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Should I record all meetings, not just the Financial Road Map®?

Article ID: 379

Last updated: 20 Nov, 2019

Yes

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As a "newbie" to the Bachrach & Associates process, I have been told that the focus of this initial part of my education is on the Financial Road Map® presentation. However, assuming the success of my training, I will be getting clients. EXACTLY what is it that I can offer these people that I can deliver on that is consistent with the Bachrach & Associates training?

How do I handle the following situation: We had a minimum before BAI of $500,000 Assets Under Management that was typically waived for referrals from current clients as these clients were easy to "close". If we tell our new referrals that we only work with Ideal Clients who pay us a retainer of $15,000 and 1% on Assets Under Management, they may be left with the wrong impression that the non- Ideal Client who referred them is a very large client.

Someone asks me, “What do you do?” After I answer the question, what questions (impactful or otherwise) can I ask that would evoke an emotional response to move things forward?

I realize mine is not the optimal model, but until I actually get an Ideal Client and transition to referral only, it is the one I've got. Here is my situation -- I've met with a few attorneys since my return from the Academy, actually took out the Financial Road Map® and tried to get them to go through it with me [they all refused and I do not expect that to change] but they all were intrigued enough with what I was saying to ask me for the words for them to use [most likely in an email] so that they could tell their clients about me and give them the chance to contact me. No, they will not give me their clients' names for me to contact directly; nor will they send the VBFP book/Road Map to their clients on my behalf. They want a short blurb on what I do, what makes me appealing/different, etc. so that THEY can make the INTRODUCTION/REFERRAL. I've learned from the Financial Road Map® Interview that what we say, how we say things, the language we use, etc. are all critical to the rapport building. So, with all that in mind, what words would you suggest I put before the attorneys so they can make a "warm" third party referral without having experienced the Road Map first hand [again, they won't do it, but I am confident they will make introductions].

Under my current model, there are different means of compensation, depending upon the deliverable (I.e., planning fee, % of AUM, insurance commission, other). It seems that the planning fee would logically be part of the Commitment to Hire. When would the other pieces be brought into the discussion?

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