Background: Reps selling single transactions with only $20k in annual life revenue. Engaged with FSFG, followed Step to Success and set goals with mutual accountability for reps and senior management. Plans to expand program to LBEs in future and bring technology to the forefront to further simplify the process and be more cost-effective.
Result: Life revenue quadrupled over a three-year time frame, from $109k to $463k, with an average commission of $27k per FC, far surpassing the national average of $13k.
Benefits to Bank: New and increased revenue stream, more engaged employees driven to succeed, increased client and asset retention and society benefit to family, increased cross-selling with full suite of products and services.