Practice

Recipe for success: Bringing insurance and estate planning into the mix

(June 2004) Advisors who have successfully incorporated insurance and estate planning into their practice feel strongly that the holistic approach has helped them to expand their book and attract higher net worth clients. Building a business based on the financial planning process will provide many advantages to an advisor, including: Executing on estate planning 1. […]

By Joanne Ferguson |May 17, 2004

5 min read

Planning and Advice

Review reminder: Use this checklist to ensure insurance needs aren’t overlooked

(June 2004) When conducting an annual review with your clients, you undoubtedly have plenty of things to talk about — and to be distracted by. To prevent you from neglecting to delve into an insurance or estate planning discussion, use the following review checklist at your next meeting. (For more expert insights and tips on […]

By Joanne Ferguson |May 17, 2004

1 min read

Planning and Advice

Acceptance speech: How to communicate with clients and prospects when accepting referrals

(May 2004) There are two constituencies when accepting referrals: the existing client who provided the referral and the prospective client. When dealing with clients giving referrals, you have three objectives to consider: genuinely thanking them for their confidence, reaffirming their decision to work with you and maximizing the likelihood of future referrals. Contacting existing clients […]

By Dan Richards |May 13, 2004

3 min read

Planning and Advice

Timely template letter: Help clients plan now for a more tax-efficient 2004

(May 2004) Income tax filing season may largely be over for your clients at this point, but the fallout might just be beginning. Plant the seed with your clients that you are willing and able to help them reduce their tax burden for next year’s filing by sending out this introductory letter: Dear [Client’s name], […]

By Staff |May 6, 2004

2 min read

High-value relationships: An advisor’s checklist

The fundamental difference between a high-value relationship and a transactional relationship is what you focus on. In the high-value relationship, the focus is not on the deal but on the people you are dealing with and what is most important to them. Name: Meeting/Call date: Main objective of meeting: Orientation: Shift focus to the client […]

2 min read

High-value relationships: Questioning strategy for clients

Strategy What can happen Questions to use 1. Get the opinion from clients — identify strong ones. Can open the door to their decision-making process. The stronger the opinion, the easier it is to access. What do you think about X? What concerns you about X? How do you feel about X? 2. Find out […]

1 min read

Forget high assets, focus on high-value relationships (includes bonus tools!)

(May 2004) Before you go chasing after elusive millionaire prospects, have you asked yourself if you’ve maximized your existing client relationships? There is definite potential for more within your own book — the key is focusing on richer relationships with your clients and their families. Think about those relationships in your current client base that […]

5 min read

Formula for success: Increased client contact equals increased business

faxes postcards (to customize, try a service like www.amazingmail.com) mailers testimonial letters free reports This list excludes public relations, which I consider to be separate from typical marketing contacts. 2. Be repetitive. Variety also means that repetition becomes a factor in your marketing — and that’s a good thing. Marketing 101 says it takes eight […]

5 min read

Client contact: A method to the madness

(April 2004) It seems that after every RRSP season comes to a close, the familiar refrain among financial advisors is, “Next year, I’ll do it differently.” Translated, that means that rather than squeezing a year’s worth of client contact into eight weeks, advisors want to feel more in control of the process, they want to […]

2 min read

Connecting with clients through coaching

Engaging the client in provocative conversation, in which the coach listens carefully to what is said and asks obvious next questions, clarifies real meaning, and questions when something doesn’t sound right; Revealing the client to himself — help them to see themselves better; Helping the client to identify sources of motivation; and Helping clients to […]

2 min read