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THE REAL VALUE
OF ADVICE
PWG ASSOCIATE ADVISOR PROGRAM
24 AUGUST 2017
DO YOU GET THE VALUE OF
ADVICE?
Yep, sure do!
Do you get the value of advice?
What is it then?
Ummm it’s…
INSURANCEINVESTMENTS
SUPERANNUATION
ROL
UNDERSTAND WHERE THE
PROBLEM CAME FROM
NOT JUST THE SOLUTION
WHATS THE
MONEY FOR?
Y O U R L I F E
TOOLS TO MANAGE MONEY
Personal &Social life
Physical /Health
Family Work & Career
Money & Finance
Mind / intellect
Spiritual & Community
Y O U R L I F E
HISTORYTRANSITIONS
PRINCIPLES / PHILOSOPHIESPOSSIBILITIES (GOALS)
MONEY GOES IN
MOTION WHEN LIFE IS
IN TRANSITION~ Mitch Anthony ~
“
FAMILY
ü Marriageü Separation or Divorceü Pregnancy, maternity leave, new baby or grandchildü Caring for ageing parents ü Inheritanceü Educating kidsü Sickness / Illness – short or long termü Injury or disablement ü Sudden or unexpected bereavement ü Making important medical and legal decisions ü Managing a deceased estate ü Upholding family’s wishes when they passü Affording a funeral
LIFESTYLE
ü Travel and adventures ü Holidays local and overseasü Retiring from workü Buying, selling or upgrading or downsizing your
home, an investment propertyü Taking on personal debtü Relocating or moving overseasü Buying or selling lifestyle assets such as a car, holiday
house, boat etc. ü Centrelink and government entitlements ie. heath
care cards, pharmaceutical benefits etc. ü Bankruptcy
BUSINESS OR WORK
ü Buying or selling a businessü Increasing debt and funding business assets ü Potential bankruptcy ü Redundancy or retrenchment ü Working more or cutting back ü Getting a raise, bonus or a promotionü Accessing work related entitlements ü Changing jobsü Long service leave or a sabbatical ü Returning to study
GENERAL
ü Achieving goals that are important to youü Making the most of managing money ü How to spend smartly ü Understanding financial concepts ü Accessing other advice professionals ü Teaching kids about moneyü Dealing with a tax bill, tax deductions and rebatesü Helping others benefit from sound financial adviceü Philanthropy, charity and giving
EXPLAINING
ALUEIS TOUGH
90%
EMOTIONS
MEMORY
EXPECTATIONS
NEEDS
10%
FACTSDATA
PEOPLE HAVE CLEAR FINANCIAL GOALS
MYTH:
PEOPLE DON’T KNOW WHAT THEY WANT
TRUTH:
THE RESULTS FALLACY
PHYSICAL STUFF
HOW IT MAKES THEM
FEEL
WHAT IS SOMETHING YOU WANT IN YOUR
LIFE?
(eg. new car, house, savings etc.
HOW WILL YOU
FEELWHEN YOU GET IT?
IF YOU CAN’T EXPLAIN IT
SIMPLY, YOU DON’T
UNDERSTAND IT WELL ENOUGH
“
~ Albert Einstein ~
THE ART OF EXPLANATION
9YR OLD TEST
EXPLAIN… SO PEOPLE UNDERSTAND
Advice explanations
table
DEBT MANAGEMENTRISK MANAGEMENTESTATE PLANNING
INVESTMENT PLANNINGTPD INSURANCE
BUDGETINGSUPERANNUATION
AGED CAREINCOME PROTECTIONREVERSE MORTGAGE
SMSFGEARING
IT’S LIKE…
ANALOGYCOMPARES TWO IDEAS SO
YOU CAN SEE THE RELATIONSHIP / CONNETION
BETWEEN THEM
USE THE LANGUAGE OF THE KNOWN TO EXPLAIN THE
UKNOWN
ANALOGIESFire is to hot – like ice is to cold.
You can imagine an atom as being like our solar system. The nucleus is the sun and the electrons are the planets orbiting round it.
Insurance is like a parachute, you don't always need it, but when you do, you want it to be there.
The brain is like a computer, both have memory and processing, but if they don't work together things go wrong.
METAPHORFIGURES OF SPEECH THAT
CONNECTS TWO UNLIKE THINGS TO HIGHLIGHT A POINT
THEY SOMEHTING ‘IS’ SOMETHING ELSE
METAPHORS
The classroom is a zoo
The business is a sinking ship
He’s become a shell of a man
He showered her with gifts
He was drowning in paperwork
She is a minx
1. WHAT DO YOU DO?
2. WHAT IS FINANCIAL PLANNING
3. VALUE OF AN ADVISER
4. BENEFITS OF INSURANCE
5. VALUE OF FINANCIAL ADVICE
EXPLANATION BINGO
USING BODY LANGUAGE
TO CONNECT WITH
CLIENTS
Copyright © Chris Unwin - Training & Consulting Services July 2016 Contact Number : 0417 281 034
DO’S AND DON’TS ON THE TELEPHONE
Copyright © Chris Unwin - Training & Consulting Services July 2016 Contact Number : 0417 281 034
Despite the amount of email and alternative modes of communication being used today the majority of APPOINTMENTS are still made over the telephone and therefore, this remains the first opportunity for business to be won or lost.
GOLDEN RULES• J down the phone
• Always stand up and move around
• Be yourself
• Never argue – avoid confrontation
• Expect to handle 2 or 3 objections before making the appointment
Copyright © Chris Unwin - Training & Consulting Services July 2016 Contact Number : 0417 281 034
• Make a call that you would like to receive
• Make people laugh
• Speak clearly and at a moderate pace
• Only sell an appointment
• Waterproof the appointment
• Be enthusiastic
• Be positive
• Be assumptive
Copyright © Chris Unwin - Training & Consulting Services July 2016 Contact Number : 0417 281 034
GOLDEN RULES OF THE FIRST CLIENT MEETING
Copyright © Chris Unwin - Training & Consulting Services July 2016 Contact Number : 0417 281 034
1. Look good / Feel good
2. J Smile
3. Take control
4. You never get a second chance to create a first impression
5. Be aware of body language
6. Be enthusiastic
7. Relax / be yourself
Copyright © Chris Unwin - Training & Consulting Services July 2016 Contact Number : 0417 281 034
8. Avoid confrontation
9. Make it flow
10. Don’t get technical / K.I.S.S
11. Ask questions
12. Paint pictures
13. Book the second appointment there and then
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