In 2022, Cai Xuan Ang spent the entire year working seven days a week, with little time for rest or a personal life. While the effort paid off — the now two-year MDRT member from Singapore closed nearly 250 cases and qualified for MDRT for the first time — her pace was not sustainable, particularly for someone with a baby on the way.

Her ensuing adjustments are a case study in knowing that success sometimes means being willing to change what made you successful in the first place.

Client needs and retention

Ang’s career breakthrough came from focusing exclusively on selling long-term care insurance. The reason was strategic — avoid appearing pushy and respect clients’ needs based on their interest in that particular coverage. But that focus came at a cost.

“I began observing my clients acquiring insurance and investment plans from other advisors,” Ang said. “I realized that to fully serve my clients, I needed to offer a broader range of products and services beyond just long-term care.”

So, Ang, who now has 80 financial planning clients as part of a clientele of 300, sought new knowledge and techniques to upgrade and expand her practice and incorporated insights from veteran advisors and industry experts. She learned how effective positioning is crucial to distinguish both product and advisor to ideal clients, and when to balance approachability and informal connections with more formal professionalism.

With help from a more experienced advisor, Ang also began using an Excel financial planning template that allows her to document clients’ cash flow in new ways. She now has a more organized and deeper understanding of each client’s financial position from which to offer comprehensive advice for their risk and wealth management portfolio.

By incorporating her expanded knowledge and service, Ang is better equipped to discover what resonates best for her and her clients and drive action through explanation and understanding. Her performance is also driven by her team, who she says motivates her to come into the office each day even if she has no appointments.

“Having a supportive environment is highly beneficial in facilitating one’s growth and learning on a daily basis,” she said. “This journey has underscored the importance of seeking assistance when needed.”

Working smarter, not harder

Armed with her new approach, Ang began conducting thorough financial reviews for all her 250 long-term care clients. To say this was successful would be an understatement.

“Through just a few appointments with the new tools and strategies I picked up, I was able to close more than 10 cases with a client who was expecting twins,” she said. “This resulted in securing a retirement plan for them, a plan for their children’s college education, four life insurance plans (one for each spouse and two for their children), a personal accident plan for the entire family, and wealth accumulation through their Supplementary Retirement Scheme under the government’s mandatory social security savings program.”

By directing her efforts more strategically, Ang simultaneously adjusted her business and improved her work-life balance. This balance, she realized, stemmed from embracing a continuous mindset of “learning, unlearning and relearning” and adapting to evolving situations to improve herself.

“At first glance, the concept of unlearning might seem counterintuitive, but it’s not as daunting as it sounds,” she said. “In fact, unlearning creates space for more relevant and up-to-date information. By embracing the continuous cycle of learning, unlearning and relearning, we can continuously grow and improve within this profession.”

Of course, that growth shows up outside the industry as well. She makes a promise to herself to come home to be with her kids before their bedtime on weekdays and avoids weekend appointments to focus on family time. Because while Ang still recognizes the value of hard work, she also has shifted her perspective to identify the things she doesn’t want to miss and regret after the chance has passed.

“Hustling is important,” she said, “but creating memories and watching my kids grow up, or spending time with my parents, is equally as important.”

Audrey Heng writes for Team Lewis, a communications agency assisting MDRT with content development for Asia-Pacific markets. Contact mdrteditorial@teamlewis.com.

Search

Search

More options, more balance