Related Posts
Rising Star
Awkward client lunches are the best with 12 people👌🏼
Conversation Starter
Chief
Crisis Management in Project Management
More Posts
Subject Expert
Happy Saturday all!
Chief
Cdk global or tcs ?
Cdk 20LPA tcs 15.5 LPA
Rising Star
Additional Posts in Financial Advisors
6 week cram sesh for CFP. Any recommendations?
What are the top books you recommend to read?
Get data upfront, run numbers prior to meeting. Cuts the process down to one meeting, many decide in that first meeting, many also move forward a week or two later.
Generally an intro call or coffee to catch the backstory and briefly talk out process. Then if it’s a fit I do an in person “fact gather” at a place convenient for them. Finally a third meeting occurs at my office to present the plan and solution. Lastly a phone call if needed or another meeting if they feel the need occurs to answer any questions and talk next steps. Then acats!!
I’m a relational guy so I prefer the few meetings to really get to know them. We also are at a point where we are interviewing them (not everyone gets in at this stage of my career) so better to make sure they are a right fit for us. Think of if you were hiring an employee that you may work with for 20 years. Would it really take one meeting to make a decision. I would hope not
IIA1, how do you get them comfortable enough to give all their financial info right away? And then once you have the info, what do you do with it to create the perfect proposal?
I tell them it’s best to have data to make the best use of our time. Most people ask what they need for a meeting, so it’s natural for them to give info. I have good credentials, experience so that helps. Some people bring it with them (instead of advance), which is fine but it creates an extra meeting step. I can run a plan in about 20 minutes, so it’s not a huge amount of time to run it. I’ve done it in meetings before and it impresses them. They appreciate it big time - I used to wait until they signed to do this - but I’ve got way more closes right away and winning if I’m competing.
As far as personality combos. I can tell pretty quickly what the client is like, high maintenance or not etc. what I’ve found over time is that if you set good expectations for communication and respect early on, even needy clients get trained quickly. My typical service model is email communication and one face to face per year, so it’s not like I’m spending a ton of time with each person. That said, I give them a lot of time in meetings which usually run 1.5 - 2 hours, and I integrate our personal lives depending on the client. I haven’t lost a client yet but the markets been hot.
Perfect proposal: when they can retire. Same risk, more reward for their investments compared to current including fees.