Module 2 Q&A Library Copy


      1. Using our assets: Do you have the verbiage in this program (in the external process documents for example) copyrighted that we integrate into our practices? Basically, do we need to materially change the verbiage so it’s not plagiarized when we use it for our own?
      2. What is your approach language to new clients and prospects on why financial planning?
      3. Do you ever use or introduce technology/ planning tools or keep it to ideas and the planning proposal?
      4. How do you educate on existing products that need to be changed/ replaced without taking away from the value of planning?
      5. Can you give an example or talk through delivering the cost/price to the prospective client? I delivered the price after going through the proposal and didn’t feel confident in the delivery.
      6. What are examples and prices of onboarding gifts you provide to clients at the various tiers? Are your tiers based on AUM or planning fees (assuming fees are based on complexity).
      7. What % of clients pay a financial planning fee 4+ years in a row.  Also – what’s your typical retention rate from year one to year two?
      8. Is showing a prospect a service calendar with a complexity guide sufficient?For example a calendar that shows what we are doing on an on-going monthly/quarterly basis for our planning clients, further justifying our fee over and above implementing initial strategies.Do you know if B/Ds approve a complexity based charging document created by the advisor?
      9. What if a prospect has a lot of planning needs but they are retired and cash flow is limited? Do you engage in a contract with $0 fee so you’re covered by E&O Ins. but then require managing the assets so you can be paid something for your time and advice?
      10. How do you approach current clients to offer the financial planning? How do you draw the line in the sand for what you are willing to offer current clients versus asking them to pay a financial planning fee for the service.
      11. What ideas do you find yourself typically discussing in initial whiteboard strategy sessions – HDHP + HSA, QBI, LLC S-Corp, Umbrella Policy?
      12. What is the difference between financial planning and consulting?
      13. What if you have someone who wants financial planning but not investment management?
      14. What is the difference between onboarding an investment-only client and a financial planning client?
      15. What was the best estate planning resource that Sten has found?
      16. What drip marketing do you do for those prospects you meet with that then ghost you?
      17. Do you put clients into a different service model with a lower fee?
      18. How does Legacy tier clients?
      19. Are there any other considerations for client tiers if they’re planning clients? What’s healthy and unhealthy about using client tiers?
      20. What are Legacy’s soft touches for client tiers?
      21. What’s the most effective way to learn more about business strategies and how do you organize what you’ve learned so you can recall it later?
      22. What technology do you use for the internal process steps?
      23. What are strategies you share when a prospect is selling their company or trying to transition it internally?
      24. Who is your RIA or investment platform and why do you choose them? What considerations should we weigh when choosing ours?
      25. In the external process, do you find that you bounce between “Plan Development” and “Plan Delivery and Deployment” usually twice before the client is happy with the plan and you can move on to “Ongoing Strategy Sessions”? This is not due to disorganization, just the client seeing the plan and having a clarifying moment to make changes.
      26. In reference to the External Process Overview, are each item separate meetings? It looks like the Discovery, Whiteboard, and Proposal are all separate prospecting meetings? Is that correct?
      27. Can you explain more about using keywords for your internal and external process?
      28. How do you present whiteboard virtually?
      29. Does Sten always charge a separate planning fee?






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