First, AFS reviews each company's financial statements and ratings. AFS looks for companies that have been stable for some time and for whom the future prospects are positive. They are very sensitive to significant changes in ownership, radical changes in business plans or wholesale changes in management teams. The way agents are treated is also an important consideration. Next, they make sure that the product line fits with the carrier. It rarely makes sense to get on board with a product line that has recently been added and where the carrier has little past experience or track record in that market. That has led to some carriers canceling a product line and leaving the producers in limbo. All of this being studied, the "due care" process concludes with AFS stepping back to see whether everything "just makes sense." After over 20 years in this business, working in the field and in the home office, there is an acquired "street sense" when it comes to products. If it seems too good to be true, it usually is. You've said it to your clients and it applies to you as well. Big promises, teasers, or hoops to jump through are all the things that can cause your product recommendations to become problems. AFS is bombarded by carriers with new products and many of them never pass this test, but the investment of time to review them is tremendous. AFS strives to minimize the "trust me" factor. At the end of the day, you want to be able to meet your client in a public place and not be embarrassed by your recommendations. Can you have too many products? Why do you need a lot of "lookalike" annuities? Why not stock the shelf with core products and then individualize the special situations as they arise? This allows a better match for the client and the product. Well, that's exactly what AFS has done. You'll find that AFS has identified a few of the very best products in each product category. When unique situations arise, we know where to find those specialty products. Concentrating on a few frontline carriers is another way to make you more profitable. How? Concentrating on production yields leverage and familiarity which translates to fewer mistakes. Plus the mistakes or errors that are made can be corrected quickly. A depth of product knowledge will also help avoid most surprises. Many organizations know a little about a lot of products but that little bit of knowledge can be dangerous. Besides making life simpler, it just makes common sense. AFS is constantly evaluating products on the market and upgrading as new benefits make their way to the marketplace.
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