Insurance advisers should take some tips from other industries when it comes to investing in their own practices, Partners Life's managing director says.
Naomi Ballantyne said advisers needed to spend more time and money investing in building up their businesses as well as simply giving advice.
She said advisers needed more sustainable business ownership skills.
“Too many advisers still see themselves as sales people and don’t therefore invest money, time or thought into building their businesses,” she said. “They see their client base as their sole asset, rather than understanding the value of their entire businesses – processes, systems, brand, commercial offices, referral partners, skilled staff, passive renewal income…”
She said advisers also needed to find a better way to educate consumers about the risks they face, and the financial consequences of those...MORE»
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