You can go into the insurance business to make money, or you can go into the insurance business to serve clients. If you do the latter, the former will come.
For Terry May , founder of The May group that was the sage advice he received from his mentor, Joseph Gill, general manager of the Paul Revere Insurance Companies. After initially "being dragged, kicking, and screaming into the insurance business in 1981. Terry grew attached to helping clients protect and secure their financial futures.
"Joe was the right person at the right time in my life." Terry recalls, "He was highly principled and he taught me what insurance is supposed to accomplish for the client. He taught me to be service oriented not commission oriented."
When Joe retired in 1991, Terry created The May Group and expanded into financial planning services. Angela Fleming, Joe's daughter, who worked at Paul Revere, joined Terry in the new venture as President.
In 1995 Terry met a banker and economist from New York University who was critical of the financial planning business. "He questioned why banks persuaded their clients to do the exact reverse of what made the banks wealthy." Terry recalls, "He proved to me that the way conventional financial planning normally works is detrimental to clients. It changed the way I thought about financial planning. I started to realize that most of the strategies pushed by financial planners made money primarily for the financial institutions, rather than for their clients. I had learned a better way to help clients and to help to get them where they need and want to be. It forever changed the way I looked at financial planning."
The May Group has grown since then and is much more than a non-traditional financial planning business, it's a family business that spans generations. Ron Fleming, Angela's son, joined The May Group as Vice President and Director of Business Development. Kim Larimer, Terry's daughter, has also joined The May Group as the group's Director of Marketing.