When Your Prospect Says, ‘I Have No Money’ by Bryce Sanders - ThinkAdvisor
As an insurance professional, you are in the business of helping people. It’s often been said you sell peace of mind. How many times have you heard a prospect say, “I have no money.” Does that mean you can’t help them? Of course not!
Insurance agents have an unexpected advantage over financial advisors. You can start a relationship based on premiums or investments made from monthly cash flow.
Financial advisors are often looking for pools of money. Once people have put away a substantial amount, they can help the person invest it better.
Many financial services firms have tiered levels of service. Smaller accounts are handled by a central department by phone (or an online relationship). The local financial advisor often has a certain threshold as a minimum account size.
