Close 95% Of Prospects at the 2nd Appointment

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Close 95 Of Prospects at the 2nd Appointment
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• Get the 1st Appointment Right
• Your goal for the first appointment is to get a
  second appointment. First, limit your first
  meeting to 60 minutes. This will keep you from
  talking too much. Use your time as
• follows
• First 5 minutes to establish rapport
• The next 50 minutes to ask questions
• The final 5 minutes to get a commitment for the
  next appointment.

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• Second, tell prospects to bring their tax return
  and investment statements so you can forget about
  wasting time fact-finding during the appointment.
  
• Use the appointment for emotional fact-finding.
• Use this time to find out how prospects feel
  about their investments and financial situation.
• Ask open-ended questions, such as I see you paid
  50,000 in taxes.
• Does that irritate you?
• How do you feel about having 80 of your
  portfolio in equities?
• Are you worried about the low rates you are
  getting?

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Follow up feeling questions with impact
questions If I could show you how to reduce your
taxes in half, how would that impact you? Heres
the point financial advisors manage
relationshipswe dont manage portfolios.
Therefore, you must spend most of your time
asking about how prospects feel and how changes
would impact their lives. You need to know whats
important to them and sell to those issues. If
you merely sell to ambiguous goals like reduce
taxes or increase income, without the prospect
understanding the impact in their life, you
are likely to hear at the end of the meeting,
Ill think about it. Also make sure you know
what concerns your prospects by asking
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What questions or concerns would you like to
discuss today? Its as simple as that. And people
will come right out and tell you. Carefully write
down their hot buttons because you will refer to
them often. Third, dont sell a financial
plan. Its okay if you do a financial plan, just
dont use those words. A financial plan an
abstract term to prospects. They dont want a
planheres what they want ? To have sufficient
funds to send their grandchildren to the best
possible college ? To have financial independence
in their later years ? To have an adequate return
so they dont consume principal
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So please dont end your interview with I charge
900 to do a financial plan. End your interview
with Mr. Smith, if knowing your grandchildren
can go to the best possible schools, having the
peace of mind knowing you wont need to use
principal and having financial security in your
later years is important to you, I can provide
that to you. I can put together the solutions for
these issues and that will take 6 hours of time.
My rate is 150 and hour. So if knowing your
grandchildren can go to the best possible
schools, having the peace of mind knowing you
wont need to use principal and having financial
security in your later years is worth 900 to
you, lets meet again next Wednesday.
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Prospects can sink their teeth into benefits but
they cannot grasp the value of a financial
plan. Youll end your first with a commitment
that they are serious and eliminate the tire
kickers. Because if they do have a problem with a
few hundred dollars, you dont want them as a
client. By the way, you must charge fees for
your time if you want to be taken seriously. To
charge fees, you need to become an RIA and you
can find more details at www.registered-investment
-advisor.com
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What to Do at Second Meeting Review the concerns
that your prospects had expressed at the first
appointment. Be sure to repeat their words
accurately. Next, un-sell their current
investments. If you skip this step, you will have
a harder time closing. Your prospects have a
loyalty to their current investments, even if
they perform poorly. Youve heard the saying,
The devil you know is better than the devil you
dont know. You must show prospects why they
should release their current investments before
you present your recommendations. Most investors
own mutual funds. Print a Morningstar report on
each one. Show prospects how their fund compares
to the market and similar funds. Ask if they
think they should still keep that investment.
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whether their advisor told them about high
portfolio turnover and expenses. After you do
this two or three times, their resistance to
sever the relationship with their current advisor
will disappear. Next, create an opening for your
recommendations by picking up the sell pile. You
Youre probably wondering what we should do with
all this cash. Prospects Yeah, yeah, what are we
going to do with it? You Well, let me show
you. You have their attention and they are ready
to accept your recommendations. Show your
recommendations and tie each one to a benefit
that they said they wanted. Close with If this
makes sense to you, then heres all we need to
do
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Why You Lose Sales? ? Presenting solutions too
early ? Not asking enough questions shooting
in the dark ? Not asking feeling and impact
questions ? Guessing ? Having a product
agenda rather than a client agenda
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Pick the Right Prospects The right prospects are
people who come to you because they made the
first move. Realize that the way you prospect
will determine how easy it is to close people.
For example, prospects that attend a seminar from
an invitation in the mail have made the first
move. They actually put forth the effort by
coming to the seminar. If you put an ad in the
newspaper and they call for the free booklet,
they made the first move. If you sent out some
direct mail and they respond to it, they made the
first move. On the other hand, prospects you get
by cold calling will be harder to close because
you made the first move. They werent the ones
who expressed the interest you went after them.
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You cant be all things to all people, so dont
try. You can only work one target market for
maximum success. If you want a higher closing
ratio, you need to understand how prospects
think. Pick a target market, focus on it, and
youll find that your closing ratio goes up
because youll become more masterful with the
same group of people. To see details on
marketing systems that employ these strategies,
see www.javelinmarketing.com
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Thank You