During my first meeting with existing clients, I have a short Old World New World™ discussion. After asking them if they have any questions, I move into the Financial Road Map®. A number of clients, however, during Commitment to Hire Conversation™, still have significant questions related to the Old World. In fact, they clearly trust me more and are more willing to ask the "hard questions." How should I handle this?

Article ID: 71
Last updated: 20 Nov, 2019

It’s perfectly acceptable for clients to ask the “hard questions” during Commitment to Hire Conversation™. If the clients have questions that need to be answered before they hire you, you want them to ask those questions before they hire you.

If they do hire you after having their “hard questions” are answered, they are much more likely to actually implement at the Implementation Meeting. Their questions are also a very important opportunity for you to gain more insights about them so you can make a good decision as to whether or not you want to be hired.

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b I am new to Values-Based Financial Planning™ and under my organization I do not yet have a Deliverables Team. We are in the process of creating it but it may be months to a year down the road as an organization. How do I build a plan in the meantime that will create or show how my quoted fee or desired fee of $5000 per year is paid or able to be paid by the client?
b 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?
b What should I say to survival clients after I conduct the Financial Road Map® and they do not fit my Ideal Client Profile, but I intend to keep them for survival revenue as I build my Ideal Client Community?
b I am struggling not discussing an ongoing fee in Financial Road Map® Meeting. During this conversation the clients ask me how much? The Financial Road Map® Meeting has been around 45 minutes so far and going well. I say $5,000 for the initial plan. They say what do you get? I then run through my 2 page letter of engagement which outlines upfront and ongoing service offering and takes another 45 minutes. After 1.5 hours I feel like the clients are tired and the "would you like to proceed” has lost its presence because of the meeting time. How do I avoid this? I would love to skip the letter of engagement all together, should I just briefly talk about deliverables team (which I have) best-in-class Subject Matters Experts. I am also struggling to understand in the Implementation Meeting how to address the ongoing fee is $1k-$3k per month and not go over the plan in any detail.
b 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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