blog

  • Monday, 28 October 2024

From Second-Generation Insurance to Inspiring Success

As a second-generation insurance professional, Ben Stewart, Business Development Director at 1847Financial - Nashville, entered the industry just a week after high school, inspired by his parents' own story—his father sold his mother life insurance, a match that Ben jokes was "the best referral ever." He’s built a career on supporting and empowering financial professionals, bringing a hands-on, client-centered approach to his role. In this conversation, Ben shares insights into his career, his approach to partnership and what makes 1847Financial a standout for financial professionals seeking growth and community.


How long have you been in the financial services industry, and what inspired you to enter this field?
This is my 29th year in the financial services industry. I earned my license just a week after graduating high school, so this is the only industry I've ever worked in. My inspiration came from being a second-generation professional. My parents actually met when my dad sold my mom life insurance in 1969, which I always joke is the best referral anyone's ever gotten. This business has provided for me my entire life, and it’s a legacy I’m proud to continue.

Can you tell us about the various roles you've had throughout your career?
I started in the family business, which was a property and casualty agency in Florence, Kentucky. During college, I was that guy who would wear a suit to class because I had to sell insurance afterward. After graduating, I didn’t want to stay in the family business, so I pursued a wholesaler role. That’s where I really cut my teeth, answering calls from successful independent advisors and learning on the job. Eventually, I was promoted to an outside wholesaler, then to a variety of regional positions. Today, I’m the Director of Business Development at 1847Financial – Nashville, and throughout my career, my focus has always been on supporting, developing, and recruiting independent financial advisors.

What sets your firm apart from others in the industry?
Our firm stands out because of our unwavering support for independent advisors. Many advisors feel isolated, but we bring them into a community of like-minded professionals who are committed to mastery and are eager to share their knowledge. Our process, particularly the LEAP model, has been time-tested over decades and provides a pathway to success. While not every advisor uses it, the fact that we have a structured process available is a significant differentiator. Moreover, our culture at 1847Financial, especially in our Nashville firm, is what truly attracts and retains top talent. We invest heavily in education and personal development, which resonates deeply with our advisors.

How do you partner with financial professionals to help them grow?
I believe that every professional needs a coach, just like top athletes do. I’ve developed a partnering process that’s all about the financial professional, not just our firm. I often don’t even mention Penn Mutual during the initial discussions because my focus is on understanding the advisor’s needs and how I can help them succeed. What really solidifies our partnerships is my commitment letter, where I make a personal commitment to the advisor – this approach has been a game-changer. I also ensure that we meet regularly to identify the next steps that will help them achieve their goals.

Why would someone want to join your firm?
Joining our firm means becoming part of a community of top producers who are committed to mastery without any egos. We’ve created a culture where we’re humbly confident in our abilities to help clients, and this confidence comes from our process and model. We’ve also expanded to 19 states, attracting advisors virtually as well. We fill the gaps in an advisor’s practice, helping them to thrive where they might have previously struggled.

Can you give an example of how you've helped a financial professional grow their business?
One example that stands out is Brent, who I met in 2008. Despite our strong friendship, he didn't sell much life insurance. I invited him to a meeting that I knew would have a significant impact on his business. After the meeting, he immediately recognized its value and, within a year, went from not selling any life insurance to becoming my top producer with over half a million in premium. It’s a testament to the power of the right guidance and support.

What do you look for in a financial professional when recruiting?
I focus on three qualities: qualified, coachable, and committed. My process allows me to assess these traits quickly. A successful financial professional must have a track record of success, be open to learning and growing, and be committed to applying what they’ve learned to their practice. We’re also seeking fully licensed advisors who meet these criteria.

How do you support financial professionals?
My support is entirely focused on them. Every financial professional has their own motivations and personal reasons for being in this business. My goal is to understand what they truly want out of life and become their advocate in achieving those goals. I always ask them to set a new revenue goal—not just maintaining what they’re already doing, but identifying additional revenue they want to achieve. Then, I connect that goal to a specific purpose, like asking them, "What would an extra $100,000 in revenue mean for you?" The answers I’ve heard over the years are inspiring – whether it’s retiring earlier, hiring new team members to free up their time, or even buying that dream boat. When we meet, we start by identifying the next three cases that will help them move closer to that goal. It’s all about making their vision a reality.

What advice would you give to a financial professional considering changing firms?
I’ve seen many professionals chase opportunities that don’t align with their strengths, leading to disruption rather than growth. It’s crucial to understand whether the move aligns with your identity and goals. For example, if you see yourself as a business owner with an entrepreneurial mindset, you need a firm that supports your long-term goals and vision.

Is there a quote or saying that guides you in life?
There's a quote from Zig Ziglar that I like: "You'll get all you want in life if you help enough other people get what they want in life." For me, it's simple – by focusing on helping others, I know I’ll live a fulfilling and successful life.

What do you enjoy doing in your free time?
I cherish spending time with my family, which brings me the most joy. I also enjoy cooking, especially with my six-year-old, who loves getting involved in the kitchen. I’m also working on developing a habit of reading, and I’ve completed eight books this year alone. I love applying what I read and sharing that knowledge with others.

Want to learn more? Connect with Ben on LinkedIn.

LEAP®, Leap-The Model for Financial Success™, The Leap Model™, Macro Manager™, Personal Macro Economics Process™, Wealth In Motion®, Protection, Savings, and Growth (PS&G) Model®, and Lifetime Economic Acceleration Process™ are trademarks and service marks of Leap Systems, LLC which is an independent affiliate of Penn Mutual Life Insurance Company (PML). HTK is a wholly owned subsidiary of PML. Trademarks belong to their respective owners.
7229817RG_Oct26

1847Financial Logo