Building Value For Your Clients November 19, 2013

Value: Anything that builds confidence in the client’s mind that they are getting direction and leadership from a professional, adds to their peace of mind and has worth to them.

Outline Why Change Management What clients value 9 Value Areas How to Implement

National Instrument

31-303

Who Moved My Cheese?!

Value PerceptionPrice

What do clients value?

Communication: Importance by Gender The 2012 Affluent Investor Study

Communication: Importance by Gender The 2012 Affluent Investor Study

Financial Services: Importance by Gender The 2012 Affluent Investor Study

Financial Services: Importance by Gender The 2012 Affluent Investor Study

Alberta Investors Investors who think fees have the most impact on performance – 3% Received a document outlining compensation - 15% 21% - offered estate planning 35% - had a specialist brought in 61% - got a written financial plan

What clients will pay for Cash flow and debt management Divorce advice Actual documents (picture) Estate and tax planning Charitable giving Investment planning Education planning

9 Areas 1.New Client Development Process 2.Needs Analysis 3.Leadership 4.Credentials/Courses 5.Client Relationship Management 6.Meeting preparation 7.Team 8.Brand 9.Feedback

1 – New Client Development Process Define your process What makes it unique and valuable? Name it Demonstrate your process with a graphic Create a rewarding and pleasing experience for your clients Brand it!

McSquared Process Compatibility meeting Identifying your concerns/issues/goals/priorities Gathering data/statements Gap analysis completed by Ken Building of draft plan by Ken Presenting the draft plan Discussing the engagement letter Building an action plan Implementation Timely follow-ups and reviews

6 Step Financial Planning Process 1.Establish the client-planner engagement 2.Gather client data & determine your goals 3.Identify problems & opportunities 4.Develop and present the financial plan. 5.Implement the financial plan 6.Monitor and review

2 – Needs Analysis Tell me about your family/business? What is your biggest financial concern? If we were meeting here 2 years from now, what has to have happened for you to feel we were successful? What are your expectations of me? How do you deal with volatility in the market? What would happen to your family and your financial plan if you had died yesterday? Describe what your retirement would be like. High Gain Questions

Emotional Connections

Fact Finder

Calculators

Vision Recommendations “Tell me what I should be doing in my unique situation” Experts Holistic planning Implementation 3 – Leadership

4 – Credentials/Courses

Segmentation Relationship Management Process Technology 5 – Client Relationship Management

“GAP” for Growth G = Growth A = Active P = Passive

Contact Key Value Driver: “A” Class Contacts Revenue per Principal Increase in Revenue Fewer than 6 times per year $368,168 Between 6 and 12 times per year $447,44322% More than 12 times per year $619,23568%

Contact/Relationship Strategies Face to face meetings A plan that gets updated regularly Phone calls Newsletters Special cards Recognition of life events Client appreciation Invites to social events Gifts

Kayal Financial Solutions Service Matrix

FORMFORM

Case preparation Meeting agendas Post client meeting notes Do a true ‘client’ review 6 - Meeting Preparation

Client Meeting Agenda 1.Viewpoint/From my Perspective/Scorecard 2.Client Concerns – Additions to Agenda 3.Insurance Review a.Review and Discuss Insurance Summary b.Discuss current needs 4.Investment Review a.Review Current Portfolios b.Investor Profile c.Discuss Reallocations (if necessary) d.Update KYC (if necessary) 5.Goals, dreams, aspirations 6.Service & Value Discussion 7.Arrange Next Meeting

Help deliver the client experience –Process with accuracy –Service –CRM Hire the right people Introduce key staff Promote your team 7 - Team

Virtual Teams Insurance Specialist Investment Manager Advanced case specialist Bookkeeper Professional Organizer Corporate Concierge Estate planner Fee only financial planner – i.e Planiste Social media

8 – Brand

Client Acquisition

Joe’s Office

Increase revenue by 30%! Tailor services to better meet needs and expectations Shows your dedication to consistently improving your service Open a new dialogue Educate clients on enhancements to the service suite Take action 9 – Feedback

Cupcake

Tips to Implement 1.Value inventory 2.What is your current pricing strategy? 3.Get feedback from clients on what they value 4.Write out your client development process 5.Do post client meeting notes 6.Complete the Value Ladder 7.Timeline and action lists

Call to action Fill out the paper

“ It is not the strongest or the most intelligent who will survive but those who can best manage change.” ― Charles DarwinCharles Darwin