Turning agents into planners

Many insurers believe converting their insurance agents into financial planners will help generate new customers, aid cross-selling and improve bottom-line performance. This approach has real merit, but also presents serious challenges. In practice, insurers adopting this model must: 1. identify the appropriate customer audience, 2. determine how they can differentiate themselves, 3. figure out what capabilities are needed, and 4. make sure the financial-planning model can be made economically attractive.