When we talk about financial planning and insurance sales presentations to clients we are typically talking about the formal required presentation piece called the Statement of Advice (the proposal, the recommendation, the strategy paper - people use different terminology around the world).
Unfortunately the Statement of Advice is a device that protects the adviser AND the consumer. In simple terms it should contain a description of why the client came to see the adviser, what the adviser did to research the clients needs, what the adviser recommends to meet those needs and finally how it relates to the reason the client came to see them in the first place.
It's a process document. And importantly it needs to be tailored not only to the licence requirements and pre-requistes that the adviser needs to follow in accordance with the type of advice given, it needs to be in a format that a reasonable person could understand.
IT IS NOT A SALES PRESENTATION DOCUMENT.
So after all the client engagement and reciprocity of information on values and beliefs, it's incredulous that we try and "close" the sale with the finest recommendations that can make a positive difference in a clients life with a document that does not speak the clients language and is presented in a style that is highly likely not to be the preferred mode of communication for the client.
Is it any wonder they take their lengthy document with them, a little disappointed in their demeanor and say "we need to think about it".
So what to do?
This is a pitch! So treat it like one. Actually do a presentation in line with the preferred communication style of the client - make it visual, give them visuals and collateral to handle during the presentation. Make them part of the presentation - give them a script that is part of the presentation and involve them!
In your SOA use flow charts and print them out separately and give them to the client. Laminate them - they will be posted on the clients fridge as the map of the choices they have affirmed with your help. They will be on the back door of the pantry in case of emergency. Put your logo and contacts numbers on them so that you will be the first person called when they need your help the most.
Put these in your SOA. Remember do this in addition to the SOA in a cover letter, in a visual slide show and in words. Three ways of communicating the same message. Punctuate your Statement of Advice with bold double font quotes from the client lifestyle questionnaire as the "sub-headings" for each relevant recommendation. Triple the font!! Make the SOA speak their language so they can see the connection between the strategy and their dreams.
And the killer slide, or page in the SOA or additional laminated page......."if you remember nothing else from our presentation remember this......our recommendation is designed to maximise the possibility of you living well and looking after your family and the people you love...including yourself"
We are assuming that your have had the discussion with them about what living well means to them and who it is that they love.
If you have then expect them to say yes, to put in place a relationship with you that will positively transform their lives, the lives of the people that they hold dear .....and your life as well.
Till next time.
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