In the Commitment to Hire™ script you say, "Would you like to hire us to create this plan for you?" I'm assuming that, as a solo practitioner with one administrative assistant, I'd say, "Would like to hire me" not "us." Or is there a reason to say "us"?

Article ID: 69

Last updated: 20 Nov, 2019

There’s no such thing as a Trusted Advisor “solo practitioner.” You can’t possibly deliver on the promise you made during the Commitment to Hire Conversation™ by yourself.

The “we” includes the Subject Matter Experts who comprise your Deliverables Team and are going to provide the actual advice to you about insurance, taxes, asset management, estate planning, and so on. It’s the people who help you write the plan, or use the software to write the plan, and the back office people who make everything happen from account transfers to underwriting.

Also listed in

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

« Commitment to Hire Conversation™

During my first meeting with existing clients, I have a short... »

Others in this category

What is the best way to handle a Client's hesitation due to fee amounts during the Commitment to Hire Conversation™?

In a Financial Road Map® with a potential client we got to Commitment to Hire™. The husband said that he had a pretty good handle on everything and most of their finances were in his head. In going through what we do, I saw many flaws in their financial plans. In the end I asked the question regarding, “on a scale of 1 - 10…” The husband was an 8 and the wife was a 6-7. What would you say when you can see many flaws in a prospective client’s current planning and when there is a difference in the partners’ opinion on their financial house position? The husband is a lawyer and after hearing your latest webinar can understand why they may not be good fit. The husband said they needed some planning but not at the fee I had set. The potential clients could see the value for “certain people” for this service however cost seemed to be a major issue for them. These people fit my Ideal Client Profile.

I wondered as an advisor who primarily was operating using asset-based fees if you guys have any templates or samples of the contracts which an advisor might use if he wished to switch to a flat annual retainer, which I know Bill recommends. When I set up my RIA firm the compliance firm drafted all my contracts and ADVs etc. using asset-based fee terminology and language. I just wondered if you might have a sample or template of what a client contract might look like for an annual retainer practice?

How do I better describe my value? One potential client thought he was already living out many of his values and thus enjoying his ideal life. How do I describe that what I do provides incredible value even for the person who enjoys managing his own investments and has enough money and time to take plenty of vacations?

I have been running a "quarterback" model business for the last few years so hiring me to do what I’ve already been doing BUT much better shouldn’t even be questioned. However, most clients I have on a AUM fee, discretionary agreement. I'd like to present a new "flat fee" discretionary agreement, with formalizing me as the Trusted Advisor. Do you have an outline of items recommended in the agreement or examples I can give my attorney to create one for me. AND should I use the Commitment to Hire part of the Financial Road Map® meeting to have them sign to commit?

» More articles