Marketing Unplugged
10
commandments of
Financial Planning
S
imple is better. When Moses came down from Mount Sinai, he brought Ten Commandments and read them to the Israelites. Suppose there were ten commandments (with a little “t” and a little “c”) applying specifically to the financial planning process.
1.
The Plan is Paramount. When meeting with a prospect and transforming them into a client, the first step is to get to know them better, learn their dreams and aspirations, then develop a plan to help them get there. We don’t go after Page 12
the low hanging fruit in the hopes of doing some quick business. The plan is the foundation stone of a long term relationship. The plan should be customized as much as possible. This might cost the client more in fees, but they should be able to see the value, especially if they have special needs children or are caring for aging relatives.
2.
Thou Shalt Not Enter Data Onto a Screen. Every client feels their situation is unique. They can get cookie cutter solutions by completing a financial plan online, often at little or no cost. When
meeting with your prospect, ask questions and write their responses down on the yellow pad in your lap. Don’t read questions off a form and fill in the blanks. Even worse, don’t ask the client to fill out the form themselves while you check emails.
3.
Remember to Keep Holy the Review Process. Your client gathered account statements. They dug out data on retirement plans and Social Security benefits. They invested valuable time. Reviewing the plan should not be done over the phone. It’s done in person with both The Register | September-October 2016