Convert Prospects to New Clients

Convert Prospects to New Clients:

Second Appointment – Proposal/Financial Plan

Note: Each office utilizes different software in preparing a proposal or financial plan.To have an accurate record of the systems that are performed, you should document the various steps that are performed in your office to complete this task.

Date & Initial When
Completed (or N/A)

Prepare Proposal for Appointment with Prospect

Enter data obtained from the prospect in your financial planning system.

Create recommendations and action plan for prospects.

Carson Wealth Wealth Plan Sample

View the document in Digital Fortress’ Resource Library or within the lesson titled Convert Prospects to New Clients: Second Appointment – Proposal/Financial Plan.

Review proposal with advisor before meeting with prospects:
These are some of the areas the advisor may wish to consider when preparing the proposal:

The cover page is client-specific with: name, address, date prepared, and name of the advisor presenting the proposal.
A fact sheet that contains information pertinent to the prospect (e.g., date, income, holdings, children, etc.).
A list of the goals the advisor and the prospect have agreed upon.
A list of the prospect’s retirement assets, retirement income expected, and retirement income required from investments necessary to meet goals.
The recommendations the advisor would make in order to reach the prospect’s goals.
Points to summarize (e.g., personal liability coverage, health care coverage, reduction of income taxes, estate planning needs, risk/return ratios, etc.).
Any material you can present during the appointment that visually demonstrates your proposal is very beneficial (e.g., charts, graphs, etc.).

Make corrections to proposal in financial planning system.
Submit proposal to compliance for approval.
Create proposal presentation.

Wealth Plan Presentation Template

View the presentation in Digital Fortress’ Resource Library or within the lesson titled Convert Prospects to New Clients: Second Appointment – Proposal/Financial Plan.

Print action plan and disclaimer documents for prospect to review at the presentation of the proposal or financial plan.

Send Appointment Reminder

Immediately after the Data Gathering Appointment is scheduled, send either an email reminder or a postcard reminder.
Email text:

Subject: Appointment Reminder

REMINDER!

You have an appointment with

{Insert Advisor’s Name}

on{Insert Date and Time}.

If you need to reschedule or have a specific topic you would like to discuss during your appointment, please notify us as soon as possible by calling

{Insert Team Member’s Name and Phone Number}.

Please email {Insert Advisor’s E-mail} with questions.

Welook forward to your appointment.

For more information on {Insert Company Name} please visit us at

{Insert Company Website}.

Thank You!

{Insert Company Name}

Postcard text:

Reminder!

You have an appointment with

{Insert Advisor’s Name}

On {Insert Date}

If you need to reschedule or discuss something specific during your appointment, please notify us as soon as possible by calling {Insert Phone Number and/or Toll-Free Number}.

We look forward to your appointment.

For more information on {Insert Company Name}, please visit {Insert Company Website}.

Schedule on Calendar to Call and Remind Prospect of Appointment One Day Prior

Prepare Additional Documents Needed for Appointment

Appointment Sheet– consolidates specific information about a client or prospect scheduled for an appointment.
Appointment Sheets are printed on a daily basis for each client/prospect who will be meeting with an advisor the following day. They are reviewed by the Director of First Impressions and the advisor prior to scheduled appointments:

In-office Appointment Sheets are given to the Director of First Impressions to review prior to the prospect’s arrival for the appointment.
Phone Appointment Sheets are given to the appropriate advisor to reference during the phone conversation.
Out-of-office Appointment Sheets are given to the advisor prior to the out-of-office appointment or emailed if the advisor is working remotely.
Some of the information you may wish to maintain in your Appointment Sheet are:

Appointment date and time
Birthdate(s)
Accounts held outside the advisor’s custody
Asset/Liabilities (e.g., home, credit cards, etc.)
Long-term care insurance
Insurance (e.g.,Term, VUL, etc.)
Other Insurance (e.g., Health, Disability, etc.)
Beneficiaries

Broker/DealerForms – forms such as the new account forms and transfer forms.
Reminder Form – included in the forms for the meeting with the prospect so notes can be taken of missing information during the meeting.

View the letter in Digital Fortress’ Resource Library or within the lesson titled Convert Prospects to New Clients: Second Appointment – Proposal/Financial Plan.

Advisor Meets with Prospect to Review Proposal or Financial Plan

The Director of First Impressions greets all prospects by name as they arrive for their scheduled appointments.
While the prospect is waiting in the lobby area for the appointment, the Director of First Impressions should make every effort to solicit information that may be referenced in future appointments (e.g., drink choice, car type, etc.).
Prospect is escorted from the reception area to the conference room.
Let the advisor know the prospect is seated and give the advisor the folder containing the Appointment Sheet.
The advisor reviews briefly the information in the folder prior to meeting with the prospect.
The advisor meets with the prospect to present the proposal and reestablish the connection from the first meeting. Use an agenda like this:
25 – 30 minutes: Reconnect and regain trust
30 – 40 minutes: Introduce your financial plan recommendations:
Go through the PowerPoint presentation of the proposal with the prospect.
Encourage the prospect to ask questions.
Walk the prospects through the client website using the financial planning software.
15 – 20 minutes: Answer any additional questions and ask prospect for permission to implement the recommendations with your firm.

If the Prospect has agreed to implement with your firm, complete a Reminder Form if there is additional action required by the new client to complete transfer of assets to your practice. Give one copy to the new client and keep the other copy for your file. The new client can call, mail, email, or bring the information to the office.

Advisor Schedules Implementation Appointment with Team Leader and Prospect

Advisor accesses the Team Leader’s calendar to view availability within the next 48 hours.

Advisor shows Prospect out.

Schedule Follow-up with Team Leader about Implementation Appointment

Advisor meets with Team Leader to discuss outcome from appointment, follow-up needed, paperwork for submission, and date/time of next appointment:
Each Broker/Dealer requires different paperwork to complete the movement of assets from outside companies. To have accurate documentation of the systems performed, you should customize this section to reflect the various procedures performed within your practice.
Advisor will let the Team Leader know the accounts that will need to be established, as well as what transfers will take place into those newly established accounts. Examples of forms needed:

New Account Forms (Joint account, IRA for both)
Account Transfer Forms (two ACAT Transfer and one Annuity Transfer)
Annuity and Life Insurance Paperwork

Update calendar to reflect completion of the Proposal Appointment.
Place the appointment on the Team Leader’s calendar and other calendars as needed (e.g., conference room, other members of the team who should be in appointment.)
If you are holding an appointment in the conference room, but didn’t reserve it first and an appointment previously booked arrives, you and your clients/prospects will be asked to forfeit the meeting space to the person who followed the system.
Schedule reminder on calendar to check on any outstanding items the new client needs to return to prepare for the Implementation Appointment. Don’t allow more than a couple days to go by without touching base with the new client on these items.

Track Change in Prospect to New Client Process in CRM

Enter where the prospect is in the Prospect to New Client Process in CRM system. Some of the stages to track in the process are:
Prospect Packet (e.g., requested, sent, not qualified, refused to return, qualified)
Data Gathering Appointment
Proposal Appointment
Implementation Appointment
Allocation Appointment
Initial Review/Update
Periodic Review/Update Appointment/Update

Send Prospect Meeting Thank You Letter #2

Following the Data Gathering Appointment, the Prospect Meeting Thank You Letter #2 is sent by the advisor.

Prospect Meeting Thank You Letter #2

View the letter in Digital Fortress’ Resource Library or within the lesson titled Convert Prospects to New Clients: First Appointment – Data Gathering.
Print and review the letter for errors.
Make corrections to the letter as needed.
Print on letterhead and have advisor sign.
Make copies as per your compliance and retention systems.
Address envelope, print label, or place letter in window envelope.

Send Prospect Meeting Follow-up Letter

Send a follow-up letter to the prospect which highlights points of discussion and areas where follow-up, by the advisor and the prospect, are required.

Prospect Meeting Follow-up Letter

View the letter in Digital Fortress’ Resource Library or within the lesson titled Convert Prospects to New Clients: First Appointment – Data Gathering.
Print and review the letter for errors.
Make corrections to the letter as needed.
Print on letterhead and have advisor sign.
Make copies as per your compliance and retention systems.
Address envelope, print label, or place letter in window envelope.

Optional – Send Prospect Meeting Evaluation

If the advisor wishes to receive some feedback on the Proposal Appointment, he or she can send a Prospect Meeting Evaluation to the prospect.

Include a postage-paid return envelope.

Prospect Meeting Evaluation

Print and review the letter for errors.
Make corrections to the letter as needed.
Print on letterhead and have advisor sign.
Make copies as per your compliance and retention systems.
Address envelope, print label, or place letter in window envelope.