Member of the Month - A Simple Success Story

For Terry Snyder, achieving success in financial services isn’t complex. It’s simply about treating clients well and running as hard as you can. Snyder should know . . . he’s a top producer with Ann Arbor Annuity Exchange and has been in full sprint for going on 38 years.

As president of TKN Enterprises, Inc., in Michigan City, Indiana, Snyder has built a prosperous solo practice on a foundation of technical savvy, sales smarts, and sheer force of will. He’s an annuity specialist, rolling over 401 (k) and 403 (b) money into annuity contracts that generate guaranteed lifetime income. He also provides long-term care products, along with life insurance estate solutions.

Snyder knows his products, but what really jazzes him is helping clients.

“I believe in treating everyone decently, no matter how much money they have. Everyone gets the same level of respect,” he says. Part of respecting clients is handling their service requests. “I get them done immediately,” he explains. “I try to handle requests while they’re fresh in my mind, which makes a huge difference for clients. If I run into a problem, I let them know and always encourage them to call me 24/7 if anything is troubling them.”

An Old Fashoned Approch

He also isn’t shy about expressing his appreciation to them. “When I deliver policies, I thank them for their business and trust,” Snyder says. “I tell them it means a lot to me.” Apparently, clients like Snyder’s old-fashioned approach. They reward him with a stream of referrals, which have made other forms of prospecting, including seminars, irrelevant.

But being decent to clients is just one reason for Snyder’s success. The other is an incredible ability to stay focused on goals, even at the age of 65, when he no longer needs to work. “If you break down your goals and keep in front of people, you will succeed,” Snyder says. “There’s no secret to this. You just need to ask for the business.”

Of course, having almost four decades of industry experience doesn’t hurt. Snyder came out of the army in 1964, returned to Indiana, and became a conservation officer with the state. But he had always been intrigued with financial matters. So he decided to get into the insurance business with State Farm. But he eventually felt constrained. “My hands were tied with one company,” Snyder explains. “I wanted more resources so I could do a better job for my clients.”

Snyder cut the cord and set up his own property-casualty agency. In addition to the standard P/C products, his agency also provided life insurance and investments. Over the years, the non-P/C operation took on a life of its own, which led him to explore that path exclusively. At one point, his financial services business had 13 employees. “But I just got tired of managing people,” Snyder says. “About five years ago I went back out on my own.”

Snyder may be alone on paper, but in reality he has affiliated with two organizations that have allowed him to scale new heights. The first—Ann Arbor Annuity Exchange—has been a huge help. “Ann Arbor’s backing has been tremendous,” says Snyder. “They bend over backwards to help me. Whenever I run into a little problem, they take care of it.”

Winning People's Trust

The other organization is the National Ethics Bureau. “I talk to people every day about transferring $300,000 or $400,000 or even $1 million into annuities. This is their life savings, so they’re understandably nervous. But when I explain my NEB membership and encourage them to call NEB to check me out, it really puts them at ease. NEB has made a big difference in my ability to win people’s trust.”

At the end of the day, though, one senses that Snyder is pretty good at winning trust by just being Terry Snyder. His commitment to treating clients right and responding immediately to their problems demonstrates his passion for running an ethical business.

“Ethics is all about how you feel about yourself,” he says. “ You don’t want to be looking over your shoulder all day long. You want to do things in the proper manner.”

How are you maximizing your NEB membership to grow your business? Would you like to be featured in our newsletter? The National Ethics Bureau welcomes your input. Send your comments to: hlew@ethicscheck.com