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Follow-up Conference Call June 25, 2009

Capturing the Opportunity. Follow-up Conference Call June 25, 2009. Capturing the Opportunity. Follow-up Conference Call Agenda. Recap where we left off at the conference The importance of a “different” conversation with your clients prospects 2 nd Opinion / Recovery Plan / Reboot Offer

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Follow-up Conference Call June 25, 2009

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  1. Capturing the Opportunity Follow-up Conference Call June 25, 2009

  2. Capturing the Opportunity Follow-up Conference Call Agenda • Recap where we left off at the conference • The importance of a “different” conversation with your clients prospects • 2nd Opinion / Recovery Plan / Reboot Offer • What does a Consultative Process and client deliverables look like? • How do we get “at-bats”?

  3. Framing the Opportunity • Investor Discontent • 4 out of 5 investors want to switch their advisor • Only 10 – 15% have done so. Why? • Independent Advisors are not changing • Performance is not a differentiator • Clients (and their advisors) are focused on the wrong questions (questions that can’t be answered)

  4. Capturing the Opportunity • REQUIRES A DIFFERENT CONVERSATION

  5. The Great Advisors will focus on: Planning process Strategic asset allocation dictated by, and in service to, the plan Behavior modification The Terrible Advisors will focus on: Economic forecasting Market prognostication Handicapping future relative “performance” Capturing the Opportunity Nick Murray

  6. Capturing the Opportunity The 3 Things You Must Do • Commit to change • Rediscovery meetings • Offer 2nd Opinion Service (a.k.a. Recovery Strategy) John Bowen

  7. Capturing the Opportunity • 2nd Opinion Service • 4 out of 5 want to switch advisors • “Hit the reset button” • “Need a recovery strategy” Four “R’s” of a Recovery Plan • Permission to Realize that there is something you can do • Reengage: stop contracting and expand (Reset, Regroup, Realign) • Design the Recovery Plan • Relax: stop holding your breath, begin sleeping again

  8. Capturing the Opportunity 2nd Opinion Service Start with questions to understand new values and goals: First two sections of Discovery Interview Guide; Or, questions relative to the current environment: What is the most important financial issue in your life at the moment? What is going on in your life right now that could have a major financial impact? What do you see as the biggest threat to your financial security? Deliverable is Portfolio Analysis v.2

  9. Capturing the Opportunity Consultative Process

  10. Capturing the Opportunity Consultative Process: The Client Deliverables

  11. Capturing the Opportunity How do we get “at-bats” WSJ Article: 4 out of 5 investors 2nd Opinion offer to clients 2nd Opinion offer letter

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