The Life and Legacy of Al Granum

Many people know Al Granum, CLU® as the creator of the 10-3-1 prospecting method, a simple system which greatly increased the productivity of insurance agents to grow their business. But Granum was also tirelessly committed to elevating the professionalism of the financial industry, a living example of what it means to put the client's interests first.

Early Life and Military Service

O. Alfred Granum was born just a few years before the Great Depression in a small town in northern Wisconsin. He was passionate about education, conducting his studies at the University of Wisconsin-Madison where he graduated Phi Beta Kappa in 1943, simultaneously earning his BA and MA in Life Insurance.

After graduating, Granum served our country for three years by joining the U.S. Navy during the height of World War II.

Setting Records at Northwestern Mutual

Upon returning home from the war, Granum contracted with Northwestern Mutual in Amery, WI, the company with which he would establish his legacy. After just eight years as a life insurance agent with Northwestern Mutual, Granum qualified as a life member of the Million Dollar Round Table.

In 1963 he was appointed managing partner in Chicago, IL. During his tenure in this role, his agency with Northwestern Mutual became the first office in the industry to write more than $150 million dollars of new business in a 12-month period. They were ranked first in company volume and/or premium a staggering 37 times. And Granum qualified 42 of his 45 agents as Million Dollar Round Table (MDRT) members.

Creating the One Card System

It was during this period that he conducted his groundbreaking research, which ultimately led to the development of Client Building and the One Card System. This ingenious system is a proven track to success for financial services professionals – providing both the art and science of building a clientele. It is arguably his most influential and important contribution to the industry.

Understanding that client growth was most likely to result from a long term, data-driven approach, Granum required the agents he was working with to keep detailed records on referred leads (tracking cases opened, closed, and business submitted). The data was compiled manually. Computers for such tasks were still a long way off.

In the first 10 years, they were able to process good records on more than 50,000 referred leads. Research showed that every ten leads processed would generate three prospects, and one of those would become a client. This 10-3-1 ratio was confirmed by the data Granum and his team compiled over the next 15 years on 150,000 “suspects.” Remarkably, the ratio stayed the same no matter how experienced the agent became.

Elevating the Industry

After 23 years Granum retired from his managing partner position, but he continued his work – traveling around the world to teach his Client Building system to help strengthen the profession on a global basis.

Granum received the Dennis Tamcsin General Agent Achievement Award in 2000 for his lifetime impact on Northwestern Mutual. He was awarded a Chair in Practice Management at The American College, endowed to him by his peers in 2001, making him one of seven to be recognized in this way in The College’s history. The National Association of Insurance and Financial Advisors (NAIFA) presented him with the John Newton Russell Award for outstanding service to the institution of life insurance in 2002. One year later he received The American College’s highest honor, the Huebner Gold Medal.

Establishing the Granum Center for Financial Security

In June 2012, to honor his legacy and commitment to lifelong learning, The American College of Financial Services, supported by a generous contribution from Northwestern Mutual, formally launched the American College O. Alfred Granum Center for Financial Security. Emboldened with Al’s passion for the profession and pursuit of the truth, the Center champions financial security, seeking to strengthen and grow the profession through original, cutting-edge research, thought forums, webcasts, and advisor resources.

An Enduring Legacy

It's been said of Granum that regardless of all the accomplishments and accolades he received, he was rarely driven by recognition. The greatest leaders of our time are those who are motivated by a passion that plaques and awards can never inspire. Fortunately, Granum left many disciples who continue to share his principles with the next generation–teachings that are timeless and continue to have impact around the globe.

Al Granum, CLU® is a legend in the financial services business. His client building system has impacted countless financial services professionals. His legacy lives on—in the American College O. Alfred Granum Center for Financial Security, in the countless publications which cite his research, and in the lives of those he has impacted.