Looking at the early career trajectories of Li Yang and Sho Mori, one would think they would have been working in a hospital or a doctor’s office examining patients or prescribing a therapy regimen to aid recovery. Yet, instead of continuing to be a physician or an occupational therapist, the four- and three-year MDRT members, respectively, took their medical backgrounds in a new direction. Li developed a process where, much like a doctor, he provides a financial diagnosis for his clients, while Mori identified a niche market and built a practice that delivers long-term financial planning to medical professionals.

The process

Before becoming an advisor, Li was pursuing a clinical medicine degree. But upon realizing that if he and his wife, who also was pursuing a medical degree, were both working as doctors, they would have limited time to be with their families. His transition to financial services was driven partly by a desire to seek a flexible career but also by the realization that while doctors heal physical ailments, insurance can heal financial ones.

Initially, he worked in property and casualty insurance until he recognized that life insurance offered more growth potential as he could leverage his medical expertise. That’s when Li adopted an approach that mirrors a doctor’s methodology.

“I bring the same level of professional rigor to insurance planning that I brought to medicine,” Li said. “When meeting with clients, I conduct what I call a ‘financial diagnosis’ similar to a medical consultation. I gather comprehensive information about their needs, family structure, daily expenses, financial status and debt obligations. I also explore their future aspirations. Only after this thorough assessment do I design a tailored insurance solution that addresses their specific situation.”

In addition to his medical education, Li also carries deep knowledge about handling claims and navigating the underwriting process. The combination is a differentiator.

“I’ve observed that clients’ biggest anxieties typically revolve around two areas: passing underwriting and navigating the claims process effectively,” Li said. “Having worked in both claims and underwriting, I thoroughly understand these procedures, so I can guide clients through them with confidence.”

Awareness about the risk protections that life insurance provides historically has been very low in China, but Li is committed to educating prospects about its benefits.

“While the pandemic increased public awareness, and better access to information has contributed to a greater acceptance of insurance, there remains a crucial need for professional advisors who can help people understand insurance concepts and develop appropriate coverage strategies,” he said.

To bridge this knowledge gap, Li dedicates time to educating his clients about insurance fundamentals, including product types, functions and key considerations when purchasing coverage. “When everyone shares a common understanding of these basics, our discussions become much more productive and meaningful.”

The niche

While Li built his practice on a structured diagnosis-driven approach, Mori, a former occupational therapist, focused on carving out a niche within the medical community. His journey into financial services began unexpectedly following two car accidents. After the first, he realized that his outdated insurance policy provided no coverage, prompting him to purchase a better policy. The second accident validated his decision, as he successfully received benefits through the new policy. This eye-opening experience led him to leave his stable hospital job to become a financial advisor.

His prospecting pipeline started with his former hospital colleagues. While nurses, physical therapists, pharmacists and other medical professionals are in a field that offers a stable paycheck, their incomes are relatively fixed and do not increase rapidly over time. Mori saw himself as the advisor who could provide long-term financial planning that this niche will need to protect and grow what they have.

So, he branded himself as a “money specialist.” Clients who referred him were instructed not to call him an insurance agent but to tell others that he was a money specialist who could bring into the conversation how their individual retirement plan and tax-exempt savings account can factor into their overall financial plan. While this positioning differentiated him in the marketplace, being a captive agent for an insurance company with limited products to offer stifled his growth potential. So, he switched to an insurance agency, where he could provide a wider range of solutions.

“I was relieved of the frustration of having limited products to offer,” Mori said. “I could select any product available in the market that best suits my clients.”

The transition was pivotal. His production tripled, and he qualified for Court of the Table. Additionally, Mori leveraged technology to expand his client base beyond local medical professionals. By joining a firm specializing in seminar selling, he mastered online communication and began hosting virtual seminars for prospective clients. This shift allowed him to work remotely and balance work with family life, while expanding his market nationwide. Over time, his focus grew beyond just medical professionals to include families with young children, further strengthening his practice.

“By joining the firm, I was able to expand my business in many ways. I will contribute by training my colleagues and junior staff to express my gratitude,” Mori said.

Li and Mori exemplify how financial advisors can leverage past professional experiences to create unique value propositions and foster trust among their clients. Their success stories offer valuable takeaways for financial professionals seeking to attract clients — whether through a structured process, targeted niche marketing or technological innovation.

Lacey Li and Tetsuo Kageshima write for Team Lewis, a communications agency assisting MDRT with content development for Asia-Pacific markets. Contact mdrteditorial@teamlewis.com.