How do you use the Financial Road Map® and what are the transitions when the Fact Find is not thorough enough to necessarily complete the plan? Or, how do I incorporate another discovery meeting into your process? Do others do this?

Article ID: 14

Last updated: 20 Nov, 2019

It’s not a separate meeting. The Financial Road Map® completely addresses their values in goals. And in most cases, everything else you need to know to create a comprehensive plan can be found in their documents. If, for some reason, they did not bring all of their docs they can mail them to you or messenger them to you after the Financial Road Map Interview™. In some cases a client may not have a specific number for a goal. For example, they may want a vacation home in the mountains, but not have a very good idea of how much it will cost. In this case, they have a homework assignment with a deadline to contact realtors in that area or go online to find out how much the house that meets their wants will cost. While you are creating the plan they are doing their homework and getting that information to you.

It’s also okay, immediately following Commitment to Implement™, to process some paperwork like a Risk Tolerance questionnaire. Keep in mind, that true, comprehensive planning gets implemented over a year to two years, depending on the complexity of the issues.

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After completing the Financial Road Map® Interview with friends to help me get more experience, they decided to get a financial plan done. I relayed the cost of completing the plan, but not the cost of an on-going relationship (as I was unsure that was the best time to have that discussion being fairly new to the process). I am meeting them Saturday morning to have a pre-planning meeting. What is the best practice for inviting them into my Ideal Client community at this point and discussing the annual fee (I am thinking $10K...this would be my first Ideal Client invite)?

I had a great Financial Road Map® this week however the length of the meeting was way too long. I went through four goals and on one goal the clients had a disagreement on what that goal would be; a retirement date or the option to work or not. We took some time to come up with an agreement on what that goal would be. Effectively, we created one date/goal for each partner. How many goals are ideal and what do you do when they disagree on a goal?

What do you do if someone shows up 15 minutes late for a Financial Road Map® meeting after having rescheduled twice?

I have done my first few Financial Road Maps® and 2 people were adamant against recording the meeting. Should I press on without recording or politely disengage with this client. Any suggestions on how to address these concerns beyond the script?

I have had a number of Financial Road Map® Appointments recently where the time of the appointment has gone to two hours. By the time I have thoroughly gone through the values of each partner and then cover their goals (in both instances this has been around 5 goals) and completed the All the Money Conversation™ and the Commitment to Hire Conversation™, it is going on close to 90-120 mins. I cannot see where there is time that we are wasting. There is little chit chat, however, at times, clients discuss some of their goals and that may take a little longer. I am not sure whether I am going too far with this. Can you please provide some comments around this or strategies I can use to reduce the time I spend on each Financial Road Map® Interview?

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