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Copyright 2005 © Financial Planning Consultants, Inc.
This presentation is designed to:
• Explore the needs of today’s professional
Financial Advisor
• Show the strategy of Practice Builder
Financial in addressing those needs
• Explain the benefits of Client Relationship
Management (CRM) software
Introducing
Practice Builder Financial
Based on
Text Library System
There are 70 slides. Careful review
should take no more than 15 minutes.
At any time you can:
• Order by completing the Order Form
and fax to 513-424-5752
• Visit our website at
www.FinancialSoftware.com
• Call the Sales Department at
800-666-1656
• Exit by pressing the Escape key
The Premier
Client Relationship
Management Software.
Serving Financial
Professionals since
1982
Developed
by
Financial Advisors
for
Financial Advisors
Financial advisors are faced
with marketing challenges
to acquire new and
better clients...
•
•
•
•
To
To
To
To
optimize marketing results
nurture prospects
harvest referrals
capitalize on seminars
Financial advisors are faced with
marketing challenges
to strengthen existing
client relationships...
• Out of sight means out of mind
• Out of mind means out of business
• Are you treating your super clients. . .
super special?
Financial advisors are faced
with marketing challenges
to counter competition from
increasing directions...
•
•
•
•
The Internet
Company direct marketing
Product only providers
Banks
Financial advisors are faced
with challenges...
•
•
•
•
To
To
To
To
reduce operating costs
increase revenue
increase productivity
make your practice work for you
www.FinancialSoftware.com
Contact sales at 800-666-1656 x 13
Financial advisors must have a
never ending stream of clients to
replenish those...
•
•
•
•
Transferred
Retired
Disabled
Deceased
Financial advisors need
a process for...
• Managing large numbers of clients
while maintaining a personal touch
• Clear, concise communication with
clients
• Audit trails for liability protection
• Marketing tools to stay in touch with
both clients and prospects
• More time with clients instead of
administration
Strategies to meet
these challenges. . .
Practice Builder Financial offers:
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Pre-written and proven letters
Meeting agendas
Interview notes
Master Planning Checklist
Practice management tools
Automated marketing to clients,
prospects and seminar attendees
• Integration with Laser App and
PDAs
Client Letters
185 proven and
effective letters to send to
clients and their advisors
Organized storage
of all pre-written letters.
No more, “Where is the last
letter I wrote on
that subject”?
Each letter
can be easily personalized
and edited to fit your practice
Eliminate
administrative tasks so
the advisor can do what
makes money – staying
in front of the
client
Meeting Agendas
Pre-formatted
agendas help the client and the
advisor prepare for
meetings
An organized meeting
is an effective one
An established process
for meetings creates
consistency in your office
Pre-formatted agendas
help the client and the advisor
prepare for meetings
The importance of standardized letters and
pre-formatted meeting agendas cannot be
over emphasized!
Practice Builder Financial keeps an
electronic copy of every item sent to every
client.
Practice Builder Financial establishes an
audit trail for due diligence. You will be able
to document and defend your professional
conduct.
Critical time and energy making repetitive
administrative decisions are kept to a
minimum.
Pre-formatted Agendas
enable you to also use
pre-formatted Interview
Notes
You’ll find
Practice Builder Financial
Makes meetings more
professional, helps you stay
on track and enables clear
and easy
notes, too
A template
for Interview Notes is furnished
for each agenda to allow the
notes to be created easily
and mailed promptly
Sending
Interview Notes
to the client reaffirms
concerns and objectives
How can an advisor substantiate what
happened in a meeting five years ago –
Who said what? Who agreed to what?
How can the advisor prove it in a
regulatory or litigious situation?
Interview notes sent immediately to the client confirm
the concerns and wishes voiced and provide an
excellent audit trail.
The advisor is beginning to establish a process:
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
Letters for use with each client
Agendas sent to the clients in advance
– and used during the interview!
www.FinancialSoftware.com
Contact sales at 800-666-1656 x 13
Choose from 60
common client goals and
objectives - and you may
easily add your own
Always remember to
have the client sign off for
all confirmations
Again, your
professional image
and your audit trail are
enhanced with client
sign-offs
What happens when we meet with clients and
they provide us their goals and objectives?
Have you ever had a married couple who
turned out to have different goals and
objectives? Of course you have!
We live in a very busy society. When both
spouses are working it becomes easy for them
to talk only about things that are of an urgent
nature at the moment.
Send the objectives with a letter requesting
review and confirmation. Have the client
sign and return the form. The goals and
objectives will be more carefully considered
and reliable.
Investment attitudes can
change rapidly in a volatile market.
Practice Builder Financial
documents those attitudes.
Choose the
Investment Attitudes that
fit your client
and Practice Builder Financial
automatically generates
the required
documentation
When the stock market fluctuates it’s easy
for clients to make emotional decisions about
their investments.
With an Investment Attitudes
confirmation, the situation is easily
defused by referring to the original
confirmation and reaffirming the client’s
original attitudes and objectives.
Attitudes confirmation may be critical if you
are later sued by the client or by an heir.
Their signature substantiates the controlling
factors regarding their investment decisions.
Practice Builder Financial
verifies the planning
assumptions that you will
be using to make client
recommendations
As you select
items from the list,
Practice Builder Financial
automatically customizes
and prepares an
acknowledgement
for the client
to sign
Some assumptions will be made by the
advisor based on professional expertise
and experience. Other assumptions will
be provided by the client.
Naturally, no one can predict what the
future will hold – but the confirmation
of these assumptions proves that you
verified with the client the criteria used
as a basis for your recommendations.
Recommendations . . . . .
When making recommendations to the
client – how can an advisor remember
everything known about the client and
about all the planning options at the
same time?
The truth is – we can’t! That’s why we
need a master implementation checklist.
Other professionals use checklists • Would you get on an airplane if the pilot
told you a checklist was unnecessary?
• Would you like surgery performed
without the benefit of checklists?
www.FinancialSoftware.com
Contact sales at 800-666-1656 x 13
Each category of
concern is labeled with
a specific tab
Avoid errors
of omission by using the
Practice Builder Financial
checklist
Scan through a
list of over 750 one-line
client recommendations for the
protection of both
client and advisor
Document what
the client wants done,
who’s responsible and
an action date
Each recommendation
is then explained to the client–
it’s the client’s choice to implement,
but he indicates his decision
with signature
Liability protection
gives the advisor,
the firm and the client
peace of mind
The advisory process can be very
labor intensive. . .
• A systematic process will reduce the
expenditure of the advisor’s time
• Procedures allow staff to be more
productive and reduces office stress level
• Practice Builder Financial is like having
an additional team of professional staff
advisors
Each article in
Practice Builder Financial
can be edited by you or
used as provided
Articles in
Practice Builder Financial
will educate clients and prospects
Think of this section as
an encyclopedia of financial
information
A recommendation to
the client, as simple as
a Roth IRA, may need
to be explained
It’s much easier to edit
something already written
than to research and
write it yourself
from scratch
Practice Management . . .
Practice Builder Financial contains an
entire section on practice management
This section contains many checklists,
resources, marketing suggestions and
office procedures.
You can benefit from other experienced
advisors.
Practice Management
tools to make the advisor’s
office run more efficiently
Due Diligence forms
can easily help build
audit trails and protect
your practice
An advance checklist
for an annual meeting will spur
clients to action. It is a service
invitation they can’t resist
Sometimes it’s difficult
to get clients in for an annual
review – and tools
like this help
Practice Builder Financial
• The tools you need are as close as
your fax or phone…
• Complete the enclosed Order Form
and fax it to 513-424-5752
• Or call our Sales Department
at 800-666-1656
Or continue - Learn about the
powerful Marketing Module
www.FinancialSoftware.com
Practice Builder Financial
Marketing Module
Automated contact
sequences to manage your
important relationships
“Drip Marketing”
to maintain
“Top of Mind Awareness”
with clients, prospects,
referrals and seminar
attendees
YOUR MARKETING CHALLENGE . . .
“Each year the income from your current
clientele is declining, while overhead and
expense increase. At the same time, you
want your personal revenue to increase.
This is your marketing gap.
“You really only have two choices: Work
harder every day to maintain your current
standard of living, or you must put in place
a system that automatically generates new
business - continually and consistently!”
Edwin P. Morrow, ChFC, CFP®, RFC
Each year your business expenses
will continue to increase . . .
60
50
Expenses increase
continuously
Often, more dramatically
than shown here
40
30
+10%
20
10
Your Business Expenses
0
Now
3 Yrs
6 Yrs
9 yrs
And personal income must
increase just to stay even . . .
60
Income Requirement
Most of us want,
50
even expect, to do better than
to just “stay even”
+10%
40
30
Your Personal Income
+10%
20
10
Your Business Expenses
0
Now
3 Yrs
6 Yrs
9 Yrs
The revenue from your present
clientele will be declining . . .
60
It’s inevitable to lose clients
from relocation, retirement,
death, disability and
misfortune
50
40
Plus, the
30
widespread pressure to
reduce commissions and fees
will continue and may
even intensify
20
10
Income from
Current Clientele
0
Now
3 Yrs
-10%
6 Yrs
9 Yrs
The net result is that you have
a marketing challenge . . .
60
Your Marketing Challenge
50
Can you achieve this
required new revenue –
by working harder?
Or longer?
40
30
New Client Revenue
That Will Be
Required
20
10
Income from Current
Clientele
0
Now
3 Yrs
6 Yrs
9 Yrs
Practice Builder Financial
with the Marketing Module. . .
Provides process and procedures to:
• Define your clients/prospects according
to criteria you determine
• Routinely and automatically maintain
“Top of Mind Awareness” by mail, email and phone
• Determine the frequency and intervals
of your choose
Practice Builder Financial with
the Marketing Module. . .
Provides seven automated marketing
campaigns for clients and prospects pre-written and tested:
• Individual Prospect
• Business Owner and Professional
• Center of Influence/Media
• Initial Planning Client
• Ongoing Planning Client
• Product Only Client
• Referrals
Practice Builder Financial &
Client Relationship Management
• CRM applies modern technology to
strengthen the client/customer relationship
on a cost effective basis
• Understanding the definitions, interests
and needs of consumers/clients and
proactively responding
Practice Builder Financial &
Client Relationship Management
80% of your revenue
will come from 20% of your
clients – but you must
differentiate them
User defined key codes
let you classify by services,
products, needs, categories,
income and worth
Practice Builder Financial &
Client Relationship Management
Years ago, the corner merchant knew
each customer and anticipated his/her
preferences, habits and needs.
Today, the economic environment
demands that a professional advisor
deal with thousands of
clients/prospects.
Employ a CRM System
Put technology to work for you. Become
the corner merchant who has regular
contact with his customers. Know their
habits and needs.
No one can remember to make repeated
calls. No word processor will initiate the
letter or write the text.
Employ a CRM System
Client Relationship Management requires
a sophisticated and effective system.
Financial advisors must have a system
that fits their needs and can be
modified for their particular practice.
www.FinancialSoftware.com
Contact sales at 800-666-1656 x 13
A modern Client Relationship
Management Plan for a financial
advisor has several basic components
to restore the personal connection:
•
•
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Define Your Clientele
Retain Your Key Clients
Revise Staff Roles
Re-engineer Processes
Alter Business Approach
Prepare the Materials
•
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Harvest Referrals
Employ CRM Technology
Qualify Your Markets
Define all Prospects
Prune Prospect Lists
Adapt for the Internet
Seven marketing
sequences are furnished.
Each campaign has been
written and tested by other
successful financial
advisors
Letters and articles are
ready for you to start
your marketing
You may increase or
decrease the frequency of
marketing mailings
Practice Builder Financial
• The tools you need are as close as
your fax or phone…
• Complete the enclosed Order Form
and fax it to 513-424-5752
• Or call our Sales Department
at 800-666-1656
Or continue – See what Practice Builder
Financial users say…
Comments from Practice
Builder Financial Customers
...
Practice Builder Financial paid for itself in
the first 30 days. For years it has helped
me obtain and retain my planning and
investment clients.
Robert Hurley, CFP
New Jersey
Comments from Practice Builder
Financial Customers . . .
The Marketing module is our secret marketing
weapon. So we’re not going to comment, but it
WORKS – and it is gooooood!
Practice Builder Financial tools help us ensure
that we are always utilizing a consistent and well
thought out process for working with our clients.
The software provides tremendous protection for
our clients because we cover everything and
have systems in place to confirm their decisions
and actions. Further, its use provides our firm
with a very high level of accountability and thus
protection should we ever find ourselves in
arbitration.
We are very pleased with the customer support!
Clint Struthers, RFC
Midland, MI
Practice Builder Financial
• The tools you need are as close as
your fax or phone…
• Complete the enclosed Order Form
and fax it to 513-424-5752
• Or call our Sales Department
at 800-666-1656
Or continue - Learn more about the
many features of Practice Builder
Financial
Client / Prospect Home Screen
Quick and easy
data input or import - from any
comma delimited ASCII file.
Tabs to link
information for spouse,
business, family, associates,
referrals and advisors
www.FinancialSoftware.com
Contact sales at 800-666-1656 x 13
Gather as little or as
much information as
your prospect offers
Record account or
product information
on your clients for
quick and easy
access
ToDo Module
Schedule your
appointments and
task for your clients.
Laser App Integration
Sync your client data
with Laser App.
Then you can easily fill
in your most used
forms.
Easy Data Transfer…
Your
Investment
Manager
Your Practice Builder
Financial Data
Microsoft
Outlook
Your
Planning
Calculator
Palm Pilot or
other PDA
Advantages for Practice Builder
Financial Users:
•
•
•
•
Systemized procedures for your office
Liability control
Automated marketing
Client communication
Practice Builder Financial
gives you the freedom to
stay in front of your clients.
Let Practice Builder run your office
instead of your office
running you
The History of Practice
Builder Financial:
As the Financial Planning movement grew, it
became apparent that software could provide
the consistency required to deliver high quality
service at a reasonable cost.
Advisors found themselves “re-inventing the
wheel” writing, filing, locating and continuously
re-writing correspondence. The more involved
they became identifying with their clients, the
more dependent they became on systematic
reminders to perform critical tasks.
Continued……
The History of Practice
Builder Financial:
Practice Builder Financial was introduced in
1983 as Text Library System and a small
group of financial planners contributed the
initial text and designed the scope of
communications.
The goal was to enable the financial advisor
to concentrate on client relationships and
the application of sound planning
techniques.
Advisors need to share the expertise of other
practitioners - and Practice Builder Financial
became a vehicle for continued professional
contributions.
The History of Practice
Builder Financial:
Every year Practice Builder Financial is
continuously edited. New items are added,
and the existing material is revised and
enhanced.
Over 3,000 users send in suggestions for text
changes and additions. Many even offer
complete articles for review and addition.
Program changes and enhancements are
always in evolution, as the program continues
to expand to meet the needs of a profession
under continuous change.
Practice Builder Financial
Automatic Updates
In late Spring, users receive a new version,
with program enhancements, text review
and the Mid-Year Planning Memo to send
to clients.
In late Fall a new Year-End Tax Memo is
posted on the website for download. This
has been very instrumental in serving
clients, and results in many referrals in
appreciation.
Periodically, when there are major tax
changes, we provide a Special Client
Memo, and then revise the articles that
have been affected.
Practice Builder Financial
Customer Support
Phone:
800-666-1656
8:30 a.m. to 4:30 p.m. EST
Fax:
513-424-1589 (support direct)
Email:
[email protected]
Internet: www.FinancialSoftware.com
Training: Web Workshops
Hands on Training in Middletown, OH
Live Demonstrations of the
Practice Builder Financial
software are available.
Offered weekly:
Eastern Standard Time
Monday at 10:00 a.m.
Tuesday at 2:00 p.m.
Wednesday at 10:00 a.m.
Thursday at 2:00 p.m.
Register at www.FinancialSoftware.com
Practice Builder Financial
• The tools you need are as close as your fax
or phone…
• Complete the enclosed Order Form and fax
it to 513-424-5752
• Call our Sales Department at 800-666-1656
• Email [email protected]
We look forward to working with you.
Thank you for your investment of time viewing this
presentation. You may repeat it at any time.