The Insider’s Edge: From agency person to financial advisor

Fresh out of college with a degree in Legal Management, Neil Llorente, a 13-year MDRT member, entered the world of insurance not as an advisor at first, but through the corporate door. He was accepted into a highly selective management associate program of a leading insurance company in the Philippines and gained firsthand exposure to the industry's inner workings, including marketing, investments, underwriting, operations, claims, and agency management.  

In 2011, he became an agency development officer, guiding financial advisors in hitting their business targets. In this role, Llorente witnessed the real impact and rewards of being a financial advisor. “Initially, I was drawn to the performance-based rewards enjoyed by advisors, as these opportunities are not typically available to employees. However, over time, a deeper understanding emerged. While the mission and advocacy remained unchanged, I came to recognize that working within a corporate framework imposed certain constraints and barriers that made it more challenging to directly connect with the very clients we commit to serve.” 

By 2013, he took the leap, secured his license, and became a full-time financial advisor. In just nine months, he qualified for MDRT, a milestone he has reached every year since. Looking back, Llorente credits much of his success to the insider’s edge he brought. “I understood the system. I saw the gaps in how advisors were trained, how clients were handled, and how processes could be improved. That perspective has shaped my practice and has become my advantage.” 

 

Convey the purpose, not the product 

With over a decade of experience, Llorente has learned that product knowledge alone doesn’t build a successful practice. For him, the real differentiator is communication: connecting, not just presenting. 

He believes the Philippines’ low insurance penetration rate of 1.7% is partly due to ineffective communication. “Too often, we focus on positioning the product but forget to highlight the purpose. Financial advising goes beyond insurance plans and premiums. It's about engaging in human-centric conversations that explore people's hopes for themselves and their loved ones, and helping them protect, nurture, and ultimately, realize those dreams.” 

Llorente approaches client meetings as conversations, not pitches, to build trust. He believes trust is the real currency in the industry. “Clients don’t just ask, ‘What are you offering?’ They’re thinking, ‘Can I trust you?’ I make sure to start and end meetings positively, using relatable stories and analogies to connect emotionally.”  

He emphasizes the importance of asking the right questions, actively listening, and being sensitive to cultural and personal beliefs. “For instance, when speaking with Chinese-Filipino clients, I avoid directly mentioning words like 'death,' which may be considered taboo in the Chinoy (Chinese-Pinoy) culture.” He cautions against guilt-based messaging or overly product-centric posts on social media. “We’re not selling tangible items. We’re offering peace of mind. Insurance is deeply personal and must always be approached with sensitivity, empathy, and respect.” 

 

Build your practice like a business 

Besides passion, what sets Llorente apart is his process. He approaches financial advising with the discipline of someone who has seen the entire breadth of the business. From prospecting, fact-finding, and sales presentations to underwriting and claims servicing, he understands how every piece fits together.  

That operational insight allows him to preempt problems, manage client expectations, and deliver excellent customer experiences that turn clients into staunch advocates. “Advisors who only understand the front-end tend to miss critical steps that affect client satisfaction and business sustainability. I always remind my team to see the big picture, figure it out from end-to-end, and make it a science.” 

Since becoming an advisor, Llorente has maintained an unbroken streak of over 145 months of consistent production, never missing a single month since 2013. He attributes this remarkable achievement to disciplined activity management. He tracks every part of his pipeline – the calls or approaches that converted into meetings, the meetings that led to presentations, and the presentations that turned into clients. “You can’t improve what you can’t measure. Every number tells a story.” Llorente has created a profitable and lasting business by building his practice on systems and service. 

 

Quality business is the true measure of success  

While nurturing new leads, Llorente focuses on what happens after client sales, so he religiously tracks his persistency rate, the percentage of clients who continue paying their premiums year after year. His rate has never fallen below 92% throughout the years. “When clients stay, I know I’m serving them well.”  

This commitment to long-term service has paid off. Over the years, Llorente has tripled his profitability, not through aggressive selling but through consistent client care and trust-building. Even during the pandemic, he went above and beyond, servicing policies and processing claims in hard-to-reach areas. One client, moved by his valuable support, referred six new clients in return.  

Today, Llorente has more than 700 clients. While many are business owners, he does not turn away those who are not in that profession. One of his proudest cases in his early years as an advisor was a garbage collector client who was referred to him for a simple term insurance plan. “Not a lot of advisors were willing to take his case since closing a term insurance plan isn’t exactly the most rewarding. But I took him on because I believe in our mission and that every client matters.” That same client eventually completed the plan and upgraded to a permanent policy. For Llorente, it was a reminder that commitment to service results in outcomes.  

Building a thriving and sustainable practice requires dedication and intention. Llorente shares a valuable insight: “Every client deserves thoughtful service, but that doesn’t mean every client requires the same approach. As a successful financial advisor, your time is your most valuable asset. Invest it wisely — allocate 70% of your energy to your top-tier clients for maximum impact, while still delivering meaningful, value-driven service to every segment. Segment smart. Serve with intention. Grow with purpose.” 

 

Contact: MDRTeditorial@teamlewis.com