 
By Jeff Fleming, JD, CFP, CLU, ChFC, AEP,
NAIFA YAT Chair
Advisors serving long enough in the insurance
and financial services industry will surely experience moments with
clients that have an impact on their careers. One such experience
came for me when a client unexpectedly said that our professional
relationship made a real difference in his family’s life.
That moment will live with me forever, and his statement continues
to stir my passion for this incredible industry and the invaluable
work we do.
As this year’s chair for NAIFA’s Young
Advisors Team (YAT), I truly believe we have an incredible opportunity
to make a dramatic difference in the professional lives of our young
and new advisors. LIMRA statistics show that 87 percent of the advisors
who start in the business are out within four years. YAT’s
mission is to serve NAIFA’s young advisors by providing the
tools and resources to succeed in the financial services industry.
Without question, our mission is also important
to NAIFA whose future is dependent on the success of our young advisors
today. According to a recent statistics, the average age of life
insurance advisors in the United States is 54, up from age 38 in
1978. If the overall advisor population is aging, it is reasonable
to conclude that NAIFA’s membership is aging at the same rate.
The aging of the advisor population, combined with the ongoing membership
challenges facing NAIFA, make it clear that reaching out to young
advisors is crucial to our association’s survival and growth.
By providing young advisors with the tools and resources needed
to succeed, YAT will attract more young members to NAIFA, thus increasing
overall membership.
|
| We
are building a YAT database of valuable information like sales
ideas, success stories and YAT programs to make it easier
to share these resources with the federation. |
|
I highly encourage you to visit the Leaders Resource
Center on NAIFA’s website where you will find a listing of
YAT’s current tools and resources. Sign up for theYAT listserv
that enables young NAIFA members to communicate sales ideas and
success stories with one another. Want to start a YAT group or host
a YAT networking event? Download a one-pager from the site that
summarizes what you need to do and makes the process much easier.
YAT has achieved much in its short history, but
we remain hard at work developing new resources and benefits. In
conjunction with Advisor Today, this article launches an
email-based monthly publication titled Advisor Today’s
YAT Chat, which will discuss issues pertinent to young advisors
such as YAT resources, success stories and networking events conducted
throughout the federation. NAIFA is developing new Programs in a
Box with topics that would greatly benefit young advisors, such
as Surviving the First Three Years in the Business, Prospecting
101 and Overcoming Objections. We are building a YAT database of
valuable information like sales ideas, success stories and YAT programs
to make it easier to share these resources with the federation.
The YAT events conducted at NAIFA’s convention
in Las Vegas created quite a buzz. They included the YAT Fear Factor,
a Meet and Greet, an offsite happy hour, and a YAT breakout session
titled “How to Have Your Best Year Every Year,” which
over 100 members attended. We are in the midst of planning some
incredible new YAT activities for NAIFA’s 2005 convention
in Baltimore as well, such as a legislative reception featuring
a speaker talking about the importance of advocacy. Young advisors
are encouraged to participate in the Day on the Hill, and we hope
to create a mentor program for those who may find the process intimidating.
You do not want to miss it, so plan now to attend.
YAT will make a substantial difference in the
careers of our young advisors, and I feel incredibly privileged
to serve as this year’s chair.
Jeff Fleming, JD, CFP, CLU, ChFC, AEP is the
current chairman of the Young Advisor’s Team. You can contact
him at Jeff@LawandMoneyMatters.com.
December 2004
Focus on the Fundamentals
YAT Spotlight: Mike
Bennetti, LUTCF
Impacting Lives
The Financial Advisor’s
12-Month Guide to Success
|
