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Some clients overspend so people will perceive them as being successful. Others may be reluctant to share the truth about their financial situation. How do you find out what clients actually have and how you can help? In this episode, MDRT members share techniques that have helped them better understand what client assets really look like.

You’ll hear from:
Peter Jason Byrne
Danielle J. Genier, CFP, CLU
Jonathan Godshall Camacho, LUTCF, MBA
Randall D. Kaufmann

Episode breakdown:
0:32 – When someone presents as wealthier than they are
2:04 – Establishing trust so a client will share challenges happening in their business
3:44 – When clients aren’t respectful or forthcoming
5:31 - Meeting with someone who needs to cut back on spending
7:18 – Feeling surprise when prospects have no planning in place
12:44 – Clients who feel responsibility toward finances but don’t know what they have

Byrne shares how he transitioned from quotes to fees for insurance-only advice and some of the best practice ideas that helped him stop doing free work.

Byrne describes how he prepared a letter to extend the care he provided to strangers to his friends as well and quickly saw that effort pay off. Presented at the 2017 Annual Meeting.

One of the best ways to create a strong foundation for your practice is to institute a formal financial philosophy that outlines what you expect your advisors to cover in client meetings. This could include how you recommend your employees address life insurance, premiums strategies or critical illness coverage. Having these standards in print holds your employees accountable while also encouraging them to confidently express their professional opinions. Top of the Table member Peter Jason Byrne shares how you can ensure quality in all areas of your practice and set the tone for client expectations as well.

One of the best ways to create a strong foundation for your practice is to institute a formal financial philosophy that outlines what you expect your advisors to cover in client meetings. This could include how you recommend your employees address life insurance, premiums strategies or critical illness coverage. Having these standards in print holds your employees accountable while also encouraging them to confidently express their professional opinions. Top of the Table member Peter Jason Byrne shares how you can ensure quality in all areas of your practice and set the tone for client expectations as well.

Byrne uses tangible reminders with his clients of the benefits of setting goals and buying insurance.

Do you provide unique gifts to fit your clients’ interests? Do you hold them accountable to their goals? In this episode, MDRT members share some ways in which they make themselves stand out to their clients.

You’ll hear from:
Peter Jason Byrne
Danielle J. Genier, CFP, CLU
Jonathan Godshall Camacho, LUTCF, MBA
Randall D. Kaufmann

Episode breakdown:
0:33 – The benefit of branded teddy bears
3:11 – Calling clients to sing “Happy birthday” to them
4:27 – Having clients identify their interests to utilize as gift opportunities
6:37 – Holding clients accountable as a means to ensure success
10:58 – Inviting clients to send postcards from their dream vacation spot

Occasionally you don’t choose the right words with clients, whether it’s because of something you wish you said or something you wish you didn’t. In this episode, MDRT members share times when the conversation did not go well and how they adapted their approach moving forward.

You’ll hear from:
Peter Jason Byrne
Danielle J. Genier, CFP, CLU
Jonathan Godshall Camacho, LUTCF, MBA
Randall D. Kaufmann

Episode breakdown:
0:31 – Do not say anything unless you’re sure your client is pregnant
1:03 – When a young advisor learns to treat every client with respect
2:56 – Making sure not to make assumptions about less-engaged clients
5:24 – The complexities of family businesses
7:11 – Struggling to recover from a faux pas

One of the best ways to create a strong foundation for your practice is to institute a formal financial philosophy that outlines what you expect your advisors to cover in client meetings. This could include how you recommend your employees address life insurance, premiums strategies or critical illness coverage. Having these standards in print holds your employees accountable while also encouraging them to confidently express their professional opinions. Top of the Table member Peter Jason Byrne shares how you can ensure quality in all areas of your practice and set the tone for client expectations as well.

Byrne shares how he transitioned from quotes to fees for insurance-only advice and some of the best practice ideas that helped him stop doing free work.