Edward Karram is the Founder of SELL-U, the #1 life insurance training program in the country that takes agents through the finer points of insurance fundamentals, telemarketing, and social media. He has helped thousands of registered agents develop and own a successful book of business. Drawing from a wealth of experience, the businessman also provides personal mentorship to financial advisors to help them master their craft.
When it comes to the financial realm, Karram is no stranger to challenges. The entrepreneur had no mentorship to rely on when he first started in the industry, leading him to burn through three IMOs in the span of 12 months. Today, he’s eager to help advisors put their best foot forward by empowering them with the kind of knowledge he didn’t have access to at the time.
The Bureau of Labor Statistics revealed that the number of jobs in this realm was over 270,000 in 2018 and this is set to rise by 7% in the next 10 years; which is faster than the average. Clearly, this profession has experienced a welcome surge in recent times. According to Karram, mastering this field takes some doing, and isn’t without its fair share of hurdles.
“In the world of finance,” Edward Karram says, “relations are the pulsing lifeforce in the equation. The first step? Define your key market. Rarely do advisors bother to perform this vital step, rendering it nearly impossible to tailor their market message.”
He continues, “I’ve seen so many people that respond with ‘I cater to high-net-worth individuals,’ or ‘I work with wealthy families.'”
“That isn’t defined enough,” the businessman points out. “It isn’t always easy to pinpoint high-income people as this isn’t typically the kind of information disclosed. A better approach would be to focus on a niche like the IT sector or reach out to the alumni of your alma mater.”
The businessman goes on to say that this helps connect with prospects better, not to mention catering to a certain niche generates more referrals.
When it comes to financial advisors, per Karram, bedside manner is key.
“Clients may feel apprehensive when it comes to money matters, and understandably so,” Karram reveals. “Especially when the market is volatile or there’s a stressful life event occurring, clients need someone who is easy to confide in, someone who listens more than talks, and someone who isn’t focused on the hard sell. Be that person for them!”
In this sector, people are most afraid of the complexities involved, according to Edward Karram. He cites a simple example.
“In an attempt to wow their clients, there are so many advisors that use complex jargon in the hopes that clients will be confident that they know their stuff. In reality, all clients want to do is understand what the product is and how it will make their life easier.”
The businessman strongly urges advisors to present their pitch in a conversational, easy-to-grasp manner and refrain from unnecessary charts and graphs.
“It’s easy to toss out long-winded pitches. It takes a true virtuoso to demystify the financial process,” Edward Karram finishes.
More on Edward Karram and SELL-U
Having witnessed first-hand the absence of quality training in the industry, the entrepreneur created SELL-U; a training program that helps life insurance agents learn the tricks of the trade, enhance their book of business and access clients on demand.
The businessman recognizes that the competition in the world of finance is stifling. With personal mentorship from Karram, agents get the inside take on how to get ahead in the business and stay there. To date, Karram has helped thousands of agents and advisors across the nation to realize their true potential and generate a six-figure stream of income.