Building Relationships: How to Engage with Potential Clients

MoneyTrax.Blog.EngagingClients.4.20.17Often the first time you meet someone, you will not sign them on as a client. So, take some of the pressure off and learn to enjoy the process it takes to build and establish a relationship with a potential client. Keep reading for a method that we’ve found works well for financial advisors.

Establishing Your Value with Clients

Many times a potential client will ask: “What do you do?” If you cannot answer this question smoothly, they may not be confident in your abilities. Try this example script from Circle of Wealth® out for size: “I am in the financial services business with a very unique approach in that I help people find money they are currently losing unknowingly and unnecessarily.”

How do you find them money? Explain that you look into the “5 Major Areas of Wealth Transfers” to help identify and stop people from losing funds unknowingly. If they ask what they are, tell them you look into these 5 areas:

  1.     How They Pay for Their House (Mortgages)
  2.    Taxes
  3.    How They Fund Their Retirement Accounts (Qualified Plans)
  4.    How They Pay for Their Children’s Education Costs
  5.     How They Pay for Major Capital Purchases (Cars, Weddings, Vacations, etc.)

They should be pretty interested after that. You can also explain your philosophy as this: “I believe there is more opportunity to serve my clients by helping them avoid losses than by picking the winners.”

Now is the time to really hook them in. Ask them if they know the answers to these four financial questions:

  1.     What rate of return do you have to earn on your savings and investment dollars to be able to retire at your current standard of living and have your money last through your life expectancy?
  2.    How much do you need to save on a monthly or annual basis to be able to retire at your current standard of living and for your money last until life expectancy?
  3.    Doing what you are currently doing, how long will you have to work to be able to retire and live your current lifestyle until life expectancy?
  4.    If you don’t do anything different than you are doing today, how much will you have to reduce your standard of living at retirement for your money to last to your life expectancy?

If they are unable to answer those questions, offer a fifteen-minute consultation to help them understand and assist them in assessing their financial situation.

Engaging with Clients in Real Life

You should be able to tell people what you do, how you can help them and offer them a meeting with confidence and assertion. If what you are saying is not opening doors for you, then you may benefit from some practice and guidance. Fortunately, we have resources that can help.

The Circle of Wealth® system offers incredible tips and insights to connecting with potential clients that will help you sign them and keep their business.

About MoneyTrax, Inc.

MoneyTrax, Inc. was founded in 1994 by Don Blanton and has gained national recognition for its unique financial planning approach, intuitive client presentation software, advanced training, and effective marketing tools. Since inception, MoneyTrax, Inc. has helped thousands of financial advisors nationally better serve their clients by providing the tools and training necessary to educate and increase their client’s financial Circle of Wealth®. The Circle of Wealth® system significantly expands the financial advice available to a family beyond the industry accepted approach used by most advisors today. Visit https://www.moneytrax.com/circle-of-wealth-system/ to learn more.

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