If you’re thinking of becoming an insurance advisor, or exploring licensing options that are available to you, be sure to tune in to our first episode of For Advisors, By Advisors! In this video, we spoke with Brett Fulmer and Matt Lindzon about why they pursued a career in insurance and what the benefits are of being a multi-licensed advisor.
Episode 1: Highlights
For Brett, he started his insurance career with a focus on commercial lines and P&C so he could help clients insure valuable assets like their homes, auto, etc. However, Brett started to notice many of the clients he worked with had a coverage gap when it came to protecting their income in the event of a death, disability or injury in the family. In order to provide long-term and more holistic financial advice, he decided to pursue his life license.
This helped Brett position himself as a fully-equipped financial advisor, and allowed him to introduce life and living benefits insurance into his conversations with clients. This is especially relevant today. As noted by The Globe and Mail, life insurance has become a core topic among clients and advisors amid the global pandemic.
As a financial advisor, being multi-licensed means having the ability to expand your services and speak to 360-degree coverage for your clients. For Brett, it also means further expanding his business by exploring new clientele and cross-selling opportunities.
In our first episode, we also touched upon the process of completing your life and health licensing exam in Canada versus the US. Although Brett is based out of California and Matt lives in Toronto, it was interesting to note the similarities in their respective application experiences.
Matt shared his experience studying for the Life License Qualification Program (LLQP) in Ontario. He opted for the self-study approach, however most provinces provide the choice of pursuing instructor-led courses (either in-person or online) or self-study, depending on the licensing level. It’s best to check with your provincial licensing organization to see the full list of options available to you. One thing is consistent across all options however; there is a fair amount of studying involved, so be prepared!
Matt originally decided to explore his life license so he could speak to the needs of the advisors we serve at Finaeo. In order to put himself in the shoes of our customers, he wanted to gain firsthand experience. Additionally, Matt was motivated by the ability to provide his friends and family with sound advice and ensure they have their finances on track.
It became clear during our conversation that one of the added benefits of being an insurance advisor is that you can have a “day job” and still earn a supplemental income doing impactful work on the side. Getting your license is arguably the main hurdle in all of this; from there you can reap the benefits and fulfillment associated with helping people you care about achieve financial security.
We hope you enjoyed our first episode! If you’re thinking about expanding your licenses or want to learn more about our advisor solutions, please feel free to get in touch with our team!