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CONVERT PROSPECTS TO NEW CLIENTS: FIRST APPOINTMENT – DATA GATHERING

Date & Initial When Completed (or N/A)

Enter Prospect’s Contact Information in CRM System

Basic information you will want to obtain from a prospect: Name Spouse’s Name Address Home Phone Number Work Phone Number Email Address Enter the new prospect information in CRM system.

o Update the information to identify this contact’s status as a prospect in CRM system.

Enter how the prospect became aware of the practice in CRM system. Some examples are:


Goals 1 - 3Due: 1 - 10

Days

Begin Quick Start Guide

Initial Prospect Contact

Create Prospect

Packet

Print Media (e.g., retirement article, The Wall Street Journal) Workshop (e.g., Identity Theft workshop, 4th of July

Celebration, Retirement Seminar) Radio (e.g., KXKT, KGOR) Referral (e.g., John Smith) Team member’s friend or family (e.g., advisor’s aunt) TV (e.g., NBC, Fox ) Website (e.g., www.carsonwealth.com)

Enter where the prospect is in the Prospect to New Client Process in CRM. 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

The advisor should review all individuals with the status of prospect every three months to determine if the client status should be changed to drip or former prospect.

Link Referral and Client Contact Records Anytime an existing client refers a prospect to the practice, link the

two records. This will allow you to easily track an unlimited number of referrals among clients and notify clients about prospect’s status to become a new client.

Assemble Contents of Prospect Packet Create Prospect Packet and insert into a pre-printed company folder which can be purchased

through Peak’s Brand U: https://secure.fmgsuite.com/brand-u.

Insert the materials from back to front:LEFT SIDE

o Tax planning information (if applicable).o Estate planning information (if applicable).o Most recent newsletter.o Advisor’s bio (printed in-house to keep material current).

To create your own bio, make sure to include three paragraphs:

Tell me about your current role at the firm:o What major tasks do you perform? How

do you specifically serve clients? o What is your interaction with clients? o What is your favorite part of your role? o What is your greatest passion as it

relates to the profession? What are your past experiences:

o Where did you attend school? What degrees do you have?


https://secure.fmgsuite.com/brand-u

http://www.carsonwealth.com/

o What is your previous work history? o Have you received any awards,

designations, or accreditations? o Are you involved in any industry

groups? What is your life like outside of the office:

o How do you spend your free time? o What is your family like? o What kind of hobbies do you partake

in? o Are you involved in any

community/volunteer organizations? o Company brochure:

A brochure can be included in your prospect packet or as a stand-alone offering to prospects interested in learning more about your firm.

o Bill of Rights:

View Carson Wealth’s Bill of Rights sample in Digital Fortress’ Resource Library and within the lesson titled Convert Prospects to New Clients: First Appointment – Data Gathering.

RIGHT SIDEo Large, metered return-addressed envelopeo Confidential Profile:

The Confidential Profile is a profile a prospect should complete and return prior to meeting with the advisor.


View the profile found in Digital Fortress’ Resource Library and within the lesson titled Convert Prospects to New Clients: First Appointment – Data Gathering.

o Prospect Packet Cover Letter: This letter will introduce the prospect/referral to your

practice.

Prospect Packet Letter #1




Prospect Packet Letter #4 (Referral)

View the letters found in Digital Fortress’ Resource Library and 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.o The advisor’s business card is placed in slit which can be

purchased through Peak’s Brand U: https://secure.fmgsuite.com/brand-u.

Carson Wealth Management Group’s business cards are clear to reflect the ‘transparency’ in which they work with clients. These can be ordered from Plastic Printers (www.plasticprinters.com).

Business Card Samples

Have 20 Prospect Packets assembled at all times.


https://secure.fmgsuite.com/brand-u

Personalize Handwritten Note to Accompany Prospect Packet

Handwrite a note to the prospect using a customized note card from the advisor if prospect is from a client. Write a note from the senior advisor if the prospect is from another source. The note should state:

My team and I look forward to the possibility of working with you. You will not find a staff more committed to providing you with a great experience.

I look forward to seeing you soon.[Insert Advisor’s Name]

The purpose of the handwritten correspondence is to convey the level of personalized attention the prospect will receive if they decide to become happily engaged with the practice. Note card measures 7 x 5 inches.

Paperclip the note card to the outside of the Prospect Packet.

Mail Prospect Packet Within 48 Hours of Inquiry Handwrite the address of the prospect on the envelope.

Stamp the envelope with real stamps versus bulk or metered postage.

Create Entry in Prospect’s CRM Contact Record Indicating Day Packet Mailed

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:

o Prospect Packet (e.g., requested, sent, not qualified, refused to return, qualified)

o Data Gathering Appointmento Proposal Appointmento Implementation Appointmento Allocation Appointmento Initial Review/Updateo Periodic Review/Update Appointment/Update

Schedule Follow-up Call on Advisor’s Calendar 14 Days Out

Schedule a follow-up call on the advisor’s calendar to contact the prospect 14 days from the mailing date of the Prospect Packet. The advisor will determine the prospect’s intent to return the Confidential Profile.


Schedule Reminder on Team Member’s Calendar to Follow-up with Advisor 18 Days Out

Verify advisor has contacted prospect from the call that appeared on his/her calendar.

Send Thank You to Client Who Provided Referral

Every time a client sends a referral, he/she should be sent a Referral Thank You Letter. Variations for the Referral Thank You Letter are as follows:

Referral Thank You Letter #1(Used primarily for the first referral)

Referral Thank You Letter #2(Used primarily for the second referral)

Referral Thank You Letter #3

o View the letters found in Digital Fortress’ Resource Library and 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. Schedule monthly reminder on the advisor’s calendar to call client, who referred the prospect,

on the status of the Prospect to New Client Process. This should happen monthly until the prospect becomes a client or refuses to continue with the process.

Advisor Calls Prospect to Determine Intent to Return Confidential Profile


Advisor calls the prospect to determine if he/she will be returning the Confidential Profile and answer any questions. This call was prompted by the calendar item scheduled for the advisor in a previous step of this checklist.

The advisor may suggest to the prospect that he or she forward any statements versus completing the “Family Balance Sheet” page of the profile.

If the advisor is having difficulty encouraging the prospect to return the Confidential Profile, pre-qualifying the prospect at the very least will save some time before scheduling an in-person appointment with the prospect. Some questions to ask to qualify the prospect are:

o What can we do to help you?o Have you worked with an investment advisor in the

past?o Do you have any pressing needs at this time?o What assets do you have to work with?o Do you have any questions for us at this time?

Advisor should make a notation of the content of the call in CRM.

Follow-up with Advisor on Progress Made with Prospect

Verify advisor has called the prospect to determine his/her intent to return the profile. This reminder was prompted by the calendar item scheduled in a previous step.

Advisor will indicate if a change in the tracking of the Prospect to New Client Process is needed.

Advisor will indicate if prospect needs to be changed to a different status (e.g., drip, former prospect) due to the prospect’s intention to not return the profile.

Complete the calendar action.

Schedule Call for Advisor to Follow-up with Prospect Again in 10 Days

Schedule a follow-up call on the advisor’s calendar to contact the prospect again in 10 days. The advisor will determine the prospect’s intent to return the Confidential Profile.

Follow-up with Advisor on Progress of Second Attempt

Verify advisor has contacted prospect from the call that appeared on the calendar.


In the CRM system, enter where the prospect is in the Prospect to New Client Process. Some of the stages to track in the process are:




Change Status if Prospect Won’t Be Returning Confidential Profile

If the prospect is not interested in returning the profile, the advisor will then decide if the status should be changed to drip or former prospect.

Track Change in Prospect to New Client Process in CRM when Confidential Profile Received




Enter Information Obtained from Confidential Profile in CRM

Go through all information reconfirming the accuracy of the existing information in CRM system against the information provided on the Confidential Profile.

Where there are discrepancies, the data should be updated based on the information provided in the profile. If there are questions regarding the reflected data, consult the advisor.

As your CRM allows, add as much information as possible from the profile. The Concerns, Objectives, and Risk Tolerance information will be used by the advisor and not generally maintained in CRM. From the profile, you may be able to maintain the following information:

o Birth dates (primary and secondary contact)© Peak Advisor Alliance of 21

Goals 4 - 6 Due: 15 - 30

Days

Prep for Data Gathering

Appointment

Hold Data Gathering

Appointment

Follow-up after Data Gathering Appointment

Immediately

o Marital statuso Wedding anniversary (if applicable)o Children’s information (name and age)o Employer (primary and secondary contact)o Attorney’s nameo Accountant’s nameo Net wortho Liquid net wortho Annual incomeo Source of incomeo Employer informationo Investment objectiveso Tax bracketo Checking Account(s)o Saving Account(s)o Accounts not eligible for transfero Asset/Liability Detail Recordo Homeo Automobileo Credit Cardso Mortgage

Forward Confidential Profile to Advisor to Review

The advisor reviews the information, lets the team know a profile was returned and by whom, and determines if the prospect is qualified or meets the practice minimums.

The senior advisor determines who the prospect will work with if he or she has not already been assigned to an advisor.

Schedule Data Gathering Appointment with Prospect

Scheduling Do’s and Don’ts:o Allow only one person to do the scheduling to avoid scheduling

conflicts.o Know which times the advisor has set aside for prospect

appointments (e.g., Tuesday and Thursday from 9:00 a.m. – 5:00 p.m.).

o Data Gathering Appointments are scheduled for 120 minutes.o Remember to schedule a conference room. o Remember to schedule other individuals who should be

included in the appointment (e.g., Wealth Plan Specialist).o Call the prospect to schedule appointment.o Use script as follows:


Hello, may I speak to {Prospect’s First Name(s)}? This is {Your Full Name} calling from {Practice Name.} {Advisor’s First Name} asked me to call you to set up a time for you to come in to review the profile you recently returned to us.

We’re currently setting appointments during the week of {Month and Date.} Is there a time of day or day of the week that works best for you? (Work with the client to find a suitable time that fits within the advisor’s preferred schedule. Give client a specific date and time as a suggestion.) Does Monday, the 13th, at 11:00 work for you?

Great. We’ll see you Monday, the 13th, at 11:00. We look forward to the meeting. If you have any questions beforehand or need to reschedule, please call me at {Your Direct Line} or {Your toll-free direct line.}

Place the appointment on the advisor’s calendar and other calendars as needed (e.g., conference room, other members of the team who should attend the appointment).

If you are holding an appointment in the conference room, but you didn’t reserve it first and an appointment that was previously booked arrives, you and your clients/prospects will be asked to forfeit the meeting space to the person who followed the system.

Schedule a half-hour appointment on the advisor’s calendar immediately following the Data Gathering Appointment to dictate notes and follow-up actions.


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:o Prospect Packet (e.g., requested, sent, not qualified, refused to

return, qualified)o Data Gathering Appointmento Proposal Appointmento Implementation Appointmento Allocation Appointmento Initial Review/Updateo Periodic Review/Update Appointment/Update

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 Email} with questions.

We look 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 Documents Needed for Data Gathering Appointment

Appointment Sheet — consolidates specific information about a client or prospect scheduled for an appointment. Some of the information you may wish to maintain in your Appointment Sheet are:o Appointment date and timeo Birth date(s)


2 Weeks Prior to the Appointment

o Accounts held outside the advisor’s custodyo Asset/Liabilities (e.g., home, credit cards, etc.)o Long-term care insuranceo Insurance (e.g., Term, VUL, etc.)o Other Insurance (e.g., Health, Disability, etc.)o Beneficiaries

Discovery Questions for Clients and Prospects or Stairstep Questions for Wealth Advisors – two different ways for advisors to elicit personal information from prospects. For more information on these two tools, see Digital Fortress’ Resource Library or the lesson titled Ethical Persuasion: Connect with Potential Clients During the Initial Meeting Process.

Discovery Questions for Clients and Prospects

Stairstep Questions for Wealth Advisors

Proposal or Financial Planning Paperwork – if the advisor is 80% sure of the chances of the prospect becoming a new client, have the necessary paperwork ready:


o Create and print Enhanced Services Engagement Letter which lays out the costs for using additional services provided by the advisor (e.g., estate planning, comprehensive financial plan, tax planning, etc.):

Enhanced Services Engagement Letter (With Maintenance Fee & No Maintenance Fee)

o View these letters in Digital Fortress’ Resource Library or within the lesson titled Convert Prospect to New Clients: First Appointment – Data Gathering. In the second paragraph, enter the date when the plan was

agreed upon. On the second page, enter the following:

Rate of investment return Investment time horizon – input the number of years to

take the client to age 95 Annual inflation rate – the percentage currently used Funeral expense Investment objective

On the second page, complete the timeline, using the following as a guideline for entering the dates: Sign and return the Schedule A, Engagement Letter, and

Consent – one week if mailed Complete and return Wealth Plan Worksheet – 11-14 days

after above Deliver requested documents not previously provided –

same as above Answer any additional questions needed to complete plan –

two weeks after above Aggregation of assets into web page – two weeks after

above Final presentation of wealth plan – three weeks after above

On page three, enter the wealth plan fee. Print two copies:

Print page 1 on letterhead


Print pages 2-6 on plain papero Create and print Wealth Plan Worksheet to gather additional

information needed to develop a financial plan. Bind the document with a clear front and back cover. Pages (tabs) maintained in the spreadsheet are: Personal Assets Options, Business, and Liabilities Expenses Goals and Advisors Additional Information Document Request

Wealth Plan Worksheet

o View this document in Digital Fortress’ Resource Library or within the lesson titled Convert Prospect to New Clients: First Appointment – Data Gathering.

Broker/Dealer Forms – forms such as the financial planning documents (e.g., ADV part II, Schedule A, Financial Planning Client Agreement) and/or new account paperwork 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: First Appointment – Data Gathering.

Prospect Data Gathering Appointment Held with Advisor

Appointment Sheets are printed on a daily basis for each client/prospect that 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:

o In-office Appointment Sheets are given to the Director of First Impressions to review prior to the prospect’s arrival for the appointment.

o Phone Appointment Sheets are given to the appropriate advisor to reference during the phone conversation.

o Out-of-office Appointment Sheets are given to the advisor prior to the out-of-office appointment.

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.).

The Director of First Impressions greets all prospects by name as they arrive for their scheduled appointments.

The 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, Discovery Questions for Clients and Prospects or the Stairstep Questions for Wealth Advisors, financial planning paperwork, Reminder Form, and the prospect’s Confidential Profile.


Day of the Appoinment

The advisor reviews briefly the information in the folder prior to meeting with the prospect.

The advisor asks the prospect the Discovery Questions for Clients and Prospects or Stairstep Questions for Wealth Advisors.

The advisor meets with the prospect to review the information supplied in the Confidential Profile, as well as determine his or her suitability for working with the practice.

In the back of the Wealth Planning Worksheet is a document request form for the most commonly needed forms. For all other missing information, complete a Reminder Form for those actions the prospect must complete for the advisor to put together the proposal. Give one copy to the prospect and keep a copy for your file. The prospect can call, mail, email, or bring the information to the office.

Advisor Schedules Proposal or Financial Planning Appointment with Prospect

Advisor accesses calendar to view availability within the next four to six weeks to set Proposal Appointment or Financial Planning. A time is agreed upon and if a Comprehensive Financial Plan is being generated, a financial planning fee will be charged, and the required paperwork will be completed.

Advisor shows Prospect out.





Schedule Follow-up with Team Leader about Proposal or Financial Planning Appointment

Advisor meets with Team Leader to discuss outcome from appointment, follow-up needed, paperwork for submission, and date and time of next appointment.

Update calendar to reflect completion of the Data Gathering Appointment.


Follow-up After the Appointment

Place the Proposal Appointment on the advisor’s calendar and other calendars as needed (e.g., conference room, other members of the Team who should attend the appointment).

If you are holding an appointment in the conference room, but you didn’t reserve it first and an appointment that was 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 prospect needs to return to prepare the proposal. Don’t allow more than one week to go by without touching base with the prospect on these items.

Schedule a half-hour appointment on the advisor’s calendar immediately following the Proposal Appointment to dictate notes and follow-up actions.

Enter Information Collected from Data Gathering Appointment in CRM

Add the answers to the Discovery Questions for Clients and Prospects to the information contained in the Appointment Sheet.

Initiate Prospect Meeting Thank You Letter #1 Following the Data Gathering Appointment, the Prospect Meeting Thank You Letter #1 is sent

by the Advisor.Prospect Meeting Thank You Letter #1


o Print and review the letter for errors.o Make corrections to the letter as needed.o Print on letterhead and have advisor sign.o Make copies as per your compliance and retention

systems.o 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, is required.

Prospect Meeting Follow-up Letter



o Print and review the letter for errors.o Make corrections to the letter as needed.o Print on letterhead and have advisor sign.o Make copies as per your compliance and retention

systems.o Address envelope, print label, or place letter in window

envelope.

Send Prospect Turn-down Letter (if applicable) If the advisor decides, for whatever reason, this relationship would not

be a good fit for the practice, the Prospect Turn-down Letter is sent to notify the prospect of that decision.

If this individual was a referral from a client, the advisor should also call the client as a way to “train” the client in the actual type of clients the practice is looking for.

Prospect Turn-down Letter


o Print and review the letter for errors.


o Make corrections to the letter as needed.o Print on letterhead and have advisor sign.o Make copies as per your compliance and retention

systems.o Address envelope, print label, or place letter in window

envelope.
