becoming more prevalent.

This is a cause for concern if you are a financial advisor who earns upfront commission as you may have to absorb commission claw-backs due to lapses.

Watch this video to the end as we talk about effective client retention strategies for financial advisors in order to avoid getting lapses and keep your retention or persistency rate high.

Chapters:

00:15 - Intro
01:41 - Sibongile's intro
02:01 - What do you enjoy most about the career of a Financial Advisor?
02:37 - What is the key to keeping a high retention or persistency rate?
04:25 - How do you deal with cases where clients have missed premiums?
05:26 - How do you help clients ensure that they prioritize paying their insurance premiums?
08:16 - What gives you the confidence to be able to have honest conversations with clients?
09:13 - What other tactics have helped you to ensure that your clients keep paying their premiums?
10:45 - Are there any other steps that you implement when you are faced with clients who may have affordability issues?
12:49 - What advice would you give a Financial Advisor who is struggling with lapses?
14:51 - What gives you the confidence not to be desperate for business?
18:51 - Closing
19:33 - Outro

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Music Used in this Video:

Song: Inspire
Music: Bensound.com/free-music-for-videos
License code: 2F1T0XBD7A855L80
License Type: Free License

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DISCLAIMER

I am not a financial advisor. The content in this YouTube channel is only for educational purposes and should not be taken for financial advice. You and only you are responsible for your financial decisions and must therefore conduct your own research and seek the advice of a licensed financial advisor if necessary.

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