Life as an Independent Financial Adviser is not a walk in the park, especially when it comes to rejection from close friends and family members. I am taking this difficult route which seems like begging to some people. My mother would ask me,” You meet so many people, what comes out from the meetings? Anyone buy anything?” This is the typical old folk’s mindset.
I attended a close university friend’s baby shower. The next day, I sent her a whatsapp message and the conversation goes like this:
JL says,”Morning XXX, want to check with you whether have you purchased integrated medical shield plan for your son?”
GA replied,”you doing insurance ah?”
JL says,” One part of it is insurance.”
GA replied,” What you doing now?”
JL says,”Independent Financial Adviser.”
GA replied,” Oh…you doing it full time?”
JL says,” Yes, full time basis since September.”
Then you see radio silence. Any other sentences you typed is not blue ticked. Maybe I am blocked on whatsapp?
Firstly, I want to borrow a story from Heartland boy, he is a famous financial blogger. You can read the full post here. His baby suffered from a fever on day 9 and the hospital bill cost $4,500. I have a friend’s baby who was admitted around 3 months old and the hospital bill amount to around the same range. My personal story was my child was admitted to private hospital in 2018 for H1N1 virus and the total bill came up to $6,000+. I was worried shit when my wife called me that fateful evening and told me the pediatrician wanted to admit my child. I finished a teleconference with France, I frantically called my Great Eastern agent friend and asked him about my child’s policy. He reminded me that my ISP was not purchased through GE. I was like,”Ya hor…shit it is Aviva.” When something struck you (and you are not from the industry), you will feel loss. I been through that.
Why selling to friends or family is a difficult task? They want to buy and not sold. To be absolutely honest, Ms Prospect, if I sell you any Integrated Shield Plan, I will make only $10 – $20/year from the premium you pay through your Medisave. It will probably cover 4 train rides to meet you twice to first uncover your needs, explain different companies’ coverage and sign the form. My single stock counter’s dividend or an option’s income should be many times more than that?
So far, I never push for sales or corner someone to commit to a plan. My take is I recommend something which will be useful and meaningful to address your needs. If there are concerns raised, I will address them and inform my customers,” The decision is yours to make.” Some buy, some don’t. It is fine. I appreciate all those who supported me (not buying things) and gave me some air time to share. I truly believe in what I am doing is always to the best interest of my family, friends and customers.
Enough of my whining, I continue on my mission to peddle my insurance products, I try to remind myself not to keep vomiting information and words onto my prospects and make it a monologue. I need to listen to my prospects and help them uncover their needs. Listen. God gives you two ears and one mouth for a good reason. You can talk to me, I don’t need to push sales, I am here to serve.