The Suit Magazine

Often the best approach for someone looking to start their own business is to sit down and review what they can bring to the table. For Michael Sterling Smith, that included a deep expertise and a vast web of connections in the business community. Now the owner of life insurance provider Sterling Financial Services, Smith has found a niche that allows him to make the best use of his talents.

“Having been CFO of a very visible company in our community, I had access to business owners. With my experience from the other side of the table and having helped train many insurance reps calling on us over the years, my clients had a strong comfort level working with me and the insurers felt comfortable with my representation,” Smith explained. In 1986 he became a minority owner of a local insurance agency, building the company's Benefits and Life Division. Ten years later, Smith exchanged his minority interest and split the division off, incorporating it as Sterling Financial Services.

The economic downturn has had little effect on Smith's life insurance business. “Clients feel vulnerability when things slow down and pay more attention to their planning. With the market down, my old-fashioned life insurance products are looking very good,” he said.

Sterling Financial Services is currently in the process of forming an alliance with another company. “They’ve found a real niche, and Sterling Financial will provide a new avenue for their growth,” Smith said. “I will be able to mentor and help them develop something far more successful than I could do on my own. A good alliance is when everyone grows and prospers.”

www.sterlingfinancialservices.net

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