Addie Woods Consulting Co

Click on the links below to read and download articles.

Advisors should not only segment their book of business, they also should segment their resources.  This article is about wholesalers; understanding what they do and how they can help you leverage your time and resources.

Wholesaler Resources 

One of the best ways to learn about your client's lifestyle is to understand how they allocate their income.  What are the financial priorities in their lives?  Use the Cash Flow Summary below.  Start with yourself.  What is important to you about money?

Cash Flow Summary

Talking about the 1040 Income Tax Return is a great conversation with a client.  In this article you will learn how to have a conversation about the various line items of the return.  You will find talking points that will help you and your client uncover problems than will lead you to solutions (also known as sales).

Financial Planning Conversations and the 1040 Tax Return

Have you thought about making contact with CPAs?  How would you approach them?  What would you say that would encourage them to work with you and eventually refer you to their clients?  Click on the article below to learn more about working with CPAs.

Creating a Flow of Business

Help your clients keep their promises to their families and get the things done that they haven't done.  Encourage your clients to put together a fireproof/waterproof file box. This box should contain all of the important information and documents that would be needed in an emergency, or in case of death. 

Click hereto download a suggested list of items that should be in the Fireproof FileBox.  Below is a link to download a template which you can use to print self-adhesive file labels.  It is suggested that you use Avery Label Form 5366, or any sheet that contains 30 self-adhesive labels per page.  The file labels can be attached to Smead Fastab or any other hanging file folder system.

Label Set 1

Label Set 2

Do you have a unique client event or seminar topic that will draw people?  Consider the Gift of Answers seminar.  It is a story about helping people do the things that they know they should do.  It is a story about passing on tradition, knowledge and information to family members.  It is about giving the family the answers to questions that they will have following the death of a loved one.  When you match up the Fireproof FileBox, The Beneficiary Book, your Financial Planning tools with this seminar, you have a unique and differentiating story to tell your prospects and clients.

Click here to download a copy of the Gift of Answers PowerPoint Presentation.

If you had ten minutes to evacuate your home, what would you take with you?  If you could answer this question, would you be able to locate all of it in ten minutes?

 Getting Organized

If you had a medical emergency tonight, could you or your family locate your medical information for the hospital?  Do you have powers of attorney, health care declarations, or HIPPA authorizations?

If you had a major fire or burglary, how difficult would it be to recall what was lost or stolen?  Do you have a video or snapshots of every room in your home?  Do you have purchase receipts?

We all know that we should get organized and have all our important papers in a safe accessible location, but many of us have not taken the time to get it done.  Perhaps now is the time to make a commitment to do it.

Click here to download an article about the 13 ways you can prepare yourself and your family for an emergency.

Click here to download a free copy of the Disaster Preparation Guide, written by Marty Kuritz, the author of The Beneficiary Book.

The true wealth manager’s first task is to understand the client’s lifestyle, his/her hopes, dreams, needs, and wants.  So rather than start with a balance sheet, start with a conversation about life.  Where have they been?   Where are they going?  What events do they need to deal with now and in the future?  What have they promised to their families?  Don’t make the mistake of knowing more about your client’s money than you know about them.

Click here for an article about wealth management and download a copy of 20 Items that every wealth manager should discuss with his/her clients.

The Wealth Manager

 The Wealth Management Blueprint (PowerPoint slide)

The Wealth Management Blueprint (Trifold Brochure)

Colloraboration

To capture 100% of your client's assets requires that you and your practice have the capability to service 100% of their assets.  Do you have all the resouces you need? Attached is a list of the people whom you need in your network and on your team to do the whole job.

The Wealth Managment Team

Are you doing everything you can to provide your clients with exemplary service?  Are you meeting expectations?  Do your clients know how to be “good” clients?  Have you trained them to be?

Click here to download a sample of the Client Advisor Agreement.  This is your opportunity to set the expectations for both you and your client.  What should they expect from you and what do you expect from them?  How often will you contact them?  How often do they want to be contacted?  Do they prefer email or regular mail?  Are they comfortable with the Internet or not?

Keeping track of new prospects, cross-selling opportunities, cases in the mill and centers of influence is easy when you use the Excel Opportunity Management Workbook.  You can use the spreadsheet to segment your book of business, keep track of revenue growth and assets under management by client.  There is a To-Do List to track team assignments to make sure that you are keeping your promises to your clients, family and prospects.  Download a free copy of the Opportunity Workbook by clicking on this link.

Periodically it is a good idea to put together a business plan. The business plan should include items such as your mission, vision and objectives for the coming year.  What do you want to get down in the next twelve months?  What plans do you have with your family?  What level of cash flow will you need to get everything done that you want to get down?

How much business will you generate from your existing clients?  How many new clients will you need to reach your production goals?

What changes in your practice do you need to make to reach your goals?  Will you need additional staff or have to replace someone in the coming months?  Do you plan to change your service model, add new products or services?  Are you leveraging all your strengths?  Where are your marketing opportunities? Click on the files below to download the documents you need to build your business plan.

SWOT Analysis

Business Plan Form

The Production Sales Funnel

Perfect Week

Activity Goals