Client PresentationsOvercoming Objections and Closing the Sale

A Transamerica Company

Best Practices Series

“The key to successfully helping a family depends on the strength of your needs-based presentation and how

well you addressed the person’s concerns.”

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Meeting with clients and demonstrating the importance of securing their financial future is a challenging yet critical part of your success in this industry. As a licensed WFG associate, when you meet with a prospective client, the key to a successful needs-based presentation often depends on how well you address the person’s concerns.

To learn more about successful presentations, we interviewed some of WFG’s most accomplished leaders and asked them what they considered were best practices in the area of client presentations, overcoming objections, meeting a client’s needs and closing. Following is what they had to share.

Please note that there are many paths to achieving success with WFG, so work with your organization’s leaders to help craft the best plan for you.

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The Keys to a Successful Client Presentation

1. AgeAre they considering retirement, at mid-career, or just starting out. Their age will tell you something about what their needs may be.

2. Marital StatusAre they newly married or have they been married for a number of years? Can they commit to a long-term plan? Have they done anything to secure the future for their spouse and/or children?

3. Children Do they have children? Raising children means taking responsibility for someone else’s welfare and security. How have they planned for their futures?

4. Home Ownership Do they own a home? Owning a home usually means there is a mortgage, which means they may better understand the rewards of a long-term investment.

“ I always prepare before I meet somebody. When I walk through the door, I know a few things about them and have an idea of what they may need.”

Prior to Meeting a ProspectOne of the most important tasks you must do prior to meeting with prospective clients is to gather information about them. Some of the leaders we spoke to suggest that you should at least have the following eight points of information:

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5. Business Background A person has to overcome challenges when running or working in any business.

6. Income What is their income level? How much income protection do they need? This knowledge allows you to design a better financial strategy.

7. Satisfaction Are they ready to make a career or life change? Are they pleased with the direction of their life and secure in their future?

8. Entrepreneurial SpiritDo they have a history of venturing out on their own? Are they risk takers?

Work with the associate who is introducing you to the prospect to obtain as much information as possible on these eight points. These details can help you determine which areas to focus on as you develop the main topics of your presentation.

Associates also suggest to use the slides from specific brochures in your presentation to emphasize key points such as the X-Curve, managing growth, and understanding risks.

“ People are busy, so focus first on the things that they can relate to and will connect with them.”

The Keys to a Successful Client Presentation

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IntroductionsAs one field leader noted, “First impressions are important. In the first meeting it is important to do the ABC (Advisor, Bridge, Client) triangle. This helps the client see a professional image of the associate.”

Although you may know quite a bit about the clients before you meet them, they’ll know very little about you. It’s necessary to quickly establish trust, both professionally and personally, which is why it’s necessary to coach your associate on the best way to introduce you to them.

In the introduction, it’s important to share some background about the presenter including what relevant licenses the associate has and/or if the associate has a large WFG business. For example, the associate performing the introduction can mention the size of the field leader’s team/business and how many years he/she has been successfully running a financial services business. However, if the presenter is relatively new to WFG, the introduction can emphasize the value of the associate’s experience and licenses so the client respects the presenter’s credentials and listens more closely to the presentation.

The First MeetingYour first presentation is not a sales call. Instead, more often than not, it is an opportunity to share the importance of life insurance coverage and creating a financial strategy with the prospect.

In this first meeting you want to help them understand basic financial fundamentals. Let them know what people go through who do not have proper life insurance or a sound financial plan for their futures. People don’t always understand that life insurance can be the key to a sound financial strategy, so your first approach is to show them why they may need it and ensure they understand its value.

This first meeting is an exchange of knowledge. As one leader noted, “If you come to the first meeting to

sell them a product, they will simply think, ‘Here they come again, another insurance salesperson.’ Trust the product and your client’s intelligence. Once they understand their situation and that there is a need for life insurance and financial services, they will be willing to purchase them.”

During your first meeting, make sure to check the client’s level of understanding of the information you are providing. Are you going too fast? Does the prospect understand all the important facts? Constantly adjust the speed and detail of your presentation to make it more effective. Make sure your prospect understands that what you offer adds value. Share financial fundamentals and give them time to digest these principles. Spend all the time you need to ensure they comprehend what you are sharing with them and answer all their questions.

The Keys to a Successful Client Presentation

“ I believe every single presentation is a winning presentation. It may not deliver a result on the spot but it does give a person a better understanding of the need for financial security. I teach them the X-Curve, the Rule of 72, and show them the wealth formula every time as part of my first presentation.”

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The Keys to a Successful Client Presentation

Gathering InformationThough you came to the first meeting with a general idea of your client’s personal and financial situation, you need more detailed financial information so you can tailor a solution specifically to their needs.

The licensed associates we spoke to noted two major concerns to take into account when gathering information from a client:

1. Clients usually are unaware about the right figures and/or amounts of their finances

2. Clients generally are uncomfortable about sharing personal and financial information with someone they just met

Make sure you give your client time to gather the most accurate information so you can make an informed determination of what solutions may best suit them. Before you meet with them, you may want to provide them with a list of documents they will want to have on hand for the meeting.

Additionally, make them aware of WFG’s privacy requirements and those required by the highly regulated insurance and financial services industries. This may help them feel more comfortable when providing their personal information to you.

The WFG Financial Needs Analysis1 (FNA) form allows you to gather the client’s information in one folder. Leaders advise to stick to this form since it allows you to put all the necessary information in a clear, concise and uniform format. WFG is a duplication business, and using this form offers simplicity and ease to train new associates and for them to duplicate you.

Helping FamiliesAfter you have the opportunity to review the FNA, you have a clearer picture of your client’s current financial and personal situation and their goals. Your knowledge of providers and products offered through WFG allows you to formulate a basic strategy and recommend options for them to achieve their goals and protect their future. Make sure that when you present your solution you ask the client if what you’re suggesting makes sense to them and if they believe it best meets their needs.

You should be confident in your knowledge about the products you are presenting. You should be able to answer the client’s questions, ensure the client is clear on what the products offer and that he/she is willing to close.

“ To help build trust, I assure the client about my license and I use only WFG-approved materials. I assure them all their personal information will be kept safe and confidential.”

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There are a number of common objections you may hear when meeting with a potential client or trying to close the sale. Although there are ways to respond to them, the field leaders we spoke to noted that if you have given an effective presentation that the prospective client understands, then he/she usually won’t have objections.

Following are some of the most common objections and some recommended responses from the field leaders we spoke to for this brochure.

“ I’m not selling to people, I’m informing them and meeting their needs.”

Overcoming Objections

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I want to think about it.I’m glad you want to think about it and make the right decision for your family’s future. Is there any part of the strategy you’re concerned with? Do you have any concerns about what we’re trying to accomplish?

I’m too busy.We can set an appointment for a better time. When is better for you?

OR

This is a very busy time of year. I’m in the area so I’ll drop by to leave some information with you and when we do get together, you’ll be more informed.

I want to discuss it with my dad/wife/significant other.It’s fantastic you have a resource. After you speak with them, it would be great if we all could meet.

One associate noted, “I don’t want to offend anybody so I compliment them on having that resource available to them. I’m also not worried about what they will find, we’re strong and solid enough to stand anyone’s scrutiny. However, I do want to get everyone together because it could lead to a second prospect.”

I don’t believe in insurance.I understand that. I felt the same way at first but once I got educated I learned to appreciate the need and value of life insurance. Let me leave you some materials that will help you better understand how insurance helps you protect the people you love.

I know someone who said the insurance company never paid them after a death.The insurance industry is highly regulated. If someone died and their policy was up to date, the odds are that the insurance company paid the claim. I’ve found that sometimes people don’t want everyone to know they just received a lump sum from an insurance policy, so they may say there was no policy or the policy was not paid.

What if the insurance company closes down?The companies I represent are all highly rated and have been in business for many years. Furthermore, the financial health of insurance companies are regularly monitored and there are procedures in place in each state/province that help protect consumers should an insurance company fail.

“ I’m not worried about what they will find, we’re strong and solid enough to withstand anyone’s scrutiny.”

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Closing the Sale

ABC’s of ClosingUse the ABC formula: Always Be Closing. Though the actual close of a sale takes place on the second or later appointment, the closing process starts from the beginning of the first presentation — as you build trust, educate the client and address concerns.

Small yeses

An example of a small yes is when the client responds positively to the following questions during the presentation, “If I can show you how to save for retirement, are you interested in this?” or “Last time we talked you said you were interested in affordable insurance coverage. If I show you some options would you be interested in learning more?” By asking these small yes questions you are leading the conversation towards a positive closing.

“ Closing is about eight to 10 small yeses that lead up to the final closing. Each of the small yeses opens the door a little. You don’t want to walk into a closed door.”

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“When you see how WFG has helped so many families, you know you can

help someone else.”

World Financial Group and/or WFG consist of:

U.S.:

World Financial Group, Inc. is a financial services marketing company whose affiliates offer a broad array of financial products and services.

Insurance products offered through World Financial Group Insurance Agency, Inc., World Financial Group Insurance Agency of Hawaii, Inc., World Financial Group Insurance Agency of Massachusetts, Inc., World Financial Group Insurance Agency of Wyoming, Inc., World Financial Insurance Agency, Inc. and/or WFG Insurance Agency of Puerto Rico, Inc. - collectively WFGIA.

In the United States, World Financial Group and the WFG logo are registered trademarks of World Financial Group, Inc.

World Financial Group, Inc. and WFGIA Headquarters: 11315 Johns Creek Parkway, Johns Creek, GA 30097-1517. Phone: 770.453.9300

TFA Headquarters: 570 Carillon Parkway, St. Petersburg, FL 33716. Phone: 800.322.7161

Canada:

World Financial Group Canada Inc. is a financial services marketing company whose affiliates offer a broad array of financial products and services.

World Financial Group Insurance Agency of Canada Inc. (WFGIAC) offers life insurance and segregated funds.

In Canada, World Financial Group is a registered trademark of World Financial Group, Inc.

Headquarters: 5000 Yonge Street, Suite 800, Toronto, ON M2N 7E9. Phone: 416.225.2121

FOR INTERNAL USE ONLY. NOT FOR USE IN QUEBEC

©2016 World Financial Group, Inc. 3001/5.16

This brochure is based on information obtained through interviews with WFG licensed associates from the WFG Leadership Network or who are in the top of net personal points. Special thanks all quotes attributed to: Jack Akopikyan, Sophia Chung, XueFeng Gao, Sunny Huang, Sandy Liu, Peter Ly, Mary Ann Pamplona, Simon Shen, Rocky Shi, Zhong Shi, Amandeep Singh, Teresa Tang-Wong, and Terry Wengert

1 The WFG Financial Needs Analysis (FNA) is a tool developed to define your client’s current financial situation and to identify products and services through World Financial Group Insurance Agency, Inc., in the United States, and World Financial Group Insurance Agency of Canada Inc in Canada. This analysis provides only broad guidelines, and it is based on the accuracy and completeness of the data provided by the client. The analysis uses sources that are believed to be reliable and accurate, although they are not guaranteed. Advise your client to discuss any legal, tax or financial matter with the appropriate professional. The information presented and any opinion expressed does not constitute a solicitation for the purchase or sale of any specific security or financial service. In Canada, due to regulatory constraints the WFG Financial Needs Analysis program is prohibited for use with mutual fund clients/clients of WFG Securities Inc. as well as with clients who reside in Quebec.

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