Roccy’s 9-Step Sales Process (with download)

To download the 5-page document I use with clients that outlines my 9-step process so you can co-opt parts or all of it as your own, click on the following link (there are two downloads, the Word version you can edit as your own and a fillable PDF)

https://advisorshare.com/9-step-sales-process

Sometimes I’m a little slow to have the light bulb go on, but recently I came to the realization that MOST advisors do NOT have a sales process. And by not having a systematic process to use when working with clients, many advisors struggle to “close the deal” (which isn’t good for the advisor who wants to generate revenue or for clients who really do need the help).

What is a “sales process?”

It depends on who you ask, but to me it’s a formal/systematic way of working with clients from the first meeting until the end of the process where the recommendations made by the advisor and accepted by the client are implemented.

Have I always had a sales process? Generally speaking, I have, but I’ve never memorialized it in a document. It’s just something I’ve inherently done with clients over the years.

Setting expectations—a good sales process will set the expectation for clients so they know what the process will look like and can feel confident that if the process is followed, a completed plan will be delivered and implemented.

Identifying the issues that need to be addressed—it’s vitally important to identify the issues that clients want help with. This could be one secular issue or several issues that would lead to the implementation of a “comprehensive” plan.

Taking responsibility—a good sales process will place responsibilities on clients. Clients need to agree to take part in the process which will usually come in the form of providing documents (wills, trusts, durables, life insurance, annuities, and brokerage account statements, etc.) and providing information (goals, needs, desires). This is the buy-in from the client that advisors need for the process to work.

If a client isn’t willing to take responsibility for helping you provide solutions to them, I would suggest that you tell the client, thanks but no thanks, and to call you when they are ready to take part in the process (again, you need them to buy into the process).

You need a deliverable—the advisor is responsible for coming up with a plan and providing a deliverable. The deliverable could be as simple as spreadsheeting term life quotes or a comprehensive written plan that is 3-, 5-, 10-, 15-pages long.

Comprehensive planning—for those who are not currently but want to offer truly comprehensive planning to clients (estate, asset protection, tax, financial planning, etc.), the key is bringing together a team of “experts” who can help. You can then be the team leader by bringing those experts together and providing the solutions your clients need.

Where can you find a team of “experts”? Well…, it sure isn’t the IMO you work with. It’s oxymoronic to think that an IMO is going to help you provide the best unbiased advice to your clients on a wide variety of topics. IMOs, as a general statement, are like a hammer and everything looks like a nail.

My forte is supposed to be “advanced” planning for the wealthy and my team is made up of some of, if not, the best experts in their fields. Many times I provide advanced planning advice to clients of advisors I work with through the C.A.L.M. Plan.

Using the C.A.L.M. Plan to Go After Affluent Clients!

To watch a RECORDED webinar on the C.A.L.M. Plan, click on the following link:

https://advisorshare.com/calm-webinar

What is the C.A.L.M. Plan? It’s my deliverable when putting together a “comprehensive” plan for clients. It’s me writing a 7-, 10-, 15-page memo where:

1) I cover all the problems a client has;

2) I outline all the potential solutions to those problems; and

3) I list in bullet point form my recommendations, in order, that need to be implemented.

The C.A.L.M. Plan is an “action” memo. You sit down with clients and ask them which one of the items they want to start with. Doing nothing is NOT an option.

How can you use the C.A.L.M. Plan to go after and onboard affluent clients?

I only do these memos for advisors who are working with our “advisor-owned” IMO www.advisorshare.com. If you are not getting real value from the IMO you are working with (which most advisors are NOT), you should check it out.

To download a copy of my C.A.L.M. brochure (one that advisors can place their name and contact info on), click on the following link:

https://advisorshare.com/the-calm-plan