Develop your skill set to maximise your client opportunities

1. Develop your skill set to maximise your client opportunities Mark Graves Managing Director Linear

2. Market Opportunities Death – The Hard Facts • 26 million people in the UK have life assurance • 50% don’t know how much they have • 1 in 3 families with children have no cover • Average UK sum assured - £20,000 • Equivalent to 12 months salary

3. Market Opportunities Is there enough to go around? • When asked how they wanted to purchase financial products, only 5%of the general public preferred to purchase via the internet with 95% preferring face to face advice. • In 1991, there were 250,000 advisers, there are now around 40,000 • You do the maths…

4. Market Opportunities • Each year, 600,000 people die • That’s 1,643 each day • Each year, around 700,000 people suffer a heart attack, a stroke or cancer • That’s 1,917 each day • At any one time, over 2 million people of working age will be off work for over 6 months through accident or illness

5. Market Opportunities • We tend to imagine those with money have less need for protection solutions, the reality is that this is far from the truth. • People become used to and even dependant on their standard of living and the one thing that binds us all together is that we all rely on a source of income to provide the things we need and want.

6. How to make the most of your client bank

7. Contacting existing clients • Reason for the call • Why are you contacting this client? • Why should they want to meet with you? • What’s in it for them? • Implementation • Who will you target? • When will you call them? • How will you measure success? • The purpose of the call is to make an appointment, NOT a sale over the phone

8. The meeting structure • 3 Levels of Questioning Technique • Level 1 – Data • The facts of when, where, how, etc • Level 2 - Meaning • The meaning or consequences associated with the facts. • Level 3 - Importance • The value or importance associated with the meaning or consequences

9. Listen your way to a sale • 3 Levels of Listening • Level 1 • Listen for facts, specific information, content • Level 2 • Listen for feelings, preferences, likes/dislikes, views and opinions about the facts. What meaning those facts have. • Level 3 • Listen for attitudes, beliefs, what is important and valued. • At every level, listen to how things are being said not just what is being said.

10. Listen and probe • ‘What financial problems would it create for your family if you died tomorrow?’ • Concluding questions • ‘If that was the situation how would you be feeling now?’ • ‘Given an ideal situation what would you want to happen?’

11. Ask and you shall receive

12. Referrals • What are the benefits of referrals? • Hot leads • Easy to appoint • Trust • Easy to sell to • Increased activity • Profitability • Best feedback you could receive…

13. Referrals process • A referral is a sale and to make a sale we have to follow a process. It needs a structure. For example if you just ask the client ‘Do you want to buy some life assurance ‘? The answer would probably be NO. • If you follow the process for a fact find and presentation meeting and use your skills, then that same client is likely to say YES. • Same client different approach different result!!

14. 4 Principles of Referrals Preparation • Prepare them for the question from the start of the meeting (cover at IDD) ie. my business works on a referral basis • In the introduction there must be a mention of ‘How you build your business’ at this stage you are not going to ask for referrals all you want to do is to ‘sow the seed’ • Presenting Meeting: Referrals on the agenda, written or verbal. Best practice written.

15. 4 Principles of Referrals Barter • Tell the client how hard you will be working for them and in return you’d hope they’d recommend you to a friend or colleague

16. 4 Principles of Referrals Professional • Unless you provide a 5 star service to your clients you can not expect referrals

17. 4 Principles of Referrals Profile • Let the client know what type of referral you are looking for ie. Give them examples of who could benefit • At the end of the Fact Find meeting, refer back to ‘How At the end of the Presenting meeting ask for the Referral. • ‘You build your business’ and ask for their help. Profile the type of referral you are looking for. You don’t want a name right now but Prompting them for a referral at the next meeting.

18. Protection Family protection Mortgage Protection ASU, Life, CI IPP, PMI, Wills Estate Planning WOL Gift inter vivos Trusts AIM Investment Retirement Planning Annuities Guaranteed Income Bonds USP / ASP Equity Release Long term Care • Lendings • Mortgages • Proc fees • Arrangement fees • Solicitor fees • GI Savings / Investment Bonds Oeics Offshore G’eed Accounts ISA’s, VCT’s Pensions Accumulation Regular Lump sum Switches Transfers SIPP’s Fund Supermarket Corporate Keyman Shareholder Loan Protection Corporate Lending Corporate Pensions Group Risk

19. A lifetime client provides a lifetime value Enjoying retirement Retirement Planning Equity release Estate Planning Long term care Young Couple General Insurance Regular Savings Mortgages Protection Young Family Critical Illness ASU Income Protection Child Trust Funds Will writing General Insurance Planning for the future IHT Trusts PMI Wills Established family Will writing General insurance Corporate protection Pensions