Sign in

Ask a Question | FAQ Home |

Browse by category

Given that we currently do not charge any fees for preparing a plan (although maybe we should) How do you gain commitment from someone that has no assets to move to us until they retire a few years down the road?

Article ID: 176

Last updated: 20 Nov, 2019

Keep in mind that you are building an Ideal Client Community. Wouldn’t a person who meets your Ideal Client Profile be able to pay you… right now?

Also listed in

Commitment to Hire Conversation™ -> Ideal Clients v. Non-Ideal Clients/Survival Clients

« What is the most appropriate way to handle situations where the...

How does one “politely disengage” from existing clients with... »

Others in this category

Can you clarify when to give a Values-Based Financial Planning™ book to an existing client? I set appointments with existing clients and do the Old World, New World introduction and then the Financial Road Map®. Should I always give the Values-Based Financial Planning™ book to the clients if they hire me?

Is there a point at which I don’t request an Financial Road Map with existing clients (accounts too small, don’t want to work with them, etc).

What is the course of action if the Ideal Client agrees to move forward after the Commitment to Hire Conversation, but does not carry a check-book (very few people these days do)? Are documents accepted? Is the follow-up meeting planned? Work started? Etc.?

I recently completed a Financial Road Map® for a referred couple. At the end of the Commitment To Hire Conversation™ they enthusiastically said ‘yes’ to hiring me and we completed the paperwork to get things started. I am not sure if my answer to the couple’s next question was the best response: The client said, "You know I'm the President of Bradford Christian Academy, and as such I need to make financial decisions every day. One of the things we review on every purchase or project and this includes consultants who we bring in from time-to-time. One thing we look at is our Return on Investment. Since the services you provide are not necessarily financial, other than portfolio performance, how would we determine the dollar value of our business together to use to determine the Return on Investment on the relationship?" My response was, "Well Vicki, you and Bob do not have any plan in place now for retirement, college financial planning, and other major purchases, which is what has brought you to this point in our meeting. You are also concerned with your portfolio and how it is invested because neither of you are professional investment people and you're looking for help in that area. You have big dreams and values and right now are not sure how you will achieve them with your current process. So I guess I would ask you, what is the value, monetary value, you would place on a comprehensive plan that would give you the peace of mind to rest knowing you have a plan to give you the highest probability to achieve these items on your road map regardless of what happens in the world?" I felt guilty because I turned the question back to them and they said they would have to think about that answer and hadn't thought about it that way. Do you have a better answer that you would have used? I feel that I did not really answer their question, but I am not sure I could have come up with better answer than that.

I have a prospect who says that they want to come on board with me but that they can’t out of loyalty to their existing advisor. What should I say in my script for this situation?

» More articles

Powered by KBPublisher (Knowledge base software)