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What is your 2017 Strategy?

Bob Maruska
LTC & DI Specialist

It is not too early to start your planning for 2017. This year has been very interesting. The DOL has been the most popular topic of discussion this past year and implementation is scheduled to occur in April next year. Do you have a plan in place?

Many of you are fortunate enough to have established practices. You enjoy a high degree of success and you have been able to continue that success by replicating what has worked on the past. Unfortunately, the DOL is asking for us all to hit the “reset” button and is requiring us to think critically about our businesses. What sort of structure will set you up for success in the long term?

If the DOL is successful in forcing us all to hit the “reset button” and thrusts us into a new regulatory environment, we need to have a PLAN for the future.

Analyzing Your Current Book of business
In order to plan for the future, you need to know where you have been.

  • Do you understand your revenue breakdown between fees, commissions and insurance sales?
    • Commission based sales are under attack by the DOL

    • Do you know how much of your commission based sales are qualified versus non-qualified? The DOL rule affects qualified funds.
  • Have you actively pursued Life, LTC and DI sales?
    • These traditional insurance sales are largely unaffected by the pending changes.
    • Increased insurance sales can help offset reduced revenue as you transition more of your business to the fee based platform

Seven Points to Consider When Planning for 2017

  1. Mine your book for life insurance opportunities.
    Almost everyone needs some amount of coverage and “up front” compensation of insurance products can help supplement your income as you move more of your assets to the fee based side.
    • Have you helped your clients identify how much insurance they need?
    • Have you put each client through a life insurance policy review?
    • Do you know business owners needing a business valuation or buy/sell review?
  2. Mine your book for LTC opportunities.
    Baby boomers aren’t getting younger and the time to plan for long term care needs is now. We want to help our clients transfer this risk from their balance sheet to the insurance carriers.
  3. Familiarize yourself with annuity products with income riders.
    Clients' need for guaranteed income isn’t going away. Having some guaranteed income is usually in the client’s “best interest.” These products aren’t going anywhere and understanding them will be critical to your future success.
  4. Try to balance your equity and fixed business revenue. 
    If you know any health insurance agents who have experienced the changes of Obamacare, you will understand the benefits of having a diversified income stream. Incorporating fixed products will provide you with substantial income and regulatory diversification.
  5. Use the FHC Marketing team for alternative ideas and suggestions. 
  6. Prospect for new clients and assets.
    Always be prospecting! It’s always good to keep an eye out for where your next wave of clients will be coming from.
  7. Break out of your old routine and think creatively.
    Change is here!


In closing, I hope you had a very good 2016 and let’s be positive going into 2017. Remember the FHC Marketing Team is here to assist and help you with your clients’ questions and needs.

Please feel free to contact me at



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