At Work With Art Kestenbaum Agency
April 11, 2008
Name: Art Kestenbaum Agency
Type of business: Insurance Agency
Address:
Telephone: (732) 878-0100
Web site: www.artkestenbaumagency.com
Number of employees: 2
Founded: 1998
Top officers: Co-owners
Art and Wendy Kestenbaum
How would you describe your business?
"Our business' mission comes down to one very important function: protecting our clients' assets," said Wendy Kestenbaum, co-owner of the Art Kestenbaum Agency.
"We all work very hard for what we earn and there are many things that can jeopardize our financial security and that of our loved ones. Unexpected occurrences such as illness, disability, need for long-term care, death or a drop in the stock market, such as we have seen over the past year, can destroy the wealth that we have built up over the years.
"The products we offer — health, life, disability, and long-term care insurance, as well as retirement plans that are guaranteed to never go down in value, give our clients great peace of mind.
"We are an independent agency, meaning that we are not locked into placing your insurance with any specific company. We can shop all the major carriers licensed in
What makes your business special?
"There is no fee charged for any service we provide.
"We know that every client's situation is unique, so we give the utmost personal attention to each client, offering them the correct products for their situation. We visit most of our clients at their home or business, so they don't have to take extra time out of their busy schedule to come to us.
"We maintain regular contact with our clients to monitor their situation to see if things have changed and their plan needs to be modified. We believe we need to be available at all times and encourage our clients to contact us out side of normal business hours or contact us on our cell phones to discuss any urgent matter."
What goals do you have for your business?
"We want to be known as the agency which gives the most personal attention to those who are often neglected by the large agencies — small business owners, individual families, and seniors. We especially want to be ready to serve the baby boomers who will begin turning 65 in three years. They will often need assistance in picking the correct Medicare plan and need to protect themselves against long-term care expenses and downturns in the equity markets."
How has your business changed?
"When we first started we were primarily a small group health agency. Over the years we have become more of a full-service agency in the areas of health and life insurance. We also have protected many clients' retirement funds in safe annuities that guarantee all their money will be there when they need it."
What was your most important deal?
"We don't do deals. We explain to every client what products are available to address their needs and the client selects the solution best for them. Every client is important to us, because without them, we don't have a business."
What changes do you expect in your business in the next 10 years?
"First, we have to be aware that the federal government could take over health insurance which would effectively put us out of that business. Secondly, the huge number of people turning 65 and going on Medicare over the next 20 years gives us a big opportunity to advise those people as to the correct Medicare plan for them. Medicare is complicated, and new retirees need someone knowledgeable to explain their choices to them."
What is the most important thing you've learned in your business?
"Don't try to sell anything. We are advisors and our job is to explain the various options to our clients and have them choose what fits best for them."
What advice would you give to someone considering your line of work?
"If you don't thoroughly enjoy meeting and helping people, it will show and you will not be successful. You also have to deal with a fluctuating income, with no guarantees. And you have to be prepared to work long and odd hours. You have to be available when your clients need you."
Is there anything else you would rather be doing?
"No. Our only regret is not getting into this business sooner. We were in different professions. Many of our clients have become good friends and there is nothing more rewarding than a client saying ‘thank you' when we should really be thanking them for our trust."