2017 MDRT Annual Meeting e-handout Material. Retirement Income Planning: Take your Wealth Management Business to the Next Level

Transcription

1 2017 MDRT Annual Meeting e-handout Material Title: Speaker: Retirement Income Planning: Take your Wealth Management Business to the Next Level Brad Brain, CFP, CLU Presentation Date: Tuesday, June 6, 2017 Presentation Time: Session Room: 2:00-3:00 p.m. Hilton - Orlando Ballroom II The Million Dollar Round Table (MDRT) does not guarantee the accuracy of tax and legal matters and is not liable for errors and omissions. You are urged to check with tax and legal professionals in your state, province or country. MDRT also suggests you consult local insurance and security regulations and your company s compliance department pertaining to the use of any new sales materials with your clients. The information contained in this handout is unedited; errors, omissions and misspellings may exist. Content may be altered during the delivery of this presentation Million Dollar Round Table Million Dollar Round Table 325 West Touhy Ave. Park Ridge, IL USA

2 Brad Brain, CFP, CLU Retirement Income Planning: Take Your Wealth Management Business to the Next Level What s your competitive advantage? Independence Provide a Unique Financial Plan for clients Access to a full suite of products I m a CFP/CLU Quality products Quality service Quality advice Years of experience Financial knowledge Trustworthy 1

3 Service Level Matrix $50,000 - $250, % $250,001 - $500, % $500,001- $3,000, % $3,000, % Annual Progress Review Retirement Projections Annual Progress Review Retirement Projections Semi-Annual Progress Review Semi-Annual Progress Review Net Worth & Semi-Annual Review Investment Policy Statement Net Worth & Semi-Annual Review Investment Policy Statement Net Worth & Semi-Annual Review Investment Policy Statement Financial Plan Client Appreciation Events Executor Connect Package ` Financial Plan Client Appreciation Events Executor Connect Package Estate Succession & Tax Strategies 2

4 1 Establish and define Gather client-planner relationship 2client data, including goals The Financial 6 Planning Process Monitor the Financial Planning Recommendations 5 Implement the Financial Planning Recommendations 4 Develop and present Financial Planning 3 Analyze and evaluate your financial status Personal Information Income Dependants Net Worth Liabilities Financial Objectives Money Fears Daily Tracking Tally Sheet To Do Approaches Contacts Appointments Sales Income Referrals 3

5 Getting to Yes NO NO NO NO NO NO NO NO NO NO NO NO NO NO YES! Yellow Lights Always Turn Red Number one fear of clients running out of money Earn the trust of the client Minimize the jargon Be passionate about what you do Stay in touch with your clients Cross selling is good business Track your activity 4

6 Rejection is a good thing when it comes to prospecting. No does not hurt. What do I need to do in order to be fee worthy? Be referable at every opportunity Always have prospects in the pipeline When I get back home, I am going to do my best to not slip into all my old habits. Thank you! 5