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Wealth Counsel Exploring a Client Maintenance Program With Existing Clients Implementing With Confidence

Wealth Counsel Exploring a Client Maintenance Program With Existing Clients Implementing With Confidence

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Page 1: Wealth Counsel Exploring a Client Maintenance Program With Existing Clients Implementing With Confidence

Wealth CounselExploring a Client Maintenance Program With Existing Clients

Implementing With Confidence

Page 2: Wealth Counsel Exploring a Client Maintenance Program With Existing Clients Implementing With Confidence

What is a Client Maintenance Program?

• A pro-active method of estate planning which allows the estate planning attorney to establish a consistent revenue stream while ensuring they provide the best advice and planning for their client.

Page 3: Wealth Counsel Exploring a Client Maintenance Program With Existing Clients Implementing With Confidence

Why Implement a Client Maintenance Program?

• Removes a Client Primary Objection to Review So That They are no Longer Unknowingly Exposing Themselves to Estate Complications.

• Increased and Consistent Revenue• Increased Referability for Those Who Know Friends

With Complex Estates That Have Not Been Reviewed.

Page 4: Wealth Counsel Exploring a Client Maintenance Program With Existing Clients Implementing With Confidence

My Own Story

• Put the Leather Binder on the Shelf• Bring on the Letters!• Why Didn’t I Protect My Estate

• If Clients Don’t Understand How an Estate Plan Can Be Affected on an Ongoing Basis There is no Urgency to Have it Reviewed.

Page 5: Wealth Counsel Exploring a Client Maintenance Program With Existing Clients Implementing With Confidence

So Why Doesn’t Every Estate Planning Attorney Do It?

• How Will My Clients Re-act to Fees They Are Not Used to?

• Do I Just Draw a Line in the Sand and Only do it With New Clients?

Page 6: Wealth Counsel Exploring a Client Maintenance Program With Existing Clients Implementing With Confidence

Interactive Client Surveys or Focus Groups: Gain the Confidence to

Move Forward?• Interactive Client Surveys: A one to one

meeting that is exploratory and feedback driven but allows you to present a concept without commitment and risk.

• Focus Group: A group of clients giving you their insight and feedback into concepts without the perception that you have committed to the platform.

Page 7: Wealth Counsel Exploring a Client Maintenance Program With Existing Clients Implementing With Confidence

How Will These Strategies Help You?

• Isolate the Clients That You Feel Would Benefit From a Client Maintenance Program.

• Present the Concept to Them Without the Perception that you are now Charging them Fees.

• Get Their Honest Feedback on the Business Model so you can Implement With Confidence.

Page 8: Wealth Counsel Exploring a Client Maintenance Program With Existing Clients Implementing With Confidence

Step One- Develop Your Agenda/Objectives

1. To Present a CMP Business Model to Key Clients

2. Learn What Value the Business Model has From a Clients Perspective

3. Learn What Objections Clients Have to the Program and What Fees are Reasonable

4. Learn the Most Effective Way to Move Forward With the Model

Page 9: Wealth Counsel Exploring a Client Maintenance Program With Existing Clients Implementing With Confidence

Step Two- Selecting Your Participants

Identify the Clients that Would be the Most Likely Candidates for the Concept.

Page 10: Wealth Counsel Exploring a Client Maintenance Program With Existing Clients Implementing With Confidence

Step Three- Selecting Your Location

Always select an environment that is free of distraction and ideally an environment that you control:

1. Your office

2. Your clients office

3. Universities/Public Libraries (groups)

Page 11: Wealth Counsel Exploring a Client Maintenance Program With Existing Clients Implementing With Confidence

Step Four- Structure the Meeting

1. Introduction- First three to five minutes

2. Presentation- Ten to twenty minutes

3. Discussion Questions- Twenty to thirty minutes.

4. Written Survey- 10 minutes in groups/send with them in one to one meetings

Page 12: Wealth Counsel Exploring a Client Maintenance Program With Existing Clients Implementing With Confidence

Step Five- Inviting Participants

Done over the phone or in person

-Example script

-Don’t delegate the phone call

Page 13: Wealth Counsel Exploring a Client Maintenance Program With Existing Clients Implementing With Confidence

Step Six- Conducting the Session

The Difference Between One to One/Groups

-Introduction

-Presentation

-Discussion

-Survey

Page 14: Wealth Counsel Exploring a Client Maintenance Program With Existing Clients Implementing With Confidence

Step Seven- The Follow Up

1. Follow up on client feedback first.

2. Follow up on needs that were discussed in the meeting.

3. Move forward with Client Maintenance Program and Reviews.

Page 15: Wealth Counsel Exploring a Client Maintenance Program With Existing Clients Implementing With Confidence

The Results

• You Will Have Solid Feedback From Those Who are Likely to Use the CMP.

• You Can Implement With Confidence.• You Have Created the Need for Reviewing

Documents in a Comfortable Environment.

Page 16: Wealth Counsel Exploring a Client Maintenance Program With Existing Clients Implementing With Confidence

How to Use the Training Material

1. Two Hour Detailed Training Session on the Basics

2. One Hour Audio Specifically About Educating Clients About Your Transition to Estate Planning Complete With Scripts and Templates.

3. Recording of this Phone Call Covering Additional Details