1. CREATING & COMMUNICATING VALUE IN YOUR CLIENT ENGAGEMENT PROCESS
Copyright © Chris Unwin – Training & Consulting Services Contact Number:

2. YOUR VALUE PROPOSITION
IMPORTANT CONCEPTS TO GRASP:
Any problems are in YOUR head – not the client’s
You are already giving value – therefore any changes needed will be in your MINDSET, rather than your process.
As with any other PROFESSIONAL, the client is always perfectly happy to pay a fair price for quality service.
Who are you a client of?
Whose fees are you paying on a regular basis?
Why are you happy to pay those fees?
Why do you go to a particular restaurant? It’s not just the food, is it? It’s the whole experience.

3. YOUR VALUE PROPOSITION
Justifying a fee – who will be the major beneficiary financially of the adviser/client business relationship?
The client by a country mile!
NB Who’s doing who the favour?
“Value” is perceived not specified
It is an AWARENESS on the part of the client that comes with enjoying a QUALITY EXPERIENCE rather than experiencing a transaction.
Paying for quality advice will be an EXPECTATION of quality clients – therefore it is a question of WHICH FEE STRUCTURE rather than whether a fee.

4. I have developed 5 KEY STEPS that add REAL VALUE to the initial advice process and each step creates CLIENT AND ADVISER OUTCOMES that add to the quality of the overall experience.

5. STEP ONE
Terminology
Ideal financial planning process for wealth creator clients:-
a) Cash flow analysis
b) Debt structuring analysis
c) Risk management analysis
d) Investment strategies
Position Protection within the context of your client’s financial plan as well.
“Making plans with your client’s income BEFORE (or WITHOUT) doing everything you can to
SECURE THAT INCOME on an ongoing basis”
This is as much for your own protection as it is for your client’s benefit.
Painting a Picture
Importance of VISUALISATION
Analogy:- Building a house on a plot of land and the importance of laying foundations FIRST.
CLIENT OUTCOME:- From the outset your client is aware of the importance of protection in his/her financial plan.

6. STEP TWO
Outlining your advice process from the outset NB WANTS analysis vs NEEDS analysis. Establishing the purpose of the initial meeting (helping your client to verbalise their objectives) leads on to the outline of your advice process (putting together recommendations specifically designed to achieve those financial outcomes you have told me you want – and hopefully within an affordable budget. Does that sound reasonable?) CLIENT OUTCOME:- Much greater enjoyment factor discussing their WANTS rather than their needs. ADVISER OUTCOME:-All your recommendations are based solely on what your client has told you they WANT ie investment objectives and/or financial outcomes in specific “what if” situations. NB Appropriateness of Advice

7. STEP THREE
Seeking agreement from your client on the key concepts of LONG TERM BUSINESS RELATIONSHIPS and REGULARITY/CONTINUITY OF SERVICE. Make it a “condition” of becoming a client that we do get together to review things on a regular basis. CLIENT OUTCOME:- Your client appreciates your professionalism right up front. ADVISER OUTCOME:- Your client’s agreement with these concepts enables you to seek a commitment from them to the PRINCIPLE OF REFERRALS at this early stage.

8. STEP FOUR
Asking questions on the Fact Find that FACILITATE your client verbalising their financial objectives. Eg. Retirement Planning:- WHEN they would WANT to “retire” and what percentage of their salary they would WANT to retire on. Personal Protection:- What FINANCIAL OUTCOMES they would WANT in specific “what if” situations. CLIENT/ADVISER OUTCOME:- Because your recommendations are based SOLELY on what your client has told you they WANT, the ONLY barrier to implementing your recommendations is the cost e.g. with Protection, the issue becomes HOW MUCH cover rather than whether any cover at all and with investment strategies, how big are the steps we can take right now.

9. STEP FIVE
The Post Implementation meeting – having a face to face meeting with your client once the business has completed. This will serve to “waterproof” the business done, set up future business and get feedback from your client regarding their experience. CLIENT OUTCOME:- Your client enjoys a QUALITY EXPERIENCE rather than experiencing a transaction. ADVISER OUTCOME:- Positive feedback opens the door for REFERRALS.

10. TWO THINGS TO REMEMBER
The key will be the IMPLEMENTATION of these steps
Because remember………
There is no such thing as a good idea in theory
– ONLY IN PRACTICE

11. THE STRUCTURE OF THE FIRST CLIENT MEETING

12. 4 STAGES TO THE INITIAL CLIENT MEETING:-
I.D. / RELAX – INTRODUCTION
General chit chat – put the client at ease
Introduce yourself and your company
Establish and get agreement on the PURPOSE of the meeting
NB Wants vs Needs
Regularity/Continuity of service
Commitment to the principle of referrals
Client’s Thought Bubble:-
“Yes, I can see myself doing business with this person”

13. 4 STAGES TO THE INITIAL CLIENT MEETING:-
FACT FIND / EXPOSURE
Host a chat show – don’t fill in a form
Ask questions to establish the client’s financial objectives/goals
NB wants
Create and build desire –
FANTASTIC OPPORTUNITY VS EXPENSIVE NECESSITY
Establish the shortfall – disturb / reassure
Client’s Thought Bubble:-
“Yes, I want these financial outcomes!”

14. 4 STAGES TO THE INITIAL CLIENT MEETING:-
PRESENT THE SOLUTION
Tailor make a solution according to the client’s specific objectives
NB Circle of Safety
Stress the benefits/outcomes (not the mechanics)
Highlight your ONGOING support (monitoring/reviews)
Client’s Thought Bubble:-
“Great! He/she can help me achieve the financial outcomes I want”

15. 4 STAGES TO THE INITIAL CLIENT MEETING:-
FACILITATE IMPLEMENTATION
No such thing as a good idea in theory – only in practice
Get commitment to action – establish and get agreement on criteria that have to be met for business to take place
Book a second appointment in the diary
Client’s Thought Bubble:-
“I want these financial outcomes NOW!”