Fact Finding Financial

1. Fact Finding Financial 301: Individual Fact Finder

2. What You Will Learn • How to conduct an individual fact find • How to start doing fact finds • How to position and next steps

3. Warm Up • “Mr./Ms. Client, we are here today to have a discussion about X…” • “Before we do that it is important that I understand your current position” • “In the next meeting, I will be able to make suitable recommendations based on your situation”

4. Individual FF/Pertinent Info GENERAL INFORMATION • Name: _____________________ DOB_______ • Spouse Name: _______________________ Spouse DOB___________ • Address: ________________________________ • City: _________________________State:__________ Zip: _____________ • Telephone: Home ___________ Cell 1______________Cell 2_________________ • E-Mail/Website: ______________________________________ • E-Mail/Website (Spouse):_______________________________ • Employer:_______________________________ • Employer (Spouse):____________________________________ • Occupation:______________________________ • Occupation (Spouse):___________________________________ • Annual Income:__________________________ • Annual Income (Spouse):_______________________________ • Net Worth: ______________________________ • Are you a Military Veteran? _____Yes _____No

5. Individual FF/Family Estate Plan CHILDREN Name:___________________ Date of Birth: _____________ Name:___________________ Date of Birth: _____________ Name:___________________ Date of Birth: _____________ Name:___________________ Date of Birth: _____________ • Do you have a Will?_____________________ • Do you have a Trust?____________________

6. Individual FF/ Insurance

7. Individual FF/Savings

8. Individual FF/Hard Assets • House value__________ • Hard assets __________ • Land _______________ • Business_____________ • Misc.________________

9. Individual FF/ Debt • Credit cards_________ %____ • Mortgage_________ %____ • Home equity loan_________ %____ • Student loans___________ %____ • Unsecure debt__________ %____

10. Individual FF/ Savings Habits • College education - annual savings: ________ • Retirement - annual savings: _______ Match? %_____ • Savings goal - Do you have? ________ • Liquid side fund - Are you funding? _________ • Risk Tolerance Investment Objectives ____ Preservation of capital ____ Income ____ Growth & Income ____ Growth Products The Client is Willing to (Check One): ____ Accept a lower rate of return to preserve principal ____ Accept moderate risk of principal to improve investment return ____ Accept highest incidence of risk to achieve higher return ____ No interest in investment – aggressive growth

11. Individual FF/ Fixed Income • Social Security ________ • Pension _________ • Annuity ________

12. Individual FF/Open Ended Questions • What are your most important financial goals? • What would you like to improve upon in your financial life? • What worries you about your current plan? • How much of your retirement savings can you afford to lose? • Where do you think we can help you? • If we can help you with these subjects, is there any reason why we couldn’t work together?

13. How to Start Fact Finding • Schedule an appointment • Practice makes perfect • Don’t worry if you don’t know what to do with information

14. How to Position Next Step • Once fact finder is complete it is important to set up next step • Commonly there will be info that your client doesn’t have at initial meeting - give homework assignment • Schedule next appointment

15. Recap • Understanding the flow of a fact finder • How to get started • How to position next step in the sales process

16. Retention Questions 1. Fact finding only needs to be done when the client has lots of money. • True • False

17. Answer 1. Fact finding needs to be done when the client has lots of money. • False

18. Retention Question 2. What isn’t a main category of a fact find? • Savings • Debt • Insurance • Political View

19. Answer 2. What isn’t a main category of a fact find? • Political View

20. Closing • Fact finding is part of sales process • Interviewing and collecting client’s data • How to get started • How to position next step • Take course 401 Case Study to learn how to analyze a fact find