Football team

Unfortunately, many financial advisors are fooling themselves by only selling their products and not themselves. It is important, very important to focus on the value that you, as an advisor, bring.

The football analogy establishes your role as a key player in the client’s “Financial Team”.

You and I, as qualified financial advisors, must stand shoulder to shoulder with other professionals, such as accountants and solicitors/attorneys, but to do so, we must position ourselves in this context from the beginning of the client relationship.

Here’s how I explain it to prospects:
“Financial planning is like a football team, Mr. Future Client: it is made up of two fundamental elements:
OFFENSE and
DEFENDING.
The crime includes all the proactive steps you take to achieve your financial goals, such as saving for a house or for retirement.

Defense is what you do to protect yourself and your family in case something goes wrong.

This includes insurance planning to “defend” against premature death or long-term disability.”

As you know, in soccer, like in any team sport, you need both a good attack and a good defense to win the game.

“In my experience, clients who surround themselves with a strong team of professional advisors are more likely to achieve their financial goals. Think of these key people as your “Financial Team.” I can certainly help with many of your financial needs, but I can’t I’m the only player you should have on your team.”

“You need three forwards on offense. First, an investment advisor to help you with wealth accumulation, that’s my responsibility. You also need an accountant to prepare your returns and provide sound tax planning strategies. Finally, you need an investment manager.” bank to help with money management needs such as savings accounts, credit cards, home loans.

“The two defending players on your team should be an insurance advisor and a solicitor/attorney. The insurance advisor recommends the right coverage to protect you and your family in case something goes wrong. I can definitely help here too; You could say that I am a two-way player who plays both an offensive and defensive role.

“A good attorney will handle your will, powers of attorney, and other legal and estate planning matters.”

“There is another important position: Lateral or, if you wish, Goalkeeper.
That’s you.”

“You are responsible for ‘taking care of your goals’ and keeping the rest of us up to date on your changing financial goals. Working together as a team, we will help you achieve your goals.”

Ladies and gentlemen, using this idea during your initial meeting with a prospective client accomplishes two goals.

First, it clearly states that your role is of equal importance to that of the client’s other advisers, such as your accountant and lawyer.

Help the customer see you more as a trusted professional than a traditional ‘salesperson’.

Additionally, this idea can be used to put the prospect at ease by taking the pressure out of making immediate financial decisions.

Tell the client to think of this first meeting as his “test run” for his finance team: an opportunity to see how he works and the value he can deliver.

Explain that the only decision you want them to make at the end of the meeting is whether you have earned the right to be part of their finance team. This shows the customer that your first priority is not to make a quick sale; is to establish a strong working relationship based on trust. This establishes instant credibility.
Thanks.

Carlos (also known as Chas) Banhelyi is an experienced Australian financial advisor with over 30 years of practical financial advisory experience.

Carlos first presented the football team speech in 1986 to Bondmark Financial Advisors in Melbourne. Australia.

Since then, Carlos has given the above presentation many times throughout Australia. The last presentation was made in June 2008.

If you would like Carlos to be a guest speaker, please contact him via email at: [email protected]