Insurance Agencies Are Missing Out On Millions
Is it true that Insurance Agencies are supposed to provide beneficial products and services that their clients need and deserve? Insurance agencies have been around for hundreds of years providing many forms of insurance plans and policies that are greatly needed. However, there is a huge $15 to $25 billion available market ready for insurance agencies, agents, and any professional sales person to jump in and take advantage of this huge opportunity. As I see it, there are not many agencies providing these beneficial products and services to their clients. If this is truly the case, whose interest are these agencies really looking out for—it seems not the client’s interest. The bottom-line is consumers need these products and services so why aren’t the agencies providing the services at neck-breaking speed.
Who Really Is The Financial Advisor?
Most advisors are really just salespersons. Sometimes it’s hard to tell, given all the titles used by brokers: financial adviser, financial consultant and financial planner, to name just a few.
Many of these sound quite similar to “investment adviser” but there’s a big difference. Investment advisers, unlike brokers, have a fiduciary duty to their clients. That means they have a legal obligation to place the client’s interests ahead of their own, and to clearly identify all sources of compensation, the amount of compensation and any potential conflicts of interest.”
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