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The No-Traveling Salesman

by Mike McLaughlin

"Within five years, technology will obliterate the need for business travel." - an entry in The Big Idea series from Fast Company

The assertion is easy to dismiss, and would probably draw laughs in many of the traditional intermediary sales organizations in our industry.

But as I dined on my knees folded into an "economy-minus" seat for six hours on a recent cross-country flight, I began to think the idea has some teeth. Consider:

• Travel continues to be less appealing. Elevated oil prices have triggered rising airfares, not to mention ancillary costs, and a decline in driving across the country. Time spent in traffic has nearly tripled over the last two decades. And decent legroom in coach doesn't come free.
• Technology continues to improve. A wise former employer of mine is just one company using cutting-edge videoconferencing technologies to save millions and improve the quality of remote interactions.
• Companies increasingly think green. Nationwide cut its carbon footprint by 80% over five years in part due to reduced travel, and Calamos has constructed a certified green headquarters.

Less travel. Enhanced technology. Positive environmental impact.

The proliferation of hybrid wholesaling is just one way that these trends are manifesting themselves when it comes to selling to financial advisors. Maybe it's just the start.