Second Meeting

Welcome - Second Introduction

  1. What has been happening since we last spoke?
  2. Set the time
  3. Set the expectations for the meeting
  4. Provide new FSG if required and explain
  5. Introduction of SOA , one for each client, one for the planner
  6. Before we proceed - Has anything changed since we last spoke?
  7. Take you back to our last meeting –
  8. We discussed your current situation – and financial status, we discussed income, expenses, your assets and debts, you told me what it is you would like to do and told me about your goals. We discussed your concerns you have about the future and what it is you want out of life over the next…..
  9. If there anything I have missed let me know
  10. You’re Advice -
  11. Summary of your advice - should be just that. Not read but know before you discuss.

Take client to the SOA – Depending on the contents of the SOA – Should include a discussion of Summary of your advice

What your advice is:

What your advicedoesn’t cover: Limited Advice Warning

Why my advice is appropriate:

Risks in my advice:

Does my advice have any disadvantages?

What my advice doesn’t deal with

Consequences of replacing one financial product with another

Fees and Commissions:

What are my fees?

What commissions will be paid?

Areas of personal information declined to be given by client

Your Goals and Objectives

Your Personal Information

What you earn and spend each year

What you own and what you owe

Client Risk Profile

Risk Return Trade Off

what my advice is and why it is appropriate for you

any disadvantages of my advice

if applicable, the consequences of replacing one financial product with another

the important things my advice does not cover

What is my advice?

Why is my advice appropriate for you?

Next steps:

Todecide whether to follow my advice, you should:

  • make sure you understand my advice
  • ask me any questions you may have

To follow my advice, complete and sign the Authority to Proceed at the end of this SOA and return it to me

Include summary of the advantages and benefits, risks,

The products if any recommended and how they relate to their goals.

Products are not what they are after - Goals are the outcome...!

  1. Look for Understanding and ask clarifying questions to client
  2. Link SOA with PDS hand to Client when discussing and guide client to SOA and PDS and show linkage
  3. Opportunity to discuss but be aware of over load of features will cause loss of interest and reduction of value and possible confusion.
  4. Opportunity to - Provide any statistics, Facts, Case study, Power point or other visual aid for presentation, Testimonials, Analogies, Examples, Charts, white board, use of computer to present software outcomes
  5. Discuss and be very clear and open to discussion and questions about fees
  6. Discuss your remuneration and your dealer
  7. Clarify understanding by asking questions to client
  1. Sum up –
  2. Fact find
  3. Goals
  4. No Guarantee – however ask yourself if you have provided a reasonable basis to achieve possible outcomes if so sum up these ideas and communicate to the client.
  5. Introduce authority to proceed with SOA
  6. And application
  7. Explain the way forward should they decided to do this – this is what will happen and how it will happen and expected time frame of the application process –
  8. Look for close
  9. Address non-commitment by clear returned questions –
  10. What is it that is stopping you from proceeding?
  11. What is it that you would like address for you to precede?
  12. Some clients like to read everything before proceeding.
  13. Most clients will act on your discussion, recommendations, leadership and presentation on all information – based on the trust you have built up during the meetings
  14. Be aware of administration and time and set this very clearly
  15. Address any obstacles that may need to be included in the application and set time frame.
  16. People just want to know that you have control and understanding of your process and their situation
  1. Complete the application forms – This may take up to an hour.
  2. Be careful not to have them repopulated as it sends the wrong message to the client
  3. You may like to set another time for applications to be completed and then signed by the client.
  4. Clients sometimes become a little confused or unsure and need an adviser when completing and signing the applications to know and feel they are doing the right thing based on your advice.
  5. “PIECE OF MIND”
  1. Is this an ongoing application and recovering /admin process such as super switching and insurance application – this may take up to three months to put in place and needs to be reviewed on at least a weekly basis.
  2. For administration you need to keep files that are in various stages of business.
  1. Always book a follow up meeting within a short time for a follow-up meeting to review the implementation process and understanding of the documents they have received.
  2. This is also a good time to provide clients with folders to safe keep documentation
  3. Business card and referral authority to be provided to client if happy with your advice