Bizwatch: Primerica Financial Services |

Bizwatch: Primerica Financial Services

Daily Staff Report
Vail, CO, Colorado
Special to the DailyThe local Primerica Financial Services team. Seated, from left, are Lori Fennessey, JP Kacy, and Martye Bailey. Standing, from left, are David Cope, Joaquin Garcia, Tom Larsen, Elby Cossette, and Ken Harper.

Business Name: Primerica Financial Services

Date opened: Primerica has been in business since 1977. Local service was started in 1999.

Owner: Primerica is a member of Citigroup. Tom Larsen and other local representatives are independent contractors.

Contact info: 471-5113

What services do you provide? We offer a complimentary financial needs analysis that covers the entire personal financial spectrum from insurance and debt to investments. Retirement readiness is often a priority, with so many Baby Boomers and anticipated weakness in future Social Security benefits. We calculate your “financial independence number” (the amount of money needed to replace your paycheck indefinitely). Our products include term life insurance, loans, and investments, including Scholars Choice, Colorado’s highly-rated, advisor-sold college savings program.

What strategy do you use to differentiate your business from your competition? Most financial services companies focus on wealthy clients. Although we welcome the wealthy, our focus is on hard-working, local families and individuals. Some of our competitors sell cash value life insurance and variations of cash value life insurance, but we have made a stand on behalf of the consumer and are the leading provider of term life insurance in the United States.

Another unique characteristic of our work is attention to personal debt and the many minefields consumers must navigate, from credit cards to risky mortgages. We are not stock brokers, so our investment focus is on high quality mutual funds and great tax shelters like the Roth IRA.

What philosophy do you follow in dealing with your customers? What can your customers expect from you? Our business is based on the philosophy that professional money management should be available to all people. We are highly service oriented and customer service experience is one of our strengths. The economic reality of life in Eagle County poses a tough challenge and we are willing to listen.

Our customers can expect us to treat small accounts as if they were big accounts.

A problem with financial literacy in this country is the likely cause of a growing divide between haves and have-nots. We are determined to build a larger investor class and stamp out paycheck-to-paycheck life. The fact is, some locals have built lasting financial security and with a little help, you can too.

Tell us a little about your background, education and experience: Primerica representatives come from many different backgrounds. Our business is highly regulated and representatives must meet continuing education requirements. Experience with real people trumps a classroom education every time and our firm has an excellent mentoring system. In fact, we are currently expanding in the area and are always looking for talented people.

What is the most humorous thing that has happened at your business since you opened? Many funny things can happen on appointments, but we strictly guard all personal information.

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