Watch A MDRT Member, Padrick, Open Investment Cases With 360-HappiU®
Editor’s note: Padrick is an accomplished financial advisor who qualified for Million Dollar Round Table (MDRT). He uses a scoring system called 360-HappiU® to help customers self- discover their financial future and embark on their investment journey.
Share with us your career achievements so far?
I achieved Million Dollar Round Table (MDRT) last year. This means that I am among the top 10% in the financial advisory industry.
Congratulations! Now that you have marked a milestone for yourself, what’s the next sales challenge you want to overcome?
My biggest challenge is to help my prospects see the value in meeting up with me! In this day and age, people tend to think you have an agenda, even if they are your clients ….
How A Financial Advisor, Wendy Get Customers Acknowledge & Tackle Their Financial Challenges
Editor’s note: Wendy is a financial advisor with three years of experience. She uses a scoring system called 360-HappiU to get customers to acknowledge and tackle their financial challenges.
How long have you been a financial advisor?
I joined at the height of the COVID-19 pandemic. I left my corporate job and became a financial advisor because I wanted to be on the ground to interact and help.
Do you use the financial satisfaction scoring system to support your customers?
Yes, every 1 in 2 of my customers would volunteer to score themselves on their financial satisfaction. Most of them explore retirement and saving as their financial priorities ….
How 360F tackles behavioural biases
to support insurance sales
If you are responsible for insurance sales, you must understand behavioural biases. They give you hints on how to increase sales. In the best interest of your customers, of course.
Editor’s Notes: We launch this article on a significant day – International Women’s Day. In the spirit of #breakthebias, we include an epilogue where we put a critical eye on gender differences in behavioural biases.
360F explains how ignoring behavioural biases impedes advisory effectiveness but actively acknowledging their presence builds up a solid advisor-client relationship.
Loss aversion motivates us to buy insurance
The loss aversion bias is the most obvious and intrinsic motivation for people to buy insurance. Behavioural economists Daniel Kahneman and Amos Tversky describe this universal bias ….
Interview With Manoj Poduval, Head Of Zurich Advisory Network (Zurich Insurance ME)
Editorial note: Manoj Poduval is Head of Zurich Advisory Network, a burgeoning distribution channel of Zurich International Life in UAE. He shares with Clarie Kwa, Chief Market Officer at 360F, how he syncs his twenty years of financial advisory and distribution experience, with 360F’s technology innovation to make Digital Advice a success for the global insurer with a local presence and commitment for over three decades.
Clarie: Digital Advice is built on the advice engine and solutioning optimizer, 360-ProVestment®. How have your advisors taken to the technology?
Manoj: We are proud to have contributed immensely, making the advice engine and optimizer Zurich-specific. Today, all our advisors use the tool. Digital Advice ensures that they perform a proper needs analysis and give consistent and unbiased recommendations.
Clarie: Why have your advisors been able to embrace the advice engine and optimizer?
Manoj: While I may have mandated our advisors to use it, I help them see the value. In the market, there is a lack of proper financial needs analysis ….
Case study: How a Financial Services Director used 360-HappiU® to negotiate effectively
Editor’s note: Dovanson is a Financial Services Director who utilises effective negotiation to make financial advisory a reassuring experience for customers. He’s a satisfied client of 360F who enjoys using their scoring tool called 360-HappiU®.
What is your current role in your company?
I’m a Financial Services Director with reporting advisors below me.
How do you use 360-HappiU® with your prospects?
I use it as a pre-sales engagement exercise ….
How we make financial advisory authentic for
maximum business and customer value
Financial advisory is often misused as a means for product sales. From that perspective, poor advice is worse than no advice, as the former offers a false sense of security. Yet proper financial advisory is the gateway to productivity, in terms of sales conversion and case size.
360F addresses the inherent challenges of financial advisory and proposes alternative thinking to realize its authentic potential.
Challenge 1: Planning is hypothetical
Long-term planning inevitably involves assumptions such as inflation rates and investment returns ….
Case study: Meet the financial advisor who advised a competitor
Editor’s note: Hian Ying celebrates one year as a financial advisor by upselling to an employee from a competing insurer, with the help of 360-HappiU® developed by 360F.
How did you use the financial satisfaction scoring tool, 360-HappiU®?
My company provided us a self-directed pre-advisory exercise that came with the 360-HappiU®. Since there were voucher rewards for customers who completed the exercise, I seized the opportunity and shared it with 90 prospects and customers ….
Case study: How Angeline, a financial adviser, overcomes her self-doubts with 360-HappiU®
Editor’s note: Angeline joined the financial advisory industry just one year ago, during the Covid-19 pandemic. Despite the daily uncertainties, she overcome her self-doubts by tapping on supporting services such as the 360-HappiU® developed by 360F.
1. How did you join the financial advisory industry?
The truth is, I didn’t plan to! I actually dreamt of being a cabin crew! But that fell through during the pandemic. The pandemic also forced me to relook into my family’s financial portfolio, and that sparked my interest in financial planning.
2. .. And what is your biggest struggle?
I often have moments of self-doubt. This makes it hard for me to spontaneously advise my customers ….
The problem with customer engagement
and how we solve it
Customer engagement refers to the connection between companies and customers that influences purchasing behaviour [1] Gallup research shows that such a connection is built partly on rational loyalty but mostly on emotional attachment. It demonstrated that a mid-size bank could add $265 million to its customer deposits just by scoring on higher attachment from 50,000 more customers [2].
Following this definition, 360F tackles insurers and advisors’ challenges in customer engagement, and proposes alternative thinking.
Challenge One: Campaigns are blue-ticked
Insurers and advisors use product-centric campaigns as touchpoints, differentiating themselves with product benefits to get consumers’ attention ….
Case study: How an introverted advisor uses HappiU®
Editor’s note: Don is a financial advisor representative with two years of financial advisory experience. He’s a satisfied client of 360F and enjoys using their scoring tool called 360-HappiU®. He happens to be an introvert.
1. As a financial advisor representative, what gets you excited?
Leads, leads, and more leads! The possibility of having a steady stream of warm leads, ready to purchase, gets me fired up.
2. .. and what keeps me awake?
The nagging question is ….