The Importance of Annual Reviews

Now is a great time to start setting up your client annual reviews. Not only are they a great way to stay top-of-mind with clients, but these appointments also create opportunities to ask your best clients for referrals and cross sell life insurance to them.

Think about it. Isn’t it easier to ask clients who enjoy working with you—and probably have for years—to pass your name, services and a good word on to their friends? Most likely they’re in your target audience and would trust their friends’ endorsement of you.

Along with new opportunities for growth, the annual review is one of the best tools you have as an advisor to go back and uncover any money that may be left on the table. These reviews also help build loyal relationships with clients.

As for your clients, they need to review policies they currently have because they may have experienced a life event—birth, divorce, new job—and they could potentially need to adjust their beneficiaries or get a new policy altogether to match up.

Here are five questions to get the conversation going with your clients:

  1. Is your retirement income strategy on track?
  2. Is your strategy the most tax-efficient it can be?
  3. Are you protecting your retirement income from market volatility?
  4. When was the last time you looked at your estate plan?
  5. Life changes constantly; do any of the recent changes affect your family’s financial future?

In light of the Department of Labor (DOL) finalizing the fiduciary rule, the truth is the better you know your clients, the better it is for you in the long run, making annual reviews a must.

Want more tips on how to make the best of your annual reviews? Give us a call at 800.992.2642 today and let’s get the conversation going!


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