Presentation Flashcards
- Briefly summarize the main logical and emotional problems
- Explain what I do (brief and specific)
Go over solutions that will solve their problems
Ask a question (qualifying quesiton) if appropriate
- John, you know how you told me “insert problems” and because of that its making you feel “insert emotion”
Well what we do is….
And what this means to you is…..”insert logical benefits and advantages”., which will allow you to “describe specific benefits of service or product that meet emotional side of problem”
Does that feel as though it might be what you’re looking for?
Well, why now though? Or Why though?
Makes them sell themselves
Objections (or Concerns)
Look at objections as concerns or a few simple changes
IE: Price, timing, how they’ll be serviced
-don’t delivery canned response.
-make sure you understand the objection in the customers mind. Assumptions make you lose sales
- Clarifying questions:
Why do you say that?
How do you mean by ….?
Why do you feel that way…?
How did you arrive at that?
Im curious, why do you ask that?
Can I ask you where you got that information?
- Suppose Question (helps uncover if there’s only one objection or multiple)
Example: Lets suppose we were able to resolve that issue for you. I know its not resolved right now, but lets just pretend we could….are there any other issues you might have that would want to see resolved?
Formula: “Let’s suppose we were able to resolved that issue with you” (word “with you” is important)
“I know its not resolved right now, but lets just pretend we could. Are there any other issues you might have that you would want to see resolved?”
- Financial advisors are too expensive?
* Eh, maybe they are. But so is:
- Making bad investments.
- Missing valuable planning opportunities.
- Falling for emotional decision-making during market downturns.
- Paying too much in taxes.
- Not rebalancing your portfolio when you should.
- Leaving money in low-interest savings accounts.
- Overpaying for insurance you don’t need.
- Underpaying for insurance you do need.
- Forgetting to plan for healthcare in retirement.
- Being too conservative in your investments.
- Being too aggressive in your investments.
- Getting wrecked by inflation because you didn’t hedge for it.
- Ignoring estate planning and leaving your heirs with a mess.
- Spending too much in retirement because you didn’t plan ahead.
- Spending too little in retirement because you’re afraid to run out.
Questions to ask in response (Nick Murray)
Does it seem likely to you that we could increase your time by at least 1% per year by managing and monitoring your retirement plan?
Does it seem likely to you that we could increase your long-term investment return by at least 1% more per year than you might obtain on your own?
Does it seem likely to you that we could increase your peace of mind by at least 1% per year by helping you avoid financial mistakes that you might make on your own?
If one of these or a combination of these equals 1% then we don’t cost you anything.
- Prospect: I’m not sure if you’re qualified to help? Your so young.
Response: I can understand your concern..but I want you to know that I work with a team of estate planners, tax advisors, and CFAs that help manage my clients. I myself am a CFP and am certified as a financial advisor. Our team is there for you when you need us, and will manage all aspects of your financial plan. Also, do you want an advisor that will be retiring in a few years, and you’ll be forced to find someone else at an inconvenient time….OR would you rather find someone now, that you know will be with you for your entire life, someone you can trust, someone who is certified to help, and not leave you looking for an advisor 2, 5 or 10 years from now.
- Prospect: I only want a one time financial plan?
Response: Now one time financial plans can be valuable, but the problem is they have a short shelf life. When your situation changes in a month, 3 months, 6 months from now, that plan won’t make sense. Life changes…tax laws, new jobs, market conditions, divorce. It needs to evolve with you, and that’s why I work with my clients on an ongoing relationship. With an on-going relationship, I’m there to help you implement your plan, make changes along the way, and guide you through each of your financial decisions. Each decision you make can affect your finances dramatically, and with an ongoing relationship I’m with you every step of the way to make sure you’re on track. Having regular check ins ensures your plan adapts to your long term needs, and your short term goals. One time financial plans are reactive to what’s already happened. Ongoing financial advice is proactive. When life happens (divorce, death, birth, marriage, retirement, disability), I’m there to help. When markets change, tax laws change, I’m there to guide you. And another thing….when there are big changes in your life, you don’t want to have to wait and qualify a financial advisor, fill out all the forms, have initial meetings. It probably makes more sense to already have someone in your corner…someone you have access to year round. Your paying for access to me whenever you need it, and the thing is, you don’t know exactly when those big decisions will happen, but when they do, they have a major impact on your finances, and the decisions usually have a deadline. My communication channels are always open, whether its phone calls, emails or in person meetings, I’ll be there for you when you need it, and provide check ins and monitoring along the way.
- Prospect: I only want to give you a piece of my assets.
Response: I appreciate you wanting to allow me to manage a piece of your portfolio, but I want you to think of it this way….do you think I’ll be able to do more for, and provide more value for you, if I manage 10% of your financial life, or if I manage 100% of your financial life?
- Prospect: I already have a financial plan from another advisor.
Response: That’s a great starting point…but has that plan been updated lately. Financial planning should not be a one and done process. Tax laws change, markets shift, your goals change. I’d love to look at your current plan and see what changes we can make together to optimize it.
Or
I’m not here to throw out what’s working…I’m here to enhance it, and ensure your getting the most out of your finances. At the end of the day ongoing financial planning isn’t just a thing. It’s a relationship, a partnership, to provide clarity when life feels uncertain, guidance during big decision, and peace of mind knowing your on track. Without someone in your corner, you risk falling behind and making mistakes. I’m offering continuous support and providing value to your life.
Prospect: I can handle this on my own?
Response: You’ve clearly done well managing things so far. But financial planning is complex, and even small decisions have major consequences over time. My job is to help you avoid costly mistakes, help you uncover opportunities you may not see, and save you time and stress by managing the details for you.
Or
Just like people hire CPA to handle their taxes or a lawyer to draft legal documents…working with me ensures your financial life is handled by a professional who is always looking out for your best interest.
Prospect: I don’t need that much help.
Response: That’s fair, on-going financial planning doesn’t have mean constant meetings. Some clients we meet quarterly and some clients I call them annually to check in. The key is I’m there when you need me….whether its for major life decisions, tax strategies, or market changes. You may not need much help today, but I bet you’ll appreciate the access when life throws you a curveball. (positioning as me as a safety net)
How to Frame Financial Planning
Selling ongoing guidance, accountability and peace of mind.
Focus on outcomes, not outputs connected to their goals. Outputs are task (adjusting allocations, creating financial plan, running projections). Outcomes is the result of work over time (reduce stress, wealth preservation, smarter decisions, goal achievement). Clients pay for what outcomes deliver over long term.
Marketing should focus on outcomes, not outputs. (benefits instead of features)
Frame all conversations as on-going financial support to protect what matters most to you.
IE: retire at 55, send kids to college without loans, travel every year. This requires constant course correction, and a plan that evolves with you, I help you stay on track no matter what life throws at you.
Analogy:
Think of on-going financial planning as driving a car to a destination. A one time financial plan is like handing someone a map, and saying “good luck” see you later. An on-going relationship is like me sitting next to you in the passenger seat with you. I’m there to adjust your route, look out for road blocks, help you navigate detours, and turn on the seat warmers. Which option is more valuable?
How are you currently invested? How often do you monitor your portfolio?
1. Believe in tax efficiency and low costs, and keeping it simple
2. ETFs that diversify you across multiple sectors and industries.
a. 90% domestic, 10% international. Use bonds for clients with lower risk capacity, usually 65+ in age
3. I believe rebalancing your investments quarterly to keep on track with target allocations
4. For some clients, use strategies to protect downside risk, especially after big market runs like we’ve had
5. Asset placement matters just as much as asset selection. IRAs: investments that won’t appreciate as much because withdrawals are taxable as income, Roths: more aggressive investments since withdrawals are tax free, taxable accounts: take some risk because losses are deductible and gains are taxed at long term gains rates
Investing isn’t about chasing returns—it’s about building a strategy that allows you to achieve your goals with confidence and clarity, regardless of what the market does next. My philosophy revolves around four pillars: discipline, diversification, risk management, and purpose.
1. Broad diversification and asset allocation, and asset location
broad diversification, low costs, and a disciplined focus on the factors that drive long-term returns—such as asset allocation, not market timing.
We plan your portfolio across all of your accounts. If we plan to have 5% in bonds, we’ll put that in your taxable account and make them muni bonds which aren’t taxed. If we are investing in an asset with more growth potential, we’ll put that in your Roth IRA.
Asset location may not seem like a big deal now, but it can save you on annual taxes, and when you retire, you will pay less in taxes.
- Reduce volatility, risk management
Volatility isn’t a problem; it’s a reality
ensure your portfolio is designed to weather downturns without derailing your progress.
Through active risk management and stress testing, I prepare for the worst-case scenarios so you can sleep at night—even during turbulent markets. - Tune Out the Noise
Financial headlines are designed to trigger fear and greed.
But successful investing comes from staying focused on what matters: your goals, your timeline, and your plan.
By keeping emotions in check and sticking to a disciplined process, we can sidestep the pitfalls of reactionary decision-making.
- Focus on the Controllables
We can’t control the economy, the Federal Reserve, or market movements—
but we can control how much risk you take, how much you pay in fees and taxes, and how consistently we invest.
These are the levers we’ll focus on to maximize your wealth while minimizing uncertainty.
At its core, investing is about more than money. It’s about freedom, security, and creating a life that matters. My philosophy is simple: Build a strategy that grows with you, protects against life’s uncertainties, and puts you in control of your financial future.
Relationship
1. Kickoff Meeting: A Plan Tailored to You
We begin with a comprehensive review of your financial goals, current situation, and concerns. Together, we’ll build or refine a financial plan that aligns with your vision for the future. Every recommendation I make is designed to simplify your decisions and give you confidence about your next steps.
- Ongoing Portfolio Management
Your investments are actively monitored throughout the year to ensure they remain aligned with your goals and risk tolerance. When market conditions or your life changes, I’ll proactively adjust your portfolio to keep it on track. - Quarterly Updates
updates on your portfolio’s performance
any relevant market trends,
overview of any changes made.
These updates help you stay informed without feeling overwhelmed by the day-to-day noise of the market. - Mid-Year Check-In
* Address any new goals, such as a major purchase or travel plans.
* Update your plan to reflect life changes like a new job, a move, or family additions.
* Discuss opportunities to save on taxes or increase savings efficiency. - Annual Review: A Big-Picture Update
* Progress Check: Are you on track to meet your goals?
* Tax Planning: Are there opportunities to reduce your tax bill before year-end?
* Estate and Legacy: Do any updates need to be made to your estate plan or beneficiaries?
* Next Steps: What actions do we need to take in the coming year to ensure continued progress? - Proactive Guidance Year-Round
Life doesn’t always stick to a schedule, and neither do we. Whether it’s a sudden financial question, a major life event, or a market-related concern, I’m here to provide advice and solutions whenever you need them. - Educational Resources and Tools
I believe in empowering my clients through education. Throughout the year, I’ll provide insights, tools, and resources to help you better understand your financial picture and feel confident about the decisions we make together. - Clear Communication and Accountability
I’ll provide regular updates, ensure transparency about fees and performance, and keep you accountable to your financial goals.
This process is designed to give you peace of mind knowing that your finances are in capable hands while freeing you to focus on the life you’ve worked so hard to build.
