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Your Market List

  • Your Market List, which is a catalog of your human connections, is your most important asset.
  • We will not "steal" your market list. If you leave our business we will NOT call your contacts.
  • You get a lot of learning in a "friendly" environment.
  • We will increase your market via referrals.
  • Develop your client base. All securities and life cases will be transferred back to you when you get licensed. You get all future products and increases!
  • You will earn income from all Living Trust cases.
  • Build your Team and pre-qualify for your next promotion(s).


Overview of the Process

  • Use your Business Tracker. You have to make a copy of the template first.
  • First we will identify 10-25 potential contacts from your circle of friends, family and acquaintances.
  • We’ll qualify them - for example, those who know you best, want to help you build a business, want to help you succeed etc.
  • We’ll visit them as a team. I’ll provide the financial and technical information. You’ll talk about why you love this business.


Creating the Market List

  • Go to the "Prospecting Tracker" sheet of your ATK.
  • Fill in everyone you know. Everyone. Don’t prejudge, don’t pre-evaluate, don’t think too much. Just do it.
  • Categorize them by three criteria:
  • Criteria 1: Personality
    • A = Those who tend to have an agreeable, cordial, and open-minded personality. Often these are people you know that you feel comfortable enough to walk into their homes without knocking on the door. These are people with whom you have strong credibility and influence.
    • B = Normal / average personality.
    • D = Difficult or argumentative personality. They tend to question everything, are somewhat negative and often "play devils advocate".
  • Criteria 2: M.A.C.H.O
    • Rank every person on the list according to the MACHO acronym. We want to visit those who have 4 or 5 of the below "points". These tend to be the best candidates for our services and our business.
    • Married
    • Age: 25 – 65
    • Children
    • Homeowner
    • Occupation, has full-time job
  • Criteria 3: Locale
    • We want to visit local people, before approaching those who live far away. Eventually we will contact them as well.
    • 1: Local people within about 25 miles from your area.
    • Other: Enter the area that the person lives in.
  • Sorting by Criteria. The ideal candidates for a Client Interview are those who are:
  • Local
  • Have an agreeable personality
  • Have ⅘ "points"
  • Use the spreadsheet to sort them for you. Either sort them in the recommended order, or change it to your liking! Remember, the column sorted last is the most important.
  • All those who do NOT have the above criteria, either invite them to a Business Briefing (if they're local), or we will contact them "remotely" later.


10 Tips To Successful Field Training

  1. Build personal relationships with your new recruit and their partner. People don’t care how much you know until they know how much you care. Stay in daily communication with your new recruit. Use personal phone calls and handwritten notes not just email messages.
  2. Define clear, immediate expectations for your new recruit. Example: 3 appointments their first week. 3 new guests to the meeting. Don’t ever assume your new recruit knows what to do. Recruits need constant reminding of their objectives.
  3. Expect your new recruit to become successful but understand that most of them won't. Have a winning expectation for everyone you recruit. Don’t let your attitude suffer when recruits let you down.
  4. Get your new recruit out in the field fast. Most recruits have a need to see immediate results. So the quicker they have some success the more they will want to do.
  5. Teach your new recruit what to say and do on the appointment. They must give you a proper introduction, take notes or write down 5 to 10 questions to ask you after the appointment, help to solidify the appointment with their personal testimony. Debrief the new recruit and answer questions after the appointment or on your way to the next.
  6. Create friendly competition between other recruits. People are motivated by two things: Their dreams and other people. People like to win but nobody likes to lose or get left behind. Use the power of competition to move your recruits into action.
  7. Recruit and field train in bunches. Always be working with more than one recruit at a time. Most recruits won’t respect your time if you have unlimited amounts to give away freely. When recruits see you are always busy working with or without them, they use the time with you productively.
  8. Be consistent in your field training. Field training is about duplicating. Recruits learn by repetition. They must see the same thing done the same way multiple times to learn to duplicate the process. You do it they match I, they do it you watch it, they do it.
  9. Don’t over-train during the field training. Always keep it simple at first - Although new recruits want to know everything right now, they can’t. It takes time and experience. Stick to the fundamentals: People skills, Presentation, Commitments, Closing. All the rest will come with time.
  10. Stay in the field. Personally field train new recruits until you are earning $20,000 a month overrides. Always play scared. Momentum can change quickly. Never think you “have it going”. Field trainers control the duplication process. By staying in the field you can always fix a challenge from the inside out.


Trainee Calling Their Warm Market


Watch Calling the Trainee's Market List VIDEO


Field Trainer Notes

  • Let the new associate make the warm market calls.
  • Teach people how to set up appointments so they will know how to do it themselves.
  • Learn how to say, “Let’s give them a call right now.”
  • Your trainee should have a brief list of the ways that he was helped by you (the Field Trainer). Present these improvements as benefits. Such as:
  • Our retirement plan is set to provide us with $5,000 per month of guaranteed income for the rest of our life.
  • Out children's college is finally set-up.
  • We finally got our life insurance and living trust set-up.
  • Afterwards, compliment him on making the appointment.
  • Immediately, call the next person on the list. Go for at least three.


Script 1

Julie and I recently meet with a Financial Advisor, John Galt. He created a written strategy for us, and it showed us how to manage our debt, and build a nest egg for retirement.

[Insert any areas that helped you. Such as Living Trusts, college plans etc]

In fact, we are so excited about it that we decided to work with him on a part-time basis helping other people do the same thing. I’m calling to ask for your help. I'm currently in the training program and I would like to introduce you to Michael and do a training presentation together with you and (spouse). Don't worry, there's no cost and no obligation.

You may also try a variation of the [Coffee Script]


Script 2

I was actually calling for a reason. I need your help. As you (may) know I have been working for Paychex the last couple of years. Through some local networking I came across a gentleman that has helped Cindy and I tremendously with our personal finances. I was so impressed with the company and the business opportunity that I have decided to leave Paychex and start my own financial services business. I have partnered-up with a investment professional who has been in the business for over 15 years and has the systems, training, resources and tools I will need to get up to speed. He is essentially mentoring me until I get completely independent.

Part of my training involves learning how to share our ideas with people like yourself. So what I would like to do is bring my trainer over to your house. It takes about 30 minutes, maybe an hour if you have lots of questions. You don?t have to buy anything so there is no pressure and it would really help me out.

I have to meet with both you and _____. Is next Monday or Tuesday better for you? Earlier or later ? I have 4, 6 or 8

What are you selling? It?s actually a full financial services business. Investments, mortgages, insurance, estate planning tools, but the great thing about the business is the unique approach we take to these products. I?m really just trying to share our ideas. Even if you?re not interested it would really help me out.

I?m too busy I know how you feel. Cindy and I are in the same boat, but I can?t tell you how thankful I am to have meet Michael and to learn about these ideas. I promise it wont be a waste of your time and it would really help me out. Is Tuesday better?


Script 3

KB6.16 Developing advisors – Calling the Trainees Market list

This is geared for the trainee and the trainer for making appointments. KB 6.16 Developing Advisors

Strongly recommend trainers have the trainee make the calls. They have the connection with the market, not you.

Teach the associate how to set up the appointment well so they can do it themselves. Learn how to say, “Let’s give them a call right now,” for an appointment as long as the trainee is ready. That’s key. You never want to push someone if they’re not comfortable yet. At least not comfortable in terms of helping their family

Once they are they are convinced our products are good and we’re doing the right thing for families they should immediately get into the field. That may come after the first interview or it may come in three months. Once that point is reached now it’s okay to push them out of their comfort zone just don’t push them out of their moral zone.

The trainee should give a brief list of the ways he or she was helped by, presumably, you or some other financial advisor in IP and present these improvements as benefits such as:

  1. Our retirement plan is set up to provide us with $5000 per month of guaranteed income for the rest of our life

  2. Our children’s college accounts are finally set up

  3. We have our life insurance and living trust set up

A couple of key points they are going to use during the appointment.

Things change if you bring someone from another firm or maybe they’re already totally set up. Occasionally you meet a client who is totally set up with their finances then you have to make a variation of that but for most people, new greenies you are bringing in presumably they are going to become a client first in some way and then you use that as kind of the catalyst to spark an interest in the prospects.

Afterward make sure you always complement them regardless how terrible it was, make sure you compliment them at the minimum for making the effort. Then I would immediately call the next person. The best time to ever make a call is after you just made one because it gets easier and easier. I would say go for at least a total of three, you don’t have to call twenty people maybe just three or four and get those appointments set up.

So here is essentially the script now I’m going to be saying the script or let me just read the script first:

Julie and I recently meet with a Financial Advisor, John Galt. He created a written strategy for us, and it showed us how to manage our debt, and build a nest egg for retirement.

And also build college plans for our kids, stuff we’d never done before

In fact, we are so excited about it that we decided to work with him on a part-time basis helping other people do the same thing. I’m calling to ask for your help. I'm currently in the training program and I would like to introduce you to John and do a training presentation together with you and Julie. Don't worry, there's no cost and no obligation.

Let me jump back, so if I’m talking to you so I’m Michael and you all are my friends and let’s assume that Jonathan Miller was my field trainer and up line. Of course make sure the story is true, in other words if the person didn’t become a client first then you have to make a variation. So let’s do it this way. Let’s just say that I was hired by Jonathan first and then I became a client and now I’m setting appointments up. So I’m talking to you, I’d say:

Hey George, I’m calling to ask you a favor. Julie and I recently sat down with a guy named Jonathan Miller, he’s a financial advisor and the reason is because I had always wanted to be in financial services and I found a company that kind of has everything I’m looking for. It allows me to work part-time, as you know I am still working over at Google, but I still wanted to do this part-time. The interesting thing was you know I’m not stupid, I’m at least half way intelligent & so is Julie, but what happened George is that when Jonathan sat down with me and went through their approach to finances, quite frankly it kind of blew me away. It was very comprehensive and yet very simple and one of the neat things he did was build us this retirement plan that if I stay on track with it we’re going to have $5,000 of guaranteed income for the rest of our lives starting at around 65. We got our life insurance cleaned up, we got more coverage and we’re spending less money on it. We got something called a living trust which we in of knew we should but we didn’t really understand it and we actually set up some college funds as well which literally grow tax free, I really learned a lot about finances which is exactly what I wanted to do.

I’m calling because I am asking for your help.

I’d like to set up an appointment, a training appointment with you and Melinda so myself would be there along with Jonathan. It is really a training appointment, I want him to go through and show you what he showed me and I think you’ll be really impressed. I want you to be relaxed, you can’t buy anything, at least right now. There is never any business on the first visit. There is no obligation and it would help me out regardless of what your reaction to it is, though I suspect that you might like it as much as I did. No worries, no hard feelings if you don’t end up getting involved with this company. So it would probably take 45 minutes to an hour or however long you want it to take so what do you say?

So that’s what I would do, something in that direction, something like that script right there. I think you want to make sure they don’t run the risk of over explaining but I do think it’s important that they explain kind of how they were helped. In this case I know I changed it up slightly. I presented the script as though I had joined first since I was always interested in it so you can make that variation. Use your common sense.

Now an additional idea you may want to take a look at is the coffee script. So you could do a variation on the coffee script which is version one here. So if you read this coffee script or the trainee reads it first and masters it but obviously he changes the tense. So the coffee script is, let me just read it and then I’ll give you a variation:

As nearly as you can tell, when you think of your retirement, does it seem more probable that you will out-live your money or your money will out-live you? If you don't know here's what I offer...

A cup of coffee, and a second opinion.

If you're open to it, I'd welcome the opportunity to visit with you for a while. I'll ask you to outline your financial goals – what your investment portfolio is intended to do for you. Then I'll review the portfolio for, and with you. If I think your investments and strategies continue to be well-suited to your retirement, I'll gladly tell you so, and be on my way.

If, on the other hand, I think some of your investments or strategies no longer fit with your goals, I'll explain why, in plain English. And, if you like, I'll recommend some alternatives.

Understand that there is no obligation to you, and regardless of the outcome, the coffee is on me.

That’s how the script goes, let’s change it up for a second and same story. I’m the trainee, I’m calling you. So what I would do is I would still use this question, I’d say it something like this:

Listen I’m calling because I’m going to ask you for a favor in just a minute. You probably don’t know but I’ve always been interested in getting into financial services I found a company that has the same philosophy as I do and even though I’ve got a great job at Google I’ve always wanted to do this and they allow me to do it part time so that’s why I decided to join. Well during my training program one of the things I want to do is get some training appointments under my belt. Here’s what really struck me, my trainer Jonathan Miller asked Lisa and I a very important question. He asked us, “Hey, do you know if you will outlive your money or will your money outlive you?” And the truth is I didn’t know. We have a 401k and we got stock options with Google but the truth is I didn’t know the answer to that. So what he said was “Listen, if you don’t know,” here’s what he basically offered to us He said, “Look, why don’t we sit together for a while and look at your financial goals and look at your current investment portfolio and then I’ll review it together with you. Then if I think you are currently totally on track and everything is set the way it’s supposed to I’ll tell you so and that will be it. If, on the other hand if I think we can make some adjustments or improvements on the strategies to reach your goals better and maybe answer that question I just asked you I’ll do so in a simple way in plain English and then I’ll recommend some specific alternatives.” You know when he said that to me it resonated and that’s exactly the way he was. He was very relaxed, he looked at our finances and at the end of the day we made some adjustments. What he did was he set us on a program using what we already have now, we’re going to have $5,000 guaranteed income at retirement, we have our kid’s college taken care of, growing totally tax free. We cleaned up our life insurance, we got more coverage and spent less money on it and we got something called a living trust which we never had before. So not only was I excited about the company because it had the same philosophies but it really honestly made an impact on my financial life.

So what I’d like to do, the reason I’m calling is because I’d like to ask a favor if you and Melinda would sit down with me and this guy Jonathan, let him do a presentation, show you what he showed me. And be clear, there is not obligation regardless of the outcome we’re totally friends. You can’t buy anything anyway on the first visit, we don’t do business on the first visit. It will at a minimum help me out but very possibly maybe he’ll show you a couple of things and I’m not trying to put you on the spot but just think about this question. “Do you really know if you will outlive your money? Or will your money outlive you? You don’t have to answer right now, not trying to put you on the spot, but just think about that. So with that in mind would it be too much trouble if maybe you would allow us to do a presentation for you for 45 minutes or so?

Okay so that’s kind of how you could use the coffee script of a variation on that theme, I think other than that I don’t know any better other way to set up an appointment with a warm market.

I think that letters and emails and pre approach letters, not in the warm market, it’s too corny. Even better doing it face to face, but then the trainee will have to practice that more. The advantage of the phone is they can practice the script ahead of time, they can write it out, read it out loud five to ten times and then get on the phone but you can still have the script in front of you.

On the other hand if, oh, and you can get off the phone when it’s done. See if you do it face to face in some ways it’s more effective but the trainee is stuck or caught. In other words if that guy they or the person they are prospecting says “well tell me more about it” what’s he going to do? He can’t run away, he can’t forcibly change the conversation or topic, he has to stick with it. Now he gets caught in the 20 questions, he gets caught in the game of can the prospect ask more questions than the trainee can answer, but the phone has the advantage that you can get off of it. But I think both have benefits so if they’re comfortable enough and they learn that then they have the ability to do it face to face.

So hopefully that helps, if you have any comments let us know. Until next time.


Additional Phraseology

"I wanted to call you to see if you can help me out? (WFA) I wanted to ask about two things:

  1. I need help with a training appointment to show you a 30 minute presentation
  2. I want to apply for the job of your financial advisor. My manger will be your advisor, until I am licensed."


Handling Objections


WE'RE NOT INTERESTED IN BUYING ANYTHING / WE ALREADY HAVE SOMEONE WHO HANDLES OUR FINANCES

John, obviously you know I would never use our relationship to try to get you to buy something you didn?t want or need. I really want you to see what I?m doing so you feel comfortable referring me to people like you. You and I both know that you would never be comfortable unless you were totally impressed, right?


ALREADY HAVE SOMEONE WHO HANDLES OUT FINANCES

That's great john, a lot of our current clients had someone before they met with us, but once they allowed themselves to see the difference in our financial needs analysis, they were disturbed by how much they were limiting their personal financial success.


Trainee Using Pre-Call Emails / Letters

Email/Letter 1

Joe,

I am sending this letter to inform you that I have recently started my new career in the Financial Services Industry. This business allows me to assist individuals in setting dreams and goals for their financial future. This is done by offering many products and services including low cost life insurance and quality retirement investment options. For a more detailed description of what I am able to offer through IP Securities Inc, please see the following page with my attached business card.

I have also enclosed a brochure that highlights an excellent financial mapping tool that we use called the MoneyEdge. It is an easy to understand, yet comprehensive mapping tool that helps people review their retirement planning, children’s education planning, insurance planning, emergency funding, and debt elimination. If you would like a complimentary MoneyEdge run for you, please contact me and I’d be happy to help you.

Thank you for taking the time to read this letter and review the enclosed brochure. If you know of anyone whom I can be of service to, please pass my name along or refer their name to me. Also, if I can be of service to you, do not hesitate to call me.

Sincerely,

Email/Letter 2

Dear Jon,

I meet with people on a daily basis who spend more time planning their next vacation than they do planning their financial future. Unfortunately, the financial world is so complex that most people don’t know where to start.

My name is Scott Frazer, as a financial advisor I begin by helping my clients to determine where it is they want to go. After showing them where they are, I lay out the roadmap to their desired destination. Together we do our best to follow that road map, and if needed, make course corrections along the way.

Most advice I have heard in the past was based on products and not on my personal needs. That is why I refuse to give advice without knowing your personal needs, goals, and concerns. What is right for you may not be for your neighbor.

IP Securities is a company base on doing what is right for the client, not what is best for the company. IP Securities has agreements with many other companies that give us a wide array of financial planning tools, from mutual funds to Insurance products. To better understand what we offer please visit www.Parsonex.com.

Thank you for taking the time to speak with me on the phone. I will be getting in contact with you soon to schedule a free consultation. Please share this information with your spouse or anyone else you confer with for your financial decisions.

A good plan executed right now is far better than a perfect plan executed next week.”

-George S. Patton

Sincerely,

Email/Letter 3

Friends,

I have recently made a career change. I am in an apprenticeship program with IP Securities Inc to learn to become a Financial Advisor. As many of you know, I have been seeking the right balance between family and career. With my educational background in business, and professional background in financial services, I have discovered this to be a perfect match.

Recently, my husband and I became clients of IP, and after seeing how their innovative, and cutting-edge financial strategies impacted us in a positive way, I decided to start in their part-time training program.

I would like to share some of these concepts with you in the same non-threatening and "soft" manner that my husband and I experienced. There is NEVER any obligation, and you would really be helping me get my feet off the ground.

I will follow up with you in next month to see if you would be willing to help me.

Sincerely,

Alice Apprentice


FAQs


Should I go on Client Appointments before getting licensed?

Short answer: Yes! There are four reasons:

  • You are a trainee. Your primary goal is "learning" not earning. The purpose of Field Training is training. Why wait?
  • Help the client. If you wait to help your friends and family until you get full-licensed, it may be too late for them.
  • You can earn money with living trusts.
  • Build your team. When you become a Field Trainer do you want to have a team of 20 Associates or one?

Negatives

  • You lose a little money on Life Insurance, LTC and Securities sales. But, when you are the Field Trainer then you will earn the income.
  • Note regarding securities sales: Change of Rep form will fix that when you get your Securities License.

Positives

  • You get trained. Your goal is to become competent and confident by the time you get life-licensed. Be independent and set your own schedule.
  • You build a Client Base. 10 to 15 clients.
  • You build a Referral Base. 50 to 75 prospects.
  • You build a Team - 1 to 6 Reps. Begin overriding your Team the day you get licensed!
  • Earn $$ Living trusts
  • Pre-qualify for your first promotion. Get promoted the day you get licensed!


How exactly do I get paid while in training?

First off, we cannot pay you for any products for which you are not licensed We can't pay you at the time of sale, and we can't pay later when you receive your license.

For example, let's say you and your Field Trainer help a family with Living Trust,, Term Life Insurance, and an IRA. Assuming you are a New Associate but have not yet passed your life exam, you will get paid on the Trust . You will not get paid on the Insurance nor the IRA. However, when you receive your Securities license all securities trades will be "coded" back to you.

You see, your primary concern during training is "learning not earning." Your goal is to watch, listen and learn as your Field Trainer helps a family. In addition, you will soon become a Field Trainer at which time you will be fully licensed and be able to earn income on all products sold. By the way, every Field Trainer was once a Trainee - we have all paid our "dues."


When do I do my own Client Appointments?

You do your own CCs when you have all the licenses and have experienced at least 6 completed CC. By the way, doing your own CCs means you are "Solo" but you cannot yet train others. You must become a Field Trainer for that.


To Split or Not to Split the Sale?

Only split sales if the two Advisors don't override each other.


What if I think I have a "better" way of doing things.

We believe that New Associates should be indoctrinated into duplicating our system, before trying something new. You should follow the system of your Branch President and give it a chance to work. If you change it too soon you lose the mentor ship of your trainer/BP because they are not familiar with your system. You also don't have a reference point to know if your system is actually better.

Put your blinders on until you are experienced enough and have some success. You can make adjustments later. Consistent duplication of one system is essential in order to avoid confusion in your business, which is precisely what occurs each time a leader change systems midstream. Please do not "reinvent the wheel." When you become an BP, you can then change the way you do things - but not until then. Be coachable.

Recruiting Interview (RI) vs Business Briefing

Do I invite people to the Business Overview Meeting first, or should I set up a Recruiting Interview with them first?

That depends. CI are the preferred choice because they are more effective. However, you don't want to "waste" two hours of your time with a prospect that statistically isn't going to get involved with us. Therefore, if they are 4-6 "pointers" then set up a CI, and if they are 0-3 "pointers" then invite them directly to the Bus Overview. Remember, everyone eventually gets invited to a Business Overview anyway.