Generalist or Specialist?

[shooter]

Who would you think could make the most money?
Plus enjoy the work.
Someone that sales Life, annuities, Medicare supp, Di and other products.
Or a person that specializes in one market or product type?

We all love do overs, so if you started over today, which products or markets
would you work in?
I'm leaning toward annuities, following the Tom Hegna pattern.
Looking for thoughts from other deep thinkers, and doers.

One market I'm totally not into is final expense.
Shooter

 

[WinoBlues]

Following.

I think, based on my 'build and work a book' mentality.... MedSupps / Life

 

[rousemark]

Who would you think could make the most money?
Plus enjoy the work.
Someone that sales Life, annuities, Medicare supp, Di and other products.
Or a person that specializes in one market or product type?

We all love do overs, so if you started over today, which products or markets
would you work in?
I'm leaning toward annuities, following the Tom Hegna pattern.
Looking for thoughts from other deep thinkers, and doers.

One market I'm totally not into is final expense.
Shooter

Most top earners are specialists.

 

[Lloyds of Lubbock]

I would concentrate on disability.
Individual and group.

 

[LostDollar]

This is in general insurance agent discussions so I think P&C agents should post too in order to provide balanced discussion.

Say "Low Income ACA" vs "Low Income Medicare Advantage" vs "Low Income Auto Liability".

 

[WinoBlues]

Following.

I think, based on my 'build and work a book' mentality.... MedSupps / Life

.
And my core age group would be 55-65

 

[LostDollar]

.
And my core age group would be 55-65

Caveat, not an agent.

Your post above said MedSupps/Life.

Particularly with that product order
And needing Part B for Medigap
And Soc Sec FRA age going up to age 67

I would think 65 would be a bit low for the top end of the age group. It seems like 67-68 would be better.

 

[DHK]

We all love do overs, so if you started over today, which products or markets
would you work in?

There are some markets and concepts that agents need more education and experience to really do well. So I can't "start over" from day 1 and expect to do what I'm doing.

However, I can always pivot my message.

I have rebranded myself as "The Tax-Exempt Wealth Guy!" and I focus on working with business owners on how to utilize the tax code for more optimal outcomes including leveraging life insurance.
- Tax-Exempt Retirement
- Largely tax-exempt retirement (using NQ SPIAs for those who are uninsurable)
- Executive benefits
- Tax-Exempt sale of a business using ESOPs
- PPLI

Can I say I'm a specialist in all these areas? No, but I know who to work with to deliver on what I say I can.

In addition to the above, doing a more broad planning and analysis approach for business owners including business valuation, buy-sell funding, and business loan cancellation strategies.

Business owners are everywhere. These are their priorities. Some I'll do directly myself. Others I'll do joint work. Others I'll partner with a PEO and just collect a relationship referral fee.

 

[rousemark]

There are some markets and concepts that agents need more education and experience to really do well. So I can't "start over" from day 1 and expect to do what I'm doing.

However, I can always pivot my message.

I have rebranded myself as "The Tax-Exempt Wealth Guy!" and I focus on working with business owners on how to utilize the tax code for more optimal outcomes including leveraging life insurance.
- Tax-Exempt Retirement
- Largely tax-exempt retirement (using NQ SPIAs for those who are uninsurable)
- Executive benefits
- Tax-Exempt sale of a business using ESOPs
- PPLI

Can I say I'm a specialist in all these areas? No, but I know who to work with to deliver on what I say I can.

In addition to the above, doing a more broad planning and analysis approach for business owners including business valuation, buy-sell funding, and business loan cancellation strategies.

Business owners are everywhere. These are their priorities. Some I'll do directly myself. Others I'll do joint work. Others I'll partner with a PEO and just collect a relationship referral fee.

View attachment 13141

There is a difference in public perception in being a "specialist" and specializing in an area.

 

[shooter]

I would concentrate on disability.
Individual and group.

Interesting take Lloyds.
So your marketing would be DI based?

I am surprised that wasn't much interest in annuities only.
Especially with some much money in 401k's, and IRA's.
Thanks for the insights everyone.