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What to Look for in an Ideal Broker

Many times I am asked, “Why would I want to work with a broker?” I get it. Why would you want to spend money with someone just to have them tell you how to spend your money? Maybe you feel they are going to try to upsell you on a product you don’t need or maybe you think they are going to confuse you by using industry lingo and muddy the waters on a topic you thought you understood.

So sit back and let me debunk some of these misconceptions and also explain what an ideal broker looks like.

First, you are right. Brokers are going to help you spend your money. But a good broker is going to spend it on what you need. When thinking of using a broker you want to make sure that the first thing the broker does is sit down and get to know you. They should ask questions like, “What’s your budget?” or “What’s important to you?” Is it low co-pays or making sure you have the right network of doctors? There are many qualifying questions a good broker will ask you before they “sell” you a line of insurance.

Second, yes brokers are going to upsell you-but only where it makes sense. Remember, brokers are the experts. Just like going to the dentist for a cleaning, you expect him to make suggestions for healthier teeth. Your broker should make suggestions to keep you financially safe, more appealing to employees which means more quality employees and better retention. We may suggest offering a short-term disability line to make your company more appealing to employees or a life coverage that meets your individual needs.

Third, brokers are going to muddy the water but then clear it up again. The right broker is going to make sure you understand the product, the language and all of the details so you can make an informed decision about your benefits.

Basically when looking for the right broker to represent you here is what you need to look for:

  1. Are they taking the time to get to know you, your business, your goals?
  2. Are they making sure the lines of coverage they are offering you are in your best interest?
  3. Are they helping you understand what you are buying so you can make the best informed decision?

These are just some basic ways to qualify whether you are working with the right broker or not. The advisors at Kuzneski Financial Group love this part of the process so next time you are looking for coverage, whether it is individual or for your employees, call us for a face to face meeting to see if we are the right fit for you!

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