The Evolution of Traditional Field Marketing Organizations
May 13, 2020 by Sherri Du Mond
Field marketing organizations (FMOs), also known as independent marketing organizations (IMOs), have always played an essential role with independent financial professionals by helping them build and grow their practices, acting as the expert intermediary between financial professionals and carriers.
Traditionally, FMOs have been seen as a place for independent financial professionals to sell fixed and fixed index annuities and life insurance products, while also benefitting from access to different marketing and sales techniques. While what each FMO offers can vary greatly – from marketing strategies to sales tools to lead-generation software – the ultimate goal is to proactively drive their financial professionals business and provide clients with much needed retirement solutions.
But the industry has come a long way in recent years, and as a whole, we’re now embracing a more holistic approach when it comes to creating financial strategies. Rather than using insurance products as an add-on, they are now viewed as an important tool to help manage risks to retirement within a comprehensive financial strategy. And many financial professionals now view “guaranteed retirement income” as an additional asset class within a portfolio.