InsuranceNewsNet Magazine March 2010 : Page 19
VERYBODY WANTS E VERYBODY WANTS TO KNOW THE BIG CASE HUNTERS’ SECRETS. Where can they find the high-net- worth clients? How can they sell the jumbo cases? What are the surefire closers? But as any big case hunter would tell you, it is not as simple as knowing techniques. It involves not only being in the right place at the right time but also being the right person. That does not happen without preparation. One of the elements of these prof i les is education. These folks know their stuf f. Some have several degrees and designations so they can be the best resource for their clients. When they say something, you can take it straight to the bank. Literally. Another piece is integrity. More than once these producers have said they are successful because they deliver what they say they will when they say they will. That was true when the titans of the industry said it, and that will always be true. The third part is relationships. Of course, that is built upon the previous two points. People need to know you as someone whose promises and knowl- edge can be depended on. It takes years of proving yourself every day. Luck is what happens when prep- arat ion meets oppor tunity. The Roman dramatist Seneca wrote that, and our featured producers continue to prove it. Not all these folks go after the big cases. Some want to serve as many people as possible and bring in hun- dreds of clients. It is a different kind of success. But be assured that the big cases are here. You will read the stories of a $100 million life insurance case and a $1 million annuity plan. And certainly those are big numbers. But to these professionals, they are just numbers. The real reward is being the solution to their clients’ problems. Michael Weintraub, CLU President and CEO of Contemporary Pensions & Insur- ance Services, Walnut Creek, Calif. MDRT: Past chairman of Top of the Table and past president of the MDRT Foun- dation; 34-year member with 13 Tops of the Table and two Courts of the Table W hen MikeWeintraub puts a foot in the door, it usually opens. That’s because it is not his own foot but a CPA’s. With a recommendation from an accountant, Contemporary Pensions & Insurance almost always gets the busi- ness client for retirement planning and other services. “If your CPA tells you to deal with us for your retirement plans, guess where “It’s not a one-size-fits-all kind of thing, and because of that we’re able to develop a lot of confidencewith the cli- ents,”Weintraub says. “And that puts us in a better position to get the big-ticket life insurance sales.” It starts with a technique Weintraub says he picked up from MDRT meet- ings: the power referral. “This is somebody who has signifi- cant inf luence over the client. I call these people client influencers rather than referral sources,” Weintraub says. “It’s usually either a lawyer or an accountant. There’s nothing better than that.” Weintraub says the relationship with the client influencers is mostly profes- sional courtesy. He does not share rev- enue with them but sends gifts after the first successful client referral. “We send them a Vermont Teddy Bear,” Weintraub says. “It’s a teddy bear wearing a three-piece suit and holding a little calculator. Now, you wouldn’t think these CPAs have a sense “I would recommend that young producers find out what really turns their crank, what really gets them going. Learn that specific field, and things will take off.” you’re going to go?”Weintraub asks. “I really have tomess things up not to get a case that was referred to us by a CPA.” From there he solves problems and saves time for small companies. “A typical small-business owner has maybe seven or eight vendors provid- ing different financial service products, from group insurance to retirement plans, payroll, human resources, work- ers’ comp and other things,”Weintraub says. “We are able to go in, become the single source for customers and meet all their needs.” And not only does Weintraub get the business of fulfilling the company’s needs but he also establishes a relation- shipwith the employees, which leads to other opportunities. of humor. But these guys call and say, ‘I can’t believe I just got this fabulous gift from you.’ And when you go to their offices, they usually have it in a pretty prominent place. Every time they look at it, they think about the kind of work we do.” It’s the attention to detail that builds solid, long-lasting relationships. In fact, relationship-building with a CPA and meeting an ensuing referral eventu- ally led to one of Weintraub’s biggest cases. “About 12 years ago, I got the largest case I had ever worked on in my career up to that time. Itwas insuring a guy for $100million,” Weintraub says. “The pre- mium was several million, and we’re in competition with the entireworld. Itwas Continued >> E VERYBOD
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