Financial Planning Down Under, Mate

November 2002
Journal of Financial Planning;Nov2002, Vol. 15 Issue 11, p27
Academic Journal
This article focuses on the need for financial planers to start developing a financial plan for a prospect at the very first interview, according to a survey of some of the leading financial planners in Australia, as of November 2002. The traditional approach is that a first interview with a prospective client is a get-acquainted session and a chance for planners to tout their services. But some of the top planners in Australia believe that to prove that one knows his or her oats, planners need to get down to business quickly and outline the technical strategies they think the prospect might employ and the asset allocation required to meet their goals--this according to a survey by MarketingReferenceCentre.com, which publishes a free online monthly newsletter for planners. Planners should also quantify the benefits of taking their advice, such as calculating the tax savings of the strategies, and elicit feedback from the prospect. The successful planners interviewed claim that this approach, rather than spending time at the first interview selling their organization and services, results in higher conversion rates.


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