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When doing Financial Road Maps® for existing clients, I know they are not going to be going forward when I get to the Commitment to Hire™ because I know what they have in assets. Is it important to still proceed as if I didn’t know? And, should I be doing Financial Road Maps® on these people.

Article ID: 301

Last updated: 20 Nov, 2019

First of all, one of the common experiences of advisors getting started with Values-Based Financial Planning™ and doing Financial Road Maps® is that they discover clients have money elsewhere that could make them Ideal Clients, so do yourself a favor and do not assume you have all their money or even know where all their money is. Have them come to the Financial Road Map Interview™ appointment, with both spouses, and bring all of their financial documents.

There is a clear pause between All The Money Conversation™ and Commitment to Hire Conversation™. If you do not want to be hired, do not offer to be hired. Just tell the truth about why you don’t believe you should be their Financial Advisor and give them advice about what do next. It could be a referral to another advisor or guidance to connect with quality Do-It-Yourself resources. Not everyone is supposed to be working with you and not everybody is supposed to be working with a Financial Advisor at all.

Please click the attachment below for Bill Bachrach's audio version of this answer.

Attached files

Doing FRMs with Existing Client who do not have assets to pay.mp3 (2.26 mb)

Also listed in

Commitment to Hire Conversation™

Commitment to Hire Conversation™ -> Commitment to Hire Conversation™ Misc.

Commitment to Hire Conversation™ -> Disengaging from Non-Ideal Clients

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