I am a one-person agency focused on employee benefits. I work with employers from 10 to 100 employees.
80% of my business is group benefits, and 20% is life, disability, annuities.
I am reasonably convinced that the small group market is not going to survive beyond the next 10 years. If it does survive, it will likely be a mess with all the different funding models and individual plans.
As of right now, my plan is to maintain my client base, and only take referrals moving forward. I would like to start focusing on a different area while I still have the luxury of renewal income from my group clients. I would like to remain independent and focus on something that will be viable for the next 30-40 years. I don't want to focus on life and annuities, because I personally find it to be a tough sales process.
What are your thoughts on these different avenues:
1. Commercial Insurance (P&C)
2. 401(k)
3. Financial Planning (RIA)
4. Sell my book of business and work for a national brokerage selling mid market benefits+commercial
5. Any ideas outside of what I've listed that I should consider? Doesn't have to be insurance
80% of my business is group benefits, and 20% is life, disability, annuities.
I am reasonably convinced that the small group market is not going to survive beyond the next 10 years. If it does survive, it will likely be a mess with all the different funding models and individual plans.
As of right now, my plan is to maintain my client base, and only take referrals moving forward. I would like to start focusing on a different area while I still have the luxury of renewal income from my group clients. I would like to remain independent and focus on something that will be viable for the next 30-40 years. I don't want to focus on life and annuities, because I personally find it to be a tough sales process.
What are your thoughts on these different avenues:
1. Commercial Insurance (P&C)
2. 401(k)
3. Financial Planning (RIA)
4. Sell my book of business and work for a national brokerage selling mid market benefits+commercial
5. Any ideas outside of what I've listed that I should consider? Doesn't have to be insurance