Photo by Joshua Kristal
A Long Climb
From the basement to the penthouse,
Robert Schechter has watched his business grow.
SUZANNE CHESSLER
Special to The Jewish News
I n a high-rise Southfield office
with a panoramic view, Robert
Schechter works at selling finan-
. cial products, from insurance to
employee benefits packages. His
clients mostly are entrepreneurs.
The climb to that office with a view
represents 26 years of business growth
for what has become Schechter and
Associates.
Since starting out as a one-man
operation working out of his home
basement, Schechter has moved up to
a client pool numbering in the hun-
dreds and served by a 15-member
staff.
Schechter, who left an engineering
career to sell New York Life policies, is
being recognized by the company that
transitioned him into the financial
products business.
Because of his record sales volume
last year, including contracts in excess
of $10 million, Schechter automatical-
ly becomes president of New York
Life's Chairman's Council.
"My primary responsibility is repre-
senting New York Life at sales meet-
ings," said Schechter, who sells prod-
ucts from other insurance companies
and mutual funds as well to broaden
services for clients. "I address groups
of New York Life agents and answer
questions, and I try to inspire and
motivate. I tell other sales people I
think it takes a great deal of empathy,
creativity and product knowledge to
be successful.
"It also takes a body of knowledge
to recognize how insurance fits in with
overall business plans, and it is very
necessary to make buyers feel comfort-
able that they have the right products
in their portfolios."
Schechter's first life insurance sales
were made to people whose names he
obtained from the Oakland County
Courthouse, when they registered for
new mortgages.
"The growth of my business truly
has been an evolutionary process,"
said Schechter, age 60. "I was doing
100 percent cold calls. I'd get the
names, look up phone numbers, try to
reach people, make appointments and
then sell.
"I spent a couple of years doing that
and found it very rewarding. I learned
a tremendous amount while taking
names from random lists and turning
those people into client-friends who
benefited from what I did."
Keeping up with industry develop-
ments and clients' needs was critical to
50 to 100 percent of their businesses
the expansion of Schechter's business,
and have five to 1,000 employees.
which gradually included group insur-
The biggest change Schechter sees
ance plans for small companies.
in the insurance industry is insurance
"This time, I used direct mail and
being increasingly used as a financial
then followed up with calls," he ,
planning tool by the professional com-
explained. "The small groups referred
munity.
me to bigger groups. I would meet
"A lot of that is attributed to the
accountants who sent me to others,
fact that policies have become much
and I met lawyers who introduced me
more competitive over the last 25
to pension plans. Now I find new
years," he said.
clients through referrals 100 percent
"Between the products becoming
of the time."
more efficient every day and the tax
Schechter has tapped into
benefits associated with them,
they have consistently risen as
family resources as readily as
Robert
• business resources. He learned. Schechter 's office part of the financial planning
process."
about the New York Life
overlooks
Schechter advises people shop-
business from his brother,
Southfield
ping for financial services to
Ronnie, and now employs his
seek second opinions from
brother Neal on a part-time
professionals with expertise in the field
•
basis. His son-in-law, Jason
before making a final decision.
Zimmerman, recently joined the firm
"That is the check-and-balance sys-
as a full-time employee.
tem," he said.
"My organization is really here to
Schechter carries his own business
support my sales efforts," Schechter
expertise into the Jewish sector by
said. "There are no other sales people."
helping clients establish charitable
Schechter's business is divided into
foundations that can benefit the com-
three categories — 50 percent in life
munity and by serving on the boards
and health policies, 25 percent in the
of Federation Apartments and
retirement market and 25 percent in
Congregation Shaarey Zedek, where
group policies.
he also is affiliated with the endow-
Clients, with a turnover rate at less
ment committees. ❑
than 1 percent, include people who own
.
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