New York Life agent goes prospecting on the streets

When cold calling chilled prospective clients, insurance agent Eric S. Klarman brought his business outside — to subway stations and on the streets of New York.
DEC 02, 2009
When cold calling chilled prospective clients, insurance agent Eric S. Klarman brought his business outside — to subway stations and on the streets of New York. Mr. Klarman, an agent with New York Life Insurance Co., has been making appearances on the streets of lower Manhattan and in Brooklyn. You might see him on a busy street or in a subway station, sitting at a table with a New York Life banner, meeting and greeting prospective clients. “An agent has to have a lot of discipline to make a tremendous amount of phone calls, and I learned early on in my career that I didn't have that discipline,” he said. Mr. Klarman has been an agent for eight years, spending six of them meeting new clients through what he calls “public marketing.” “It made sense to me that if you present yourself in an area with high foot traffic, naturally, someone will be interested in what you do and the services you provide,” he added. The exposure has brought in an unusual mix of clients, not just well-heeled prospects who work on Wall Street near Mr. Klarman's office. In Brooklyn — where he lives — Mr. Klarman sets up his table in Crown Heights, Fort Greene and Bedford Stuyvesant, which brings in a variety of clients from different backgrounds. “I have clients who are borderline poverty, those who are extremely affluent and white-collar executives,” he said. But female prospects are the most receptive, Mr. Klarman added. “Women are the more serious buyers,” he said. “As far as approaching the table, they seem to be a bit more receptive, and they get a chance to pre-qualify me.” Though the decision to take business outside hasn't made Mr. Klarman a millionaire, it's boosted his production enough to become part of his business model. “This saved me,” he said. “It gave me a means to prospect within my comfort zone. Am I hitting home runs and grand slams? No, but I can pay my bills and go on vacation.”

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.