WALSENBURG — David Tesitor, CLU, owner of DATCO Insurance Consulting, is celebrating a milestone of sorts. This month marks his 18th year in Walsenburg, which is half of his career in the insurance business. After doing business in the Denver area for 18 years, the family decided to relocate back home in 1998, where David and his wife Mary Jo grew up. When the opportunity arose to purchase the family farm where Mary Jo was raised, they jumped at the chance to move.
Tesitor Financial Services and DATCO Insurance Consultants is an independent insurance brokerage and financial services firm. Their mission statement simply states “our goal is to assist our clients in attaining their personal financial goals by listening to their needs and establishing a plan to meet their visions. Our philosophy is to have a dialogue with our clients and offer competent and practical advice to help them meet their financial goals.” This is done through the many insurance contacts DATCO Insurance holds and through his role as a registered representative with SCF Securities, Inc., which offers a wide portfolio of mutual funds, variable products, alternative programs and financial services. He estimates his book of business to include almost 1,000 clients.
Tesitor began his career working for a large insurance agency in Denver on January 2, 1980. At the time, he sold mainly life insurance to families and small business owners. From there he diversified into selling employee benefits and group medical. He felt the captive agency system was limited to what he could offer his clients, so he earned his broker’s license in 1982 and left the agency to go independent.
“It was one of the best decisions I made at that point in my early career,” Tesitor says. He was able to expand his services, offer a wider portfolio of products and serve his clients better. In 1987 he obtained his securities license and began offering mutual funds. He is now licensed to offer funds, stocks, bonds, alternative investments, and other financial products to augment his financial planning practice.
Tesitor says the entire industry is evolving and the cost of life insurance has dropped to record lows. “When I sold a $100,000 policy back in 1980, it was a big deal. Today, million dollar policies are common place and are less expensive. I recently sold a $2 million policy to a 39 year-old client for $1,200 a year.”
Tesitor also offers a full menu of services, including disability insurance, long-term care, variable and indexed annuities, whole, indexed, and universal life insurance, and hybrid insurance products. “It used to be I’d go out with an application in my briefcase and a rate book and legal pad to sell,” he says. “Now, with the sophistication of computer software, I go out with my laptop and can process applications on-line.”
When Tesitor moved back home, his business took a turn for the good. With the changing insurance environment and securities laws, Tesitor expanded his market to include senior sales, offering Medicare Advantage and supplemental plans and prescription drug plans. He has also embraced the Affordable Care Act and helps individuals and families navigate the complex world of “Obamacare.” While he still does financial planning, his love is problem solving, finding solutions to life’s everyday problems. For solutions to your financial dilemmas, stop by DATCO Insurance, 505 Main Street in Walsenburg, call 719-738-6830 or contact Dave at email@example.com