Sandler Opening Interview

Question 1

Introduction

Answer 1

Thank you very much for taking the time to meet with me today.
Confirm the amount of time allowed for the meeting.
Naturally there are some specific things you’re going to want to know about me. my background, How I work, and what we can do for our clients.
Obviously, I also need to know more about you.. Let me show you.

Question 2

Draw Box on top Right side of a paper

Answer 2

I hope to understand where you see yourself in the future. Most people have issues with…

Question 3

(Top Right Box) Write Retirement.. (say)

Answer 3

How much should I be saving along the way.
How much money do I need to have.
When can I retire
How do I ensure I don’t outlive my savings.

Question 4

(Top Right Box) Write Kid’s Education..(Say)

Answer 4

How in the world am I going to pay for this?

Is there a better way?

Question 5

(Top Right Box) Taxes ..(Say)

Answer 5

Most People Misunderstand when they are going to pay taxes. Do you want to pay them:
Now
Later
Never

Question 6

(Top Right Box) Protection

Answer 6

Type- of protection for cash flow, your life, your savings
Amount - Could afford vs. Should afford. Most people purchased their policy back when they first got married and did what they could afford at the time or what they needed May not be the case with you but many people may find that they have had some growth changes in their lives since then. On the flip side we have experienced situations where people did purchase more and that they actually had too much.
Timing -When they actually purchased the policy how long did they need it? How long do they want it?

Question 7

(Top Right Box) Cash Flow..(Say)

Answer 7

We look at cash flow to better understand where the money is going every month. The average person can’t account for 15-25% of their income each month. That may not be an issue for you but is a very common problem people have.

Question 8

(Top Right Box) Estate Planning..(Say)

Answer 8

Most people are looking to minimize what goes to uncle Sam and Maximize what you give to your family or favorite charity.

Question 9

Draw Second box on lower Left side

Answer 9

After I gain a a better understanding of where you would like to be I’ll need to spend some time understanding where you are now.
I’ll need to know where you stand currently or how much you’ve done to create a baseline with respect to.

Question 10

(Lower Left Box) Retirement..(Say)

Answer 10

You probably have a 401K from work and/or a Roth IRA or other stuff you use to put money away for the future.

Question 11

(Lower Left Box) Education..(Say)

Answer 11

You may have invested in a 529 plan for the kids or put some money away for college.

Question 12

(Lower Left Box) Taxes

Answer 12

Taxes

Question 13

(Lower Left Box) Protection

Answer 13

If you’re like most people you have some disability coverage at work or some life insurance there too.

Question 14

(Lower Left Box) Cash Flow

Answer 14

Your current Cash flow

Question 15

(Lower Left Box) Estate Planning

Answer 15

Estate planning

Question 16

After the boxes

Answer 16

During this stage I will actually use a simple little tool to ensure we accurately understand where you are currently. Having clarity of the futre is critical but we also need to know where you’re starting from. Does that make sense??

Question 17

Draw a line connecting the 2 boxes

Answer 17

Obviously we will need to discuss the roadmap that you have, if any, to help you get from where you are to where you want to be. Within the roadmap there may be gaps or issues. for instance:

Question 18

(after the line) Risk tolerance..

Answer 18

Some people have a higher risk tolerance then that of their spouse / business partner. Some have a high risk level while their spouse/business partner may be more conservative in their approach. It’s critical to ensure the roadmap mutually fits both levels.

Question 19

(After the Line) Philosophy Regarding Money

Answer 19

Historically there is always one member of the team who likes to spend while the other is a saver.
Who is the squirrel and who is the spender.

Question 20

(after the box drawings) Typically..

Answer 20

As we discuss these areas during the next (whatever time is left)we will undoubtedly come to one of these 3 outcomes.
1. That during the process you may notice based on how I answer your questions or what I may be asking you that I may not be the right person for you.
2. We may also find that during the conversation I may find out that I can’t help you achieve your future goals for whatever reason. If that’s the case I’ll tell you, “Im not your guy” If either of those occur it’s OK, We’ll just shake hands and part friends.. we don’t need to duck corners form each other right? (be honest with one another)
3. The third thing we may find is that we are both on the same page and we both decide it makes sense to continue with the process. At that point we’ll set up another meeting and move forward from there.
I’m not sure which one will occur but we’ll figure that out together.. Fair enough?

Question 21

(Rip the box paper and place it facing them)

Answer 21

From where you sit, based upon what we just went through do you mind sharing with me what you were hoping to accomplish in the next 45 minutes?

Question 22

Create Agenda on a fresh sheet

Answer 22

What else, what ales
Summarize list
From all thats on this list where would you like to start?
(Take them through a PAIN funnel for each goal they have listed)