Insurance Agents
- Represent single brand company, limited product range
- Product from one single company, higher intention for product-selling approach and might overlook customers’ genuine needs
- Focus on whether the products could be successfully sold or not, try to convince customers not to make any comparison
- Commission is the main source of income
Financial Consultants
- Represent customers with more impartial role – to compare benefit coverage, risk and return, terms and conditions, premium amount etc
- Needs-selling approach – fully utilize different product mix to formulate the best financial solution
- Focus on whether customers’ finance problems and whether the objectives can be achieved or not, usually will do comparison for customers
- Apart from commission, there’s additional source of income from management fee and advisory fee
Career Path
