F2F Flashcards
I’d Love to have your business
- what would it take to have it today
???
What are our 4 Core Values?
1- our clients interests come first
2- we believe in quality-oriented, long-term investment policy
3- We value working in partnership.
4- Individuals and their contributions are valued
EJ advisors are uniquely qualified to help individual investors meet their needs.
How do we do that? (3)
1- we provide financial information and education to help investors achieve their financial goals
2- we offer investmenty recommendations and advice based on a deep understanding of their needs.
3- we deliver highly personalized, convenient service through offices in the community
What is the EJ Mission?
We help individuals achieve their serious, long term financial goals by understanding their needs and implementing tailored solutions.
What are the 5 Critical Activities for a Financial Advisor?
1- 25 quality contacts
2- asking open-ended questions to obtain financial needs and goals.
3- Present an appropriate solution and ASK for the order
4- Assess each contact and add to Jones Link- indicate next action
5- Contact prospective clients at least every 2 weeks
Key: ALWAYS DO WHAT IS RIGHT FOR THE CLIENT
SOFT MIX
Mission Statement:
1- to provide the information, investments and support individuals need to achieve their financial goals
Name 4 Key Performance Indicators (KPI) used to evaluate your sales performance.
1- Contact Rate (35%)
2- Lead Rate (20%)
3- Quality Contact(15%)
4- Close Rate (25%)
How do determine your Contact ratio?
And what does it tell you?
CONTACT RATE = # of people who open door/ # of doors knocked
Benchmark- 30-40%
- test different days/hours to identity best contact rate
- don’t start at 1 because you’ll be tired when people get home at 5
How do determine your Lead rate?
And what does it tell you?
LEAD RATE = # giving permission for F2F follow-up but no phone #/ # of doors opened
BENCHMARK - 20#
- tells you how good ‘pitch’ is
- people interested in what you had to say but unwilling to give number
How do determine your QUALITY CONTACT Rate?
And what does it tell you?
QUALIFIED CONTACT RATE = # of quality contacts / # of doors opened
T
BENCHMARK- 20%???
- tells you if you are working in Right territory
- forms your pipeline
Eval/Grad GOAL - 800
How do determine your 1st APPOINTMENT rate?
And what does it tell you?
1st APPOINTMENT Rate = # of set appointments set/ # of interactions
- how long it takes to turn a quality contact into a F2F appointment and op to establish client relationship.
How do determine your Close rate?
And what does it tell you?
CLOSE RATE = # of sales/ # of appointments
BENCHMARK- 20% (EJ- 60-70%)
- tells you how good your pitch is
What is the response ratio for oversized mailers (ie- postcards)?
- 25%
- Best response rate of all forms of direct marketing campaign.
How are you different than other investment companies?
- serving and living in our communities
What is the 5 step process?
Discovery Stage
1- determining your current needs
2- setting your goals
Analysis Stage
3- identifying strategies
4-selecting and acquiring appropriate products
On-going Support/follow-up Stage
5-regular review (contact)
What are the five common goals
1- planning for retirement 2-enjoying retirement 3- paying for education 4- preparing for the unexpected 5- saving money on taxes
WIIFM
What’s in it for me
KYC requirements
- time horizon
- risk tolerance
- Investment needs & objectives
- past investment experience/ knowledge
- assets/ liability
- income/ occ stability
- family status
Objection: Not interested
Call- proposing product
I can appreciate that you aren’t interested and its my fault for not explaining how this investment will benefit you.
- explain 1 of the Features/ Benefits
Objection: Not Interested 2nd time
Call: proposing product
The second time you here this, ask questions to find out why they’re not interested. Below are some questions you could ask to dig deeper for information.
1) is it the timing or the investment you are not interested in?
2) I appreciate your feelings, and I wouldn’t expect you to be interested in every investment I show you,,,What do you not like about this investment?
3) What type of investment would interest you?
4) What do you want your money to do for you?
Objection: Not interested
F2F: making contacts
Not interested
If you hear this when you’re making contacts and not presenting something, quickly address it and move forward in the conversation.
1) I can appreciate that but I’m just opening a business in the area and wanted to let my neighbours know about it. How long have you lived in the area?
2) I can appreciate that, when you say you’re not interested, is it because you’re working with someone else or that you do your own research and investing?
Objection: No thank you
F2F:
No thank you is another form of ‘not interested’ if you hear ‘no thank you’ when you are presenting something you can address it as follows.
1) I can appreciate that. Is it the timing or the investment?
2) Well thank you for your time. When I see something good in the future, I will make sure to let you know about it! Just to help me out so that I can present something that will be of interest to you, what type of investing do you do?
Objection: I already have a broker
1) i’m glad that you value professional advice.
Who is your broker?
What firm do you use?
Do you work with another full service firm or is it an advisor at one of the banks?
2)
Have you heard of Edward Jones?
NO
- answers-
Do you have a financial game plan?
1) We provide financial information and education to help investors achieve their financial goals
2) We offer investment recommendations and advice based on a deep understanding of their needs.
3) We deliver highly personalized, convenient services through offices in the community.
