Strategy Highlights
Week 22
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Strategy 5: Nail the Wealthy Client Experience
Overview of the wealth management process
We believe you will find the wealth management process to have one of the most significant impacts on your business that you have ever experienced. It is built around a series of five client meetings, each one designed to help you systematically build trusted, high-quality client relationships that ensure a high degree of client satisfaction and loyalty.
Goals of the Discovery Meeting
- To immediately establish trust by positioning yourself as an authority in addressing the financial concerns of members of your niche community
- To differentiate yourself from your competition through your superior client experience
- To uncover the client or prospective client’s most important financial issues and to determine his or her high-net-worth personality
- To collect all information necessary to assess suitability for your services
- If appropriate, to collect all information necessary to complete an investment plan and advanced plan
- To begin to position yourself as a personal chief financial officer
- To begin to build a deeper personal connection by sharing your personal story
Goals of the Investment Plan Meeting
- To provide the prospective client with an actionable investment plan that will maximize the probability of achieving the investment goals and a clear IPS that spells out your investment approach
- To clearly demonstrate the value you can add to the prospective client’s financial life
- To continue building the personal relationship—a process you began during the Discovery Meeting
Goals of the Mutual Commitment Meeting
- To make the mutual commitment to work together and execute all the agreements needed to begin to do so
- To obtain introductions to qualified prospective clients
Goals of the 45-Day Follow-up Meeting
- To “wow” the client with your level of service
- To help the client to be organized and to fully understand his or her paperwork
- To obtain introductions to qualified prospective clients
Goals of the Regular Progress Meetings
- To reinforce that the client remains on track to achieving all that is important to him or her
- To expand the scope of issues addressed beyond investments
- To reinforce the client’s position as a marketing apostle for your business
- To obtain introductions to qualified prospective clients and to capture additional assets