200 clients the max: Moore

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Advisers should regularly prune their client bases and focus on the high value ones.

Thursday, February 20th 2014, 8:11AM 1 Comment

Mike Moore, who runs a business facilitating sales of advisory firms, reckons a good life insurance adviser should have a maximum of 200 clients.

He told the Newpark development day in Auckland yesterday that running a business is a bit like owning a home and doing a refurbishment every now and then.

Advisers should focus on their high value, A clients.

“Your B, C and D clients are someone else’s A,” he said.

Selling these clients makes sense, as they will receive good service from the new adviser.

“Clients will be overwhelmed with the service they receive,” he says. Also the life companies will be happy that these people are being looked after.

And for the adviser selling can help them capitalise on some of the work they have done over the years.

“There is an adviser for every client, and client for every adviser,” he said.

Moore also suggested advisers need to be more collegial in the way they deal with each other.

If an adviser is leaving the industry and selling their business they will want the best price.

However advisers remaining in the business but rationalising their client base will be enhancing others advisers. This, he says, helps enhance the industry and gives colleagues future opportunities.

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