The First Five Minutes CREATING THE RIGHT FIRST

The First Five Minutes CREATING THE RIGHT FIRST IMPRESSION

2 For Advisor use only

Your company has just hired a new co-worker who is: very good looking, rich, intelligent, blunt and independent, How would you rate this person on the following characteristics 1. Successful OR Unsuccessful 2. Humble OR Proud 3. Confident OR Insecure 4. Dominant OR Submissive 3 For Advisor use only

What are we covering? 4 1 Positioning Your Role 2 Key Elements 3 Elevator Speech 4 Different Approaches 5 Building Rapport For Advisor use only

Positioning Your Role

Defining your unique role Your first impression will define your professional persona OLD SCHOOL THE SALES CYCLE NEW SCHOOL Both are necessary Both have value Clarify Problems & Opportunities Develop Plan Gather Data PLANNING PROCESS Engageme nt Monitor Impleme nt Your unique value proposition will be some combination of the two 6 For Advisor use only

Key Elements

First impression • Studies show you have 90 seconds or less to set the tone for a new relationship. You will be judged. Whether conscious or not, most people will ask themselves the following questions. . . – Do I like this person? – Can I trust them? – Are they credible? – Will they care about me? 8 For Advisor use only

Likeability • We like people that like us • Grooming and manners matter • Seek common ground • Smile, shake hands, make eye contact, be confident • Use the persons name • Demonstrate equal respect to everyone • Determine who the decision maker (or makers) is 9 For Advisor use only

9 x 1 = 9 9 x 2 = 21 9 x 3 = 27 9 x 4 = 36 9 x 5 = 45 9 x 6 = 54 9 x 7 = 63 9 x 8 = 72 9 x 9 = 81 9 x 10 = 90 10 For Advisor use only

Credibility Clients will want some reassurance that you… • Put their interests first and offer unbiased information and opinions • Have the necessary knowledge, skills and experience • Can access appropriate tools, processes, products and resources • Have examples that you’ve done this type of work for others like them 11 For Advisor use only

Trustworthiness You need to foster trust on three levels: You personally 1 2 3 12 • Background, credentials & references • Transparency & reliability • Clear & timely communications Your organization • Who helps you? • Who backs you up? Your industry • How safe is my money? • How am I protected from ‘bad apples’? For Advisor use only

Elevator Speech

Script or no script? OR Planned and practiced? 14 For Advisor use only Spontaneous and natural?

Planned introductions • You’re the professional, take charge • Set the stage when the interview is on your territory • Manage the stage when you meet on the client’s territory 15 For Advisor use only

Spontaneous introductions Sometimes you’ll be called upon to introduce yourself with no preparation or rehearsal • Meeting prospects in social settings • Face-to-face introductions from clients • Proactive approaches to prospects You need to be ready Your ‘Elevator Speech’ is essential 16 For Advisor use only

Elevator speech examples “Do you know how most people spend more time planning their family vacation than they do on their retirement program? Well, what I do is help people understand their goals and create a financial roadmap to help them reach their retirement destination. ” “Do you know how most people go to the doctor for an annual check-up? Well, what I do is provide a physical for your financial health. ” “Have you ever looked at the directions to put together an IKEA piece of furniture? I put together people’s “financial furniture”. I take the gibberish and complications out of people’s financial situations and put them together quickly and efficiently so they can enjoy them. ” “I help people avoid becoming Wal-Mart greeters during their retirement years. " 17 For Advisor use only

Different Approaches

A simple introduction I’d like to start our meeting today by introducing myself professionally… • Attention grabbing idea • Who am I • Who do I represent • What do I do • Who do I do it for • How can I help you 19 For Advisor use only

LIVING TOO LONG MARKET CRASH ILLNESS INJURY 20 For Advisor use only PREMATURE DEATH

A classic – the Ben Duffy approach “In preparing for today’s meeting, I put myself in your position, and I thought there may be some things you’d want to know about me; about my company; what’s in it for you, and what’s in it for me. As such, I’ve prepared a list of ten questions. Are some of these on your mind? ” 21 For Advisor use only

The compliance approach • “Regulators and advisors have agreed, that before we do business, there are six things that we each need to know about the other. ” WHAT YOU NEED TO KNOW WHAT I NEED TO KNOW 1 I’m legal 1 Family information 2 I’m experienced 2 Employment information 3 I have professional credentials 3 Financial information 4 Who I represent 4 Your goals 5 How I get paid 5 Your risks & concerns 6 Do I have any conflicts of interest 6 Your investment profile Be prepared to provide specific points regarding your own business model 22 For Advisor use only

Transition to fact-finding Regardless of your preferred method of introduction, here are three points you should always cover next • When’s the last time you spoke to a financial advisor? • Let me share our agenda for today…. • In addition to the agenda, what else would you like to discuss? 23 For Advisor use only

Building Rapport

COST Complimentary strategies INVESTMENT RAISE THE BAR Invite them to a meal Use a personal website Invite them to “events” Audio/Video business card Electronic communications Office is an “experience” Involve your staff Electronic newsletter EFFORTLESS PERSONALIZED Use their name Research backgrounds Create a compelling business identity Ben Duffy Approach Memorize your introduction Disclosure Strategy Take the initiative Network on their behalf COMPLEXITY 25 For Advisor use only

The 12 fastest ways to build rapport 1 Be on time 7 Repeat their names 2 Dress appropriately 8 Be friendly 3 Smile 9 Demonstrate an interest 4 Make eye contact 10 Listen with interest 5 Your handshake 11 Sincere compliments 6 Make your welcome stand out 12 Model them Todd Smith – www. littlethingsmatter. com 26 For Advisor use only

The power of likeability 1 Be Honest 6 Avoid Hostility 2 Be Humble 7 Be Polite 3 Learn Empathy 8 Intelligent Behaviour 4 Laugh Often 9 Attractive Appearance 5 Be Positive William Cottringer, Ph. D 27 For Advisor use only 10 Listen More

Your credibility strategy 1 People give credibility to people they like 2 People believe what they read 3 People believe those who can PROVE their expertise 4 Credibility is given to those who can empathize 5 Credibility is a highly personal exchange Michael Lovas – www. freeerisa. com 28 For Advisor use only

What can you take away from what you learned? IMMEDIATE Develop and practice your own Elevator Speech NEXT LEVEL Choose and practice a more organized and professional initial approach SIGNIFICANT Design and introduce an initial engagement process that strongly speaks to your ideal client Use today or tomorrow Take it up a notch Change the way you work 29 For Advisor use only

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