MGA creates platform to approach young clients

Financière S_entiel, a Quebec managing general agent (MGA) member of AgenZ Group, has developed a digital tool designed to help advisors reach a demographic that often eludes them in favor of direct online sales: the youth. 

"Very few clients under 40 are being approached," says Frédéric Perman, Vice President of Business Development at Financière S_entiel. Reflecting on competitive priorities for the coming years, the MGA partly attributes this gap to the age of advisors. "For an advisor in its sixties, it's more challenging to approach someone who is 35," Perman notes. 

Financière S_entiel also recognizes the growing importance of the Web among younger clients. "The family market is increasingly moving towards direct organizations because young people want to be involved in the sales process and deal on equal terms with a professional," believes Perman. 

Core products 

In response to these observations, Financière S_entiel began developing a tool in 2022, in the form of a website called MAVI.VIP. "This is an online insurance quote tool fully funded by Financière S_entiel and offered free of charge to advisors we collaborate with," explains Perman, adding that no fees are charged to the advisor, nor is there any commission sharing. 

Three tabs on the MAVI.VIP site allow clients to initiate either a life insurance, critical illness insurance, or disability insurance request. Additional tabs enable traditional or no-medical-exam mortgage insurance requests. Users will need to fill in some fields, such as personal information, amount of insurance, or type of insurance, for example. 

One tab briefly describes various registered savings vehicles and invites clients to seek advice as needed. Another allows for a Registered education savings plan (RESP) request through a representative of Kaleido Growth, facilitated by a client referral agreement between Financière S_entiel and Kaleido. 

Short video clips, less than a minute long, highlight the products. Speaker, trainer, and social work techniques instructor at Cégep de Saint-Jérôme, Véronique Joanis explains them in a few sentences: "Don't let the tax payable at your death eat into your estate," "Who will pay your bills if you can no longer work?" or "Medications, transportation services, home care, it's expensive," for example. 

Quiet launch 

Starting in the fall of 2022, the MGA began sharing a personalized link with advisors for use on their websites or social networks. In early 2023, the site was enriched with videos from Joanis. It became more visible: a referral agreement with Kaleido; an offer to donate $1 to the Breakfast Club for each insurance request. 

Is it taking off? "It's just the beginning," acknowledges Frédéric Perman. "Sales are starting to come in. We're approaching a hundred." Perman continues saying experienced advisors are more hesitant, but the younger ones are getting on board. He says he has received testimonials from advisors who have successfully acquired new clients through the site, or from consumers who have become clients on their own. 

Contributing to business 

With MAVI.VIP, Financière S_entiel aimed to redefine the service it offers to advisors. "The MGA should not play a hierarchical role for advisors, but rather an equal role. That of a business consultant who brings new ideas and solutions that will make the advisor say, 'I'm going with S_entiel because they contribute to the development of my business,'" thinks Frédéric Perman. 

According to Perman, MAVI.VIP will allow advisors to approach their clients' children and potentially advisors for their succession.