When I have a phone consultation with an individual or couple, and I ask, “What do you think the value would be for you to have a complete Financial Road Map®?” They often give an answer that sounds more like the benefit they would get from having a complete financial plan (not just a Roadmap). Should I say, “That sounds like a benefit you would get from having a complete plan? What would be the value to having just a Financial Road Map®?” Or should I just let it go?

Article ID: 233

Last updated: 20 Nov, 2019

Is there much of a difference? I suppose I would have to hear what they say exactly. My gut feel is that they are saying something positive about getting their financial house in order and that’s a good thing.

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When prospecting to friends, frequently a friend will say that they don't want to work with me because I am a friend, that they would rather work with someone who isn't a friend. I have tried to get past this by suggesting that an adviser is all about trust, and it is easier to develop trust with a friend. However, this doesn't seem to work. The concern seems to be not wanting to disclose personal finances to a friend.

For several years I have run an annual review program for all of my clients. As such this is something they have come to expect, generally around the same month each year. As I look to introduce the new world to them, including the values conversation, I seek assistance in terms of a script that clearly articulates the improvements to my service, as well as the road map conversation. For many years clients have received a circle chart and progress reports as part of my existing review process, so some of the ‘new world’ is something they will not perceive as added value. I am keen to introduce Values-Based Financial Planning™ to existing clients, outline to them the new direction of my business and that I invite them to be a part of this. I am struggling with a script to clearly differentiate the added value of the new world to them. Prior to their next scheduled review, as succinctly as possible, I would like to introduce the idea, outline an overview of the conversation we will have BEFORE we then run their standard annual review. Where clients realize the new world is for them, I would immediately slot them into the next space on my 3 meeting process schedule rather than run the review meeting. Everyone else I am obliged to run the review meeting and put the exercise down as practice, complete the work that comes from the review meeting itself and then see them in a year’s time. Either way, I am not sure how to best articulate the conversation. Could you suggest some ideas for a script to help me keep on track and ensure I best communicate the added value?

What language do you use to set up a Financial Road Map® with prospects?

We scheduled a Financial Road Map® Meeting with an existing client over the telephone. A few days later they responded with the following: "Good Morning Shelby and Dean, we have decided that we will not participate in the Financial Road Map®. At present, we feel that one plan is enough. Thanks for taking the time to discuss this with us.” How would you respond to this client?

Does adding the following phrase to the, "What do you do question," change the impact or sound too salesy? "I own a Values Based Financial Planning Firm. We help our clients enhance their quality of life by getting their entire financial house in perfect order and keep it that way forever.” The addition seams to add clarity to the, “What do you do,” question.

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