HSG: What's the best approach to the diversification Opportunity?
JMB: We'll pursue it from both sides simultaneously-work with the life producers to support expansion into areas like benefits and investments, and help the investment advisors take their business beyond the strict scope of money management.
HSG: What do you view as one of your biggest future opportunities?
JMB: I think the insurance business is very exciting now. There are more financing options available, there are more exits available, wealthy clients are looking at the risk components of their portfolios differently and looking for ways to manage volatility. The idea of a guarantee can be very alluring. Our advisors are true specialists, they can add tremendous value operating in a discrete capacity and making the pieces work together. Plus, they have the billion-dollar buying power of NFP behind them. So, if there's a $150 million life case that has to go out to 15 to 20 carriers-we have those relationships and that negotiating leverage.
I also believe our willingness to
conduct "shared" business will give us a real advantage. It's not an
approach favored by a lot of financial professionals, but our firms
collaborate with each other quite a bit in order to deliver a total
solution to clients.
HSG: What will allow you and your firms to grow?
JMB: Doing what we can to make it easier for our firms to operate and, more importantly, grow. Our advisors have a true understanding of what their wealthy clients need and it's our job at NFP to create the right mix of product and support to ensure that, in the end, the client receives the best service available in the marketplace.