LIVE IN L.A. Your all access pass to complete Wealth Management The 7½ Disciplines of the Wealth Advisor How real advisors are using real tools to have real success Rick Claydon

Agenda Understanding the 7½ Disciplines How the Disciplines are being applied by your peers A more focused way of implementing

“The experience around the experience”

Objectives of AT360 Mastering the discovery process Delivering more effective communication Leveraging the skills and expertise of the wealth planning group and outside professionals Managing the client relationship more effectively Using workflow to increase productivity Techniques and strategies for attracting high net worth clients

Some of AT360 Core Beliefs The experience around the experience Take a wealth advisory approach Focus on the right brain Communicate your value

The 7½ Disciplines of the Wealth Advisor

Discipline - defined discipline dis·ci·pline [dis-uh-plin] Show IPA noun, verb, dis·ci·plined, dis·ci·plin·ing. noun activity, exercise, or a regimen that develops or improves a skill; training: A weekly stint calling or ing prospective clients is an excellent discipline to help grow a wealth advisor’s business.

“Principles are nice – disciplines are better”

The 7 ½ disciplines of the wealth advisor Focus on what counts Build partnerships Stay active Be systematic Keep learning Be disciplined Communicate with clarity © 2013 afs advisory services. All rights reserved.

Focus on what counts Vision Decide what you want Say “No” often

Is your message getting through? An organized communication plan Simple, clear and concise Communicate value on a regular basis Communicate with clarity

Get leverage More help=more success Complimentary skills and talents Build partnerships

Discipline and routines – to grow business Activity, activity, activity Consistent follow-up Stay active

Ensures that vision is implemented Ensures consistency Increases efficiency Reduces errors Be systematic

“The only constant is change” Adapt to a changing profession Continual education and personal growth Make mistakes Keep learning

“You have two choices; the pain of discipline or the pain of disappointment” – Jim Rohn A mind set and a philosophy Be disciplined

So what about the ½ ?

Collaboration Not trying to do it all on your own Having someone to keep you accountable The ½

The 7 ½ disciplines of the wealth advisor Focus on what counts Build partnerships Stay active Be systematic Keep learning Be disciplined Communicate with clarity © 2013 afs advisory services. All rights reserved.

Research Methodology Interviewed 22 advisors – 5 questions Tell me about one of the tools or processes that you are using that you found to be most helpful? How specifically are you using it ? How have you adapted it to your business? What do you like the most about this tool or process? Anything else you want to share?

Stories and strategies from your peers What was their objective? The specifics and details. (what, why, when, who, where and how.) Identify the main discipline(s) being applied

Strategy #1 Objective –Help smaller clients with their Estate Plan

The Process 1.Send discovery questions in advance 2.Book a web call to educate 3.Send educational information 4.Meet to complete the Estate Planning Questionnaire 5.Review completed Estate Plan at next meeting

Disciplines? Build Partnerships Communicate with clarity

Strategy #2 Objective –Ensure clients understand the value being delivered

1.Create a wealth map for top 10 clients 2.Discuss or update wealth map at each meeting. 3.If changes made send copy after meeting The Process

Disciplines? Communicate with clarity

Strategy #3 Objective – Get better at discovery

1.Ask 2 open ended questions at client meetings 2.Use same 7 questions with prospects 3.Question before answer mindset The Process

Disciplines? Communicate with clarity

Strategy #4 Objective – A more consistent client experience

1.Define and document orientation process for all new clients 2.Send pre-meeting to client (As and Bs) 3.Always use an Agenda 4.Send meeting follow-up The Process

Disciplines? Be systematic Be disciplined

Strategy #5 Objective – Standardize the first meeting experience for a new prospect

1.Create a first meeting template (6-8 slides) 2.Use same Agenda 3.Ask questions first – then present 4.Send meeting follow-up The Process

Disciplines? Communicate with clarity Be Systematic

Strategy #6 Objective – Leverage time for greater success

1.Prepare First Meeting Presentation 2.Meet client and present managed solution 3.If necessary send proposal 4.Meet to do paperwork The Process

Disciplines? Build Partnerships Communicate with Clarity

Strategy #7 Objective – Create a more organized and structured approach for implementing new ideas

1.Meet Mondays at 3:00 with assistant (1 hr) 2.Assistant works on tasks 3.Fridays at 1:00 block 2 hours 4.Regular reminder about the disciplines The Process

Disciplines? Build partnerships (with assistant) Focus on what counts Be disciplined

Most commonly used tools Wealth Map Financial Dashboard Meeting Agendas Meeting Summaries Step-by-step processes

The Challenge All the tools are available BUT: “My day is packed and I am not organized enough to pull the correct tools” The AT360 tools are good BUT: “I don’t know where to start” There is a lot of noise coming at me from a number of different sources BUT: “What I really need is collaborative wisdom”

Create your Roadmap “People often ask for a map, but maps are no good if you haven’t decided to go somewhere new.” - Seth Godin

Steps to successful implementation – what is working for your peers? What’s your why? Have you set specific goals? Blocked off time in calendar? (weekly) Have you partnered with someone? Have you communicated with and involved your team?

Why now? More competition Landscape is changing Survival of the fittest

Your 20 mile march

“ The secret of getting ahead, is getting started.” Agatha Christie – best selling novelist of all time

Questions

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