After the initial Financial Road Map Interview™, when do I collect more details from the client to put together a detailed implementation plan, which is the next meeting, if the person becomes an Ideal Client? The Financial Road Map Interview™ does not collect the detailed information needed for a detailed implementation plan.

Article ID: 302

Last updated: 20 Nov, 2019

If they bring ALL of their financial documents to the Financial Road Map Interview™ and answer all four pieces of each goal you have almost everything you need to create their plan and prepare for the Implementation Meeting™. Do not waste their time asking them to fill out data in fact-finders for info like their Social Security Number when that information is contained in several of the documents they are leaving with you.

If you need to do things like a risk tolerance questionnaire you have 3 choices to get that done:
1. Immediately following Commitment to Implement™.
2. As a homework assignment which they complete and return to you, preferably online.
3. During a phone appointment between the Financial Road Map Interview™ and Implementation Meeting™.

It is common to speak with your client on the phone or communicate by email between the Financial Road Map Interview™ and the Implementation Meeting™ as you and your team are working on the plan to prepare for the Implementation Meeting™.

Also listed in

Financial Road Map® Misc.

« I recently met someone and did a self-referral. We completed...

I had a client who referred three friends to me at an... »

Others in this category

I recently asked an Ideal Client to commit to the 3 meeting process by putting our next 3 meetings on the calendar. She replied, "Honestly that's hilarious! I don't even know what next week looks like". She left our meeting with only the next meeting on the calendar but I would like to get the other 2 meetings on the calendar. My reaction is to explain that to deliver comprehensive advice; that it helps to be totally organized with all my deliverables team well in advance. Is there any way to approach the comment or think about her response?

I have several existing clients and prospects that have zero debt and range typically from $3-$10 million in liquid net worth. Many of them have believed in “Term and invest the rest” mentality and therefore don't like to discuss insurance needs and their term policies have expired. By this, I'm referring to clients who are past the accumulation phase and confident in their mind that they have been adequately insured and no longer need much insurance (I realize this may not be true), and have the notion typically to only buy term and put the rest of their money into savings. When we get to the Commitment to Hire Conversation™. Many of my existing clients have zero debt, more cash then they need to have sitting around (I realize this needs to be addressed), and don't feel they need much help with insurance. Therefore the step-by-step plan addressing these four areas only has one area where they typically want, or feel, they need help in creating a plan. I'm curious if it would it make sense to change the "What you get” discussion to something that could provide a little more value than the 4 bullets currently in the script? Can you please tell me perhaps a different word track then the Financial Road Map® script since two of the four areas are not of much interest to these types of clients?

Prior to hiring Bachrach & Associates, Inc., I had already created several of the deliverables on an annual basis for clients. I have been charging between $500 and $1,000 for this type of planning in addition to AUM wrap fees. Can you help me gain clarity and perhaps some verbiage on why a current client should pay 2x-3x times what they are used to?

When clients don't bring in any financial documents how do you handle the ..."so this is what I've come up with" part of the Financial Road Map Interview™?

What do you think of this scripting when the prospective clients are talking in great detail: “I appreciate that you want to tell me the details about this, and should we decide to work together professionally, I will need to know more. For the purpose of this exercise, however, I just need to summarize the facts. I have 8 minutes budgeted for this. Would you be willing to give me a few minutes to go through your documents?"

» More articles