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April Is National Financial Literacy Month

During NAIFA’s general session on Monday, Sept. 10, Anthony Morris spoke during NAIFA’s Big Ideas presentation.

Morris, a financial services industry speaker, taught the audience new ways to become top advisors in their fields, especially when he knows, “Building your business is not easy.”

Beginning with the job description, Morris gave four ways to connect and focus on with clients:
- Befriend
- Intrigue
- Disturb
- Offer options

To stand out from the crowd, Morris said to stop calling yourself a “financial advisor,” and to instead say, “I help protect middle-aged people from their parents.” This will intrigue prospective clients to find out more on what you do and how it can help them.

He emphasized the importance of “selling your plan.” He said you must create a sample plan with false information to send out to prospective clients, so they will be able to see the work and math involved. Send this sample plan as a PDF to all prospects with a meeting confirmation email.

Also, plan to send three physical copies of the plan with the prospective client to their workplace to share with their colleagues, and always carry at least 10 copies of the plan in your car. You never know who you may meet who needs your assistance.

Other areas where you can send out the sample plan are: send to your clients who are accountants and attorneys, so they can share with their own clients; leave a stack in office reception areas; ask clients to forward the PDF as an attachment to family members or friends as referrals; put the sample plan on your website as a downloadable PDF; or connect with prospective clients on LinkedIn and send them the plan.

After signing a potential client, don’t forget to ask about their parents’ financial status.

“Ask, ‘What’s the expiry date on your parents’ financial plan,’” Morris said.

The responsibility of financial advisors, he continued, is to look after families, not funds. Setting up a meeting with the client’s parents will help everybody in the long-run.

If the client declines a meeting with their parents, get the client to sign a form to protect you (the advisor) against a class-action lawsuit. If they sign this “Parent Meeting Release Letter,” it releases the advisor from any liability that could happen to the parents’ financial status and how it could negatively affect your client.

Morris ended his speech by reminding the audience to connect to your clients’ families, friends and colleagues, to be a performer as well as a sales person, and to use the written sample financial plan to promote your work.



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