Price is the main consideration of broker/dealers in their selection of insurance and financial service carriers, according to a recent study. Service, speed in making underwriting decisions and back office efficiency are also major considerations.
The broker/dealer survey, and another on registered representatives, were commissioned by Prudential and conducted by Mathew Greenwald & Associates of Washington, D.C. They were released last month. The studies were conducted because Prudential is looking at what motivates broker/dealers and registered representatives to market financial products, said Edward J. Mills, vice president of Prudential Select Brokerage.