For Elite New York Life Agent Robert Petrocelli, Hard Work, Superior Service and NAIFA Membership Bring Success

dvisor Today interviewed Robert Petrocelli, Founder and Managing Director of Petrocelli Financial Services in New York City and a loyal NAIFA member since 1979. Like many NAIFA members, Petrocelli has received honors and recognition that differentiate him from his colleagues. He is the 20212022 Chair of the influential New York Life Agent Advisory Board of Directors (ABD), which, according to the company, “is an elite group of 16 agents who meet with the company’s executive leaders to provide their perspectives on corporate strategic initiatives based on their experience in the insurance and financial services industry.”

Advisor Today: How did you get into the insurance and financial services business, and what attracted you to this career path?

Robert Petrocelli: I was 24 years old and working for a big conglomerate while going for my MBA at night. After a year and a half, I was getting discouraged that my path up the corporate ladder was going to take forever unless the person in front of me quit or got promoted. A family friend was a recruiting manager for New York Life who told me that coming to work as a life insurance agent would give me a career and not just a job if I was willing to work hard.

AT: Can you tell us a little bit about your practice and how you serve your clients?

Petrocelli: My practice has two divisions, employee benefits, and individual estate and retirement planning and financial services. I first acquire a company as an employee benefits client, do a superior job of positioning all their benefit programs, service their needs and then get to work on their business continuation, SERP, deferred compensation and finally the estate planning and financial services for the owners, executives, managers and employees.

AT: What do you most enjoy about your business? What keeps you motivated?

Petrocelli: I have always been an early adopter and still am to this day. I enjoy learning about new concepts and products and how they fit my clients’ needs based on the ever-changing legislative landscape. Like most successful insurance professionals, I am a people person. I enjoy being out and meeting with my clients and friends. And although that’s been challenging for the past 18 months, those opportunities still exist both in-person and by Zoom.

AT: What are your core values as a professional? What is your mission?

Petrocelli: At my first MDRT meeting, life insurance industry legend John Savage took me aside when I asked him,

“What should I do to be a success in the life insurance business?” He said with a smile on his face, but you could tell he was serious, “Young man, the key to success is to work eight hours and sleep eight hours. Just make sure they are not the same eight hours.” For my entire career, when I say I’m going to work, I mean it. At Petrocelli Financial Services, LLC we have one goal that drives us: to over-deliver on every promise we make to our clients. It is the driving philosophy behind our team and all that we do. As a result of this single goal, it is our mission to provide our clients with expertise, knowledge and unparalleled service. We never pass our clients off to a random 800 number.

AT: What is your role on the New York Life Agent Advisory Board of Directors? What does the Board do?

Petrocelli: To qualify for the Advisory Board of Directors, a New York Life agent must have been a New York Life Council President (an agent can only be Council President once in their career) and continue to produce at the Chairman’s Council Level. To be the Chair of the Advisory Board of Directors for 2021 means that I had the highest first-year commission production of any member of the ABD. The Chair of the ABD acknowledges the highest level of production at New York Life for the Council Year ending June 30, 2021, outside of the new Council President. The Chair serves as an advisor to the President of the ABD, which is essentially a seat on the ABD Executive Committee. New York Life leadership calls on the ABD quarterly for advice and guidance or to give advanced notification of an announcement. The ABD members happen to all be friends that I have known over the years. We are like a super study group. We regularly share advanced planning ideas, so it has been a super career-advancing experience for me.

AT: How did you get involved with NAIFA?

Petrocelli: Being a member of NAIFA was a given when I made my first New York Life council. New York Life is a big supporter of NAIFA and the MDRT, so for as long as I can remember, I have been a member. NAIFA delivers on its promises. Without NAIFA providing education and protecting our industry, I am not sure what I would be doing right now. In my opinion, if an agent or broker makes their living in our industry being a NAIFA member is a must — not an option.

Are You a Missing Advisor?

Consumers make 70% of their decisions before they ever contact you by undertaking online research. If your digital footprint is non-existent, your prospect funnel may go the same way. NAIFA wants to ensure that this is never the case while you’re a member, so we’ve overhauled our consumer site found at www.financialsecurity.org, which houses our “Find an Advisor” search tool featuring you! The new directory search is powered by our new online community called NAIFAConnect. All members have access to the community, which includes the ability to customize your profile and add details to personalize it so that consumers get a better idea of who you are and your areas of specialization. To access the new online community, go to www.naifaconnect.org and login with your email address on file in our membership database. While you’re at it, make sure that your home address is accounted for and correct — it’s how we ensure that we have a member in every Congressional district so that we accurately report our membership when we go to Capitol Hill! If you aren’t sure, or need to update your contact information, please call us, live chat us or drop us an email at info@naifa.org, and we will happily update your information.