MDRT Annual Meeting 2013

Welcome all MDRT friends and attendees.

It has always been my experience that much of the value from attending the MDRT Annual Meeting arises from discussions/conversations over coffee, drinks or dinner. And this year already looks to be no exception. I had not been in Philly for more than 3 hours before the learning began.

Mary Catherine Taylor, a long term MDRT Top of the Table member and I were discussing how important it is to get the "WHY" totally clear (why we do what we do, why clients may need us, why their financial plans are important, etc.) before moving on to "WHAT" we do and "HOW" we do it.

We will not get clients to their "WHY" without having the courage, confidence and capability to ask difficult questions.  Mary says to clients: "It is my job to come into your life like a mini tornado. I will stir things up, probably make you feel uncomfortable, destroy some preconceptions and ask some difficult questions but when things settle down you will know whether your plans had firm foundations and whether you need to make changes to be sure you properly deal with today's lifestyle and lifetime planning needs rather than yesterday's".

I love this.  It truly shows commitment, confidence and courage and engages the client in a fact finding process which will gather the soft facts as well as the, compliance essential, hard facts.

Thanks Mary.  I may have butchered your words but hopefully I have captured the essence of your approach.  And that's another lesson.  Any good ideas you take home with you don't just copy them - adapt and amend them until they are truly and authentically yours.

Don't forget to add your email address to get blog updates as the meeting progresses and share this on Facebook, Twitter etc.

Richard Cook @ Philadelphia Marriott

rhcook@btconnect.com

www.advisersuccess.blogspot.com

www.theretirementteam.blogspot.com

Note:  www.advisersuccess.co.uk is currently being updated. The new site will be availed soon

MDRT 2013 ConneXion Zone Presentations

I am presenting at the 2013 MDRT Annual Meeting in the ConneXion Zone^TM.   My session details are:

Date:  Monday, 6/10/2013
Time:  11:45 am - 12:00 pm
Title:  A 15 Minute Guide to Orchestrating Quality Referrals
Speaker Zone:  5

Date:  Tuesday, 6/11/2013

Time:  2:10 pm - 2:25 pm

Title:  A 15 Minute Guide to Orchestrating Quality Referrals

Speaker Zone:  4

This is a session not to be missed.  I will be asking you for 15 minutes to forget all you have been taught about asking for referrals and instead to think about what happens in the real world. When did you last refer someone to a film, book or restaurant? Or did you recommend that book, film or restaurant during a relevant conversation because it made you feel good?

Learn how to educate your clients to identify conversations about subjects where you can help, why they should think of you, how to introduce you in to the conversation and then to include a call to action.

Banish the word "referral" for ever. Just educate your clients to feel good about recommending you to their friends, family and colleagues.

For the full transcript email rhcook@btconnect.com with "orchestrating referrals" in the subject line.

Guest Blog Don Connelly

Get beyond your hesitations         Weekly Tip From Don    A Surefire Way to Avoid Prospecting   A great way to avoid prospecting is to spend too much time getting ready to prospect.  It's quite possible to eat up so much time that there is no time left in the day.  If you feel this might be you, ask yourself why.  Are you afraid of rejection?  Are you unsure of your own abilities?  Do you not know the proper way to prospect?  Perhaps you are hesitant to expose people to the stock market.  Whatever the reason or reasons, you've got to get beyond them.  Seek out someone who can make you good at prospecting.  Any fears or pains you may experience by coming in contact with new people will be small compared to the enormous rewards of running your own successful business.  Thanks for your confidence in allowing me to play an important role in your success.  I trust you find these weekly ideas helpful.      As always, good luck and good selling.

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Hargreaves Lansdown

HARGREAVES LANSDOWN

The comments below were my response to an article in New Model Adviser about Hargreaves Lansdown's half yearly figures which were quite outstanding.

Most of the early respondents were quick to critisize their business model and client offering. My view is that we ignore their business success at our peril. We must learn from the way in which the public are using their services in even greater numbers if we are to compete and not finish up as just a niche profession of no interest to most people.


"We must stop this inward looking and accept that the public do not value financial advice and are voting with their feet. The public will trust their own financial adviser but they certainly dont trust the rest of us and feel safer looking after their own investments. It is time every IFA signed up to the Hargreaves Lansdown newsletter and all the marketing which supports it and start to understand why the public are responding in such great numbers. Look at your web site. The probability is that all you are asking a visitor to do is give you their contact details. That feels very dangerous when all they want to do, for now, is continue their research without having to speak to a human. With the right processes in place they will let you know when the time is right to move on to a one to one conversation which can result in the long term relationship we all want. If we are to survive it will be because our marketing and relationship skills have been finely honed. If you have no-one to speak to all the qualifications in the world are pretty useless "

Richard Cook

Richard Cook is one of the UK's leading financial planners, a 30 year MDRT member( 10 years at Top of the Table Level) and a 15 year participant in The Strategic Coach Programme. 

 The Adviser Success website www.advisersuccess.co.uk was launched in 2011 to support the presentation Richard was giving at that year's annual MDRT Meeting. Since then he has been totally committed to facilitating the transfer of his business and client bank to Fidelius Ltd who purchased the business of The Haven Partnership Ltd in Sept 2010. That exercise was completed at the end of November 2012 which means that Richard can now concentrate on his mission of helping Financial Planners, who truly have the interests of their clients at heart, to become more successful in both their business and personal lives. 

 The intention is for the website and blog to provide access to loads of free information,knowledge and wisdom. This will be supported by group and individual coaching and consultancy where appropriate. 

 Richard is an accomplished public speaker who has addressed financial services audiences throughout the world including USA, Canada, Singapore and Israel. He is now available to speak both to financial services audiences and at workshops/seminars aimed at building your client bank. 

 Richard will be at MDRT Day in London on Tuesday 12 February where in conjunction with Strategic Coach he is offering a complimentary half day coaching/consultancy session to the lucky winner of a business card raffle. If you are there don't forget to visit the Strategic Coach booth and make your entry. The next blog will cover the big issues from MDRT day. There are some top quality speakers so there should not be a shortage of material. To make sure you don't miss out enter your email address in the box provided. If you are on Facebook please LIKE us and SHARE us with your financial services friends.