The most common question independent advisors and insurance agents face is "How do I choose my target audience when trying generate qualified annuity leads"?
Ideally, every financial advisor wants to sit down with a client that has at least a six figure account that is
able to be re-invested. Nine times out of 10, these types of potential clients already have an advisor and are already taken care of.
Choose an audience that is middle of the road
. The truth of the matter is, choosing a more “baby blue collar” audience that has an estimated annual income of $50,000-$60,000 per year as opposed to a white collar audience will help generate the end result you are looking for in terms of building relationships and sales.
Middle income families often do not have a trusted advisor that handles their finances. Most families rely on their employer to handle their retirement accounts
, and do not have the luxury of sitting down with an advisor
to understand their retirement statements.
In addition, when purchasing a consumer list from a data company, I suggest an audience that is between the ages of 58-78. Consumers closer to 60 years old are more likely to have an IRA coming due and staying below the age of 80 will keep you clear of suitability issues that usually occur when dealing with fixed annuity products
Lastly, when choosing your mailing list, choose an area that is more rural as opposed to a list of consumers that reside in a city or metropolitan area. Rural areas tend to have fewer banks and fewer advisors which mean more opportunities for you the agent.
Hopefully the above information will help you make the right choices the next time you purchase a consumer list for generating new annuity leads and investment leads.