Details

Autor(en) / Beteiligte

• Stevens, James H

Titel

Is Financial Planning the Wave of the Future?

Ist Teil von

• National underwriter (Life, health/financial services ed.), 1983-09, Vol.87 (39), p.46

Auflage

Life, health/financial services ed.

Ort / Verlag

Erlanger: ALM Media Properties, LLC

Erscheinungsjahr

1983

Beschreibungen/Notizen

• New England Life (Kansas City, Missouri), a financial planning company, generates fees that are about 20% of its gross income; related product sales account for an additional 25%. The company decided to pursue the development of a financial planning practice as a major part of its marketing strategy 2 1/2 years ago because of changes occurring in the insurance industry. Inflation was increasing the cost of doing business, while such things as lower premiums, low-cost term insurance, and new products with lower commissions put an economic strain on the agent. Other agents and companies will soon add financial counseling services to their marketing strategies as well. Financial planning is labor intensive - it requires interviews, analysis, and careful presentation. Financial planning is more than collecting data; it is formulating a plan.