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How to Position Your Advisor Practice for the Ultimate First Meeting


What is the real reason why ideal prospects do not bring all of their key financial documents to a meeting with you? Because you have not positioned it properly in their minds. Positioning according to Wikipedia “refers to the place that a brand occupies in the minds of the customers and how it is distinguished from the products of the competitor”.

Most financial advisors I ask how they position to prospects to bring all of their documents with them at the meeting, that the advisor has set up, is wrong. It is usually positioned to the advisor’s benefit. The advisor positions it by saying something like “bring in all of your financial documents so we can see where you are at and it will help me understand how we can help you”. Guess what. It is not about you!

How do you position your offer, so they bring all of their financial documents?

It’s all about them, so what are the benefits to them of bringing in all of their documents. First, you should have a checklist of what ideal prospects actually need to bring to the meeting and get a copy to them. Depending on your practice, this should be a list of items to help them get organized in all six areas of their personal financial life including:

  • Tax
  • Investments
  • Estate
  • Insurance
  • Risk management
  • Debts / cash flow

This is for personal planning, and corporate planning would be a separate list. The benefit to them is helping them get organized. How many people have their financial documents organized in all six areas? Do you? Stuff is everywhere, so the first key benefit to them you must position is to help them get organized. Ask them,” Would it be valuable if we helped you get completely organized in all six areas of your financial life?” It is a benefit to them, and you. The ideal prospects who bring all of their documents, what does that tell you? They are serious. Conversely, the ideal prospects who don’t bring all of their information, what does that tell you? You can show ideal prospects financial summaries you do for your best clients and how you keep them organized, either securely online or in a binder with six tabs. Summarizing all of their financial data and simplifying it for them, as another benefit to them.

What other benefits do ideal prospects get?

If an ideal prospect brings in their documents, I can offer a fee audit. Ask them this question” Would it be helpful for you to understand the total cost of investing and advice, what you get and don’t get for the cost? We can offer you a fee audit. See my previous articles on fee audits.

If you do insurance, you can also offer an insurance audit or beneficiary audit. Would it be valuable to make sure all beneficiaries are correct, on investments, insurance and aligns with your will, summarized on one page? Consider offering your beneficiary audit service. You cannot offer these services without all of their documents. Another benefit to them if they bring all of their documents.

How about their investment portfolio. Ask this question to position another benefit why you need all of the documents. “Would it be valuable to stress test your portfolio, and see the probability of reaching all of your goals, with your current planning?” Then ask for a copy of their current plans, so you can stress test them. Now the ideal prospect is starting to see value and benefits to them of bringing all of their documents, because their plan if it exists in the first place, has probably never been stress tested before. This document is usually missing from the list of documents, simply because they either don’t have a comprehensive plan to start with or have nothing in writing.

More and more benefit to them

In my workshops with advisors, we brainstorm lists of benefits on why ideal prospects should bring all of their documents, and advisors love it because it creates a list of benefits to people, and weeds out ideal prospects from non-ideal prospects. It saves advisors hours of time in prospecting. Now they can position their meetings better and be more productive in acquiring ideal clients this year!

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