The "Dental" Model For Your Financial or Insurance Business?

In a recent article, advisor Katherine Vesseness talked about implementing the “dental” model in her financial practice.

When you visit most dentists, you spend the largest part of your time with the hygienist. The dentist comes in at the end, gets updated by the hygienist, does a little poking around, discusses anything that comes to his attention, and leaves. This allows dentists to see many more patients every week than they might otherwise.

There are at least two ways that you could set up a similar model in your business:?

(1)???? This is the one Ms. Vesseness wrote about: With clients other than your top ones, visit with the client briefly to catch up and then have an associate take over the meeting, so that you can move on. This frees up time for you to focus on your top clients and new business.

(2)???? Have a team member handle everything that needs handling after your client meetings.? This could involve having someone work with the client to go over all the details and follow up on documents. It should involve preparing applications and forms for your review. It could also involve things like teaching the client how to use your portal, following up on paramedical appointments and with underwriting, calling to set up client appointments, keeping track of the CRM, etc. If there’s enough business, it could involve a paraplanner obtaining the information needed, inputting the information, and running hypotheticals for your review.

In my 25 years working with and observing ?top advisors, most have evolved to be performing only three functions:

1.??????? Getting in front of and speaking with prospects and Centers of Influence

2.??????? Keeping in touch with their best clients and keeping them happy (and much of this work can be delegated)

3.??????? Supervising—not DOING—all the other work in your business.

Even for insurance agents and financial advisors who only have one assistant, the dental model can help them make the most effective use of their time.

Another aspect of this model is fixed appointment times.? While we all want to accommodate clients and prospects to the extent we can, too many advisors let their clients run their schedules.

You offer a client a 2pm or 4pm appointment next Tuesday and they want 3pm, so you move someone to accommodate them. Or you make Wednesday evening available for them and they ask for Thursday, and you go ahead and change your evening plans.?

The message clients receive is that you’re not that busy and that THEY are in charge. Imagine arguing with the dentist’s office for the appointment day and time you want, after being told what is available.? Do you think you would be successful?

Dentists have a set schedule (flexible only for emergencies). Do you follow a master schedule with fixed appointment times?

I have a simple MSWord template for creating a master schedule that could help you get started following this model.? If you’d like a copy, comment or message me with the word “Schedule”.

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