Jennifer A. Borislow
Founder and chief executive
officer of Borislow Insurance
Randy L. Scritchfield, CFP,
LUTCF; Second vice president
of the MDRT Executive
Committee
The point was to explore the qualitative results of how these
three professionals’ plans are working out, and possibly learn
something about broader planning in the process.
I started by asking the three to share their planning focus for
2020. More specifically, I asked where, as they started to build
their marketing plans for 2020, they saw the greatest opportunity
in terms of either focusing on a particular product line or in
making some changes to their operations.
Ms. Borislow said, “Complexity brings opportunity! In 2019, the
Massachusetts legislature joined many others states in passing
a new law called Paid Family and Medical Leave (PFML). Under
this law, employers of all sizes are required to take some action
as it pertains to offering employees the ability to receive paid
time off for family leave or for an employee’s health condition.
This new law has created a huge amount of confusion for
employers, as they have options ranging from offering a private
plan to contributing to a state funded plan. The bigger picture
is coordination of all kinds of employee leave, including but not
limited to PFML state and federal, sick time, maternity/paternity
leave, worker’s compensation, and short- and long-term disability.
Leave absence management is where we see a significant
opportunity to be impactful to our clients and prospects.”
For Mr. Scritchfield, the best opportunity for success in 2020
doesn’t lie so much in product, but instead in the kind of client
he serves. “At this point in my practice, my greatest marketing
opportunity is not in terms of a particular product line, but rather
in the demographics of my clientele. Because most are
either entering retirement or in retirement, they
are very concerned about their money not
‘dying’ before they do. One of the biggest
Jonathan A. Shaw, CLU, ChFC
President and CEO of
Shaw American Financial
Corporation
services we provide for them is lifetime income through some of
the products we offer, to ensure they’re well protected into their
golden years.
“Additionally, I continue to be amazed at how many people
regret not securing more than 10- or 20-year term life insurance
policies when they were younger. A decade or two before, they
thought they would not need life insurance in retirement. But
as retirement draws near, they realize how active they still are,
and that their life has not changed significantly from when they
were working. As a part of that active lifestyle, they still want the
comfort and security that a life insurance policy brings, plus the
tax-free death benefits create a great source of liquidity they may
not otherwise have.”
Mr. Scritchfield added, “We are working with clients to renew
term insurance policies when necessary, but ideally, we help them
secure a form of permanent insurance to take them into retirement.
It is ironic that, in retirement, they often now want something that I
may have failed to convince them to purchase years ago.”
Mr. Shaw’s objectives for 2020 are quite different, focusing more
on his operation and how it can better serve advisors. He told me,
“‘Build it and they will come’ is a misquote from the movie Field of
Dreams. The real quote is, ‘Build it and he will come.’ Regardless, if
we build the best infrastructure of high-quality carriers, technology,
and top-notch employees to service business, I believe there are
plenty of disenfranchised advisors who are looking for a store that
is easy to work with and knowledgeable about our products.”
So now that their 2020 goals are established, I asked about
the practical steps they have taken to help ensure that their
expectations are realized. Mr. Scritchfield told me, “I’m at a
stage in my career that’s different than many other advisors,
Tracking the year continued on page 12
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