I feel like prospecting when you do solely insurance has to be different than if you are prospecting for a major wirehouse…

Any suggestions?

  It is different.  With a wirehouse, you need to prospect for people with $250,000 of investable assets.  With life insurance, you simply need to prospect for people who care about someone else.  Of course, if they don't care about others, there is still DI and LTCi.  The bottom line is that prospecting is MUCH easier for someone selling insurance.  An all referral business can be built pretty quickly on the insurance side, but it's very difficult to do on the wirehouse side.   Use friends and family as an example.   At a wirehouse, most of these won't be legitimate prospects.  With an insurance company, most of these people will be decent prospects.   In the past, I've used the example of your young attorney friend who just graduated from law school.  At a wirehouse, he's not a prospect.  With an insurance company, you'll have him buy life insurance, disability income insurance, set up a Roth IRA, and put money into savings.   You'll put $2000 into your pocket from him (from the initial sale).  Additionally, he'll refer you to a 10 of his friends...all of whom are decent prospects.  At the wirehouse, he wouldn't become your client, and none of his 10 friends are legitimate prospects.
 

Lets say I have exhausted my family and friends…

  Don't exhaust them.  In the beginning, it doesn't matter if F&F become clients.  What you need from them is referrals.  From these referrals, you need more referrals.  From those referrals, you need more referrals, etc.   If you learn to get referrals, you'll never have to do anything cold.  (That doesn't mean that you won't choose to do things cold for strategic reasons.)   The most important thing at every meeting is referrals.  DO NOT WAIT for someone to become a client to get referrals.