Consequence Awareness Questions: Call 2 (step 5) Flashcards
(6 cards)
Emphasize the Risks of Inaction, Introduce the potential consequences of not addressing their challenges. Be empathetic but direct to heighten urgency.
o “If you don’t make changes to [specific issue], how do you think that could affect your retirement timeline?”
What’s the long-term cost of continuing to [use their current approach] without a strategy?”
o “How would you feel if 5-10 years down the road, this challenge still isn’t resolved?”
John, what if you don’t do anything about “insert problem” and the situation gets worse?
Have you considered the long term consequences of “low returns, poor tax planning, no estate planning, poor diversification” and how that would affect you and your family?
John, I mean, what are you going to do if nothing changes, and you continue to use this advisor and getting the same poor service/low returns for the next 3, 6, 12 months?
Does that cause you to be concerned?
Have you considered the consequences of not doing anything?
What if you lost xxx% in your portfolio because of this?
What would it do to you personally if you didn’t solve this problem
How would your life be different
How would it make you feel if you weren’t able to solve this?
Are you willing to settle for that? (follow up to 1st consequence quesiton)
How important is it to you to change your situation, start “insert solution like higher return, save on taxes” so you can retire on your timeline, put more money towards vacation fund, pass more money to your grandkids”
But why is this so important to you now though?
So time for a change possibly?
TRANSITION TO PRESENTATION STATEMENT (after saying “so time for a change possibly”)
Based on what you’ve told me, what we’re doing would actually work for you because you know how your saying your portfolio is down “xxx” when the rest of the market has been doing much better (or insert some other problem) and its causing you to feel like your advisor may not be the best fit for you. I think you mentioned a little bit of “insert emotion, ie stress, frustration or worried” with your advisor? (its important to downplay with saying “a little bit” so that the prospect doesn’t defend their advisor).
Well this is what I do, and how it will work for you.
