Articulating Your Wealth Management Strategy

True wealth management means helping clients in every aspect of their financial lives. Address complex financial needs utilizing three institutional capabilities—banking, brokerage and insurance.


  • Deliver your comprehensive wealth management strategy in a memorable way.
  • Define the importance of your wealth management approach to both prospects and clients.

Practice this script to explain your watertight financial process.



“Mrs. Jones, I would like to take a couple of minutes and explain the evolution of the financial services industry and my position in that evolution through the use of an analogy. No matter what financial institution you might be talking to, they’re all trying to accomplish basically the same thing for you. They’re trying to construct a financial craft, put you and your family in it, and ship you off to your destination. For illustrative purposes, that metaphorical craft being built is a boat. So basically what we’re trying to do is construct a financial craft in the form of a boat and put you and your family in that craft and ship you off to your destination.”

“That boat comprises three elements: a sail, a hull and a life preserver. Those are the three component parts of the financial craft that we’re trying to build for you. The sail represents equity securities. These securities have the potential to increase or decrease in value over time. For example, Mrs. Jones, your home is an equity-based security. It appreciates or depreciates in value over time. Other examples include stocks, gold and other commodities, as well as other forms of real estate. The hull represents any kind of fixed income security. That would include investments such as CDs, Treasuries and municipal bonds; all designed primarily to throw off an income, versus appreciate or depreciate in value. The third element of the financial craft that we’re constructing is a life preserver. The life preserver represents any insurance-based products that are primarily designed to protect you and your family, versus throw off an income stream or appreciate or depreciate in value over time. Although it may have some of those components, it is designed primarily for protection.”

“Now, Mrs. Jones, let’s say you have $1 million to invest. There are currently three institutions that would be happy to build that financial craft for you. Those three institutions are the banking, brokerage and insurance industries. Let’s first go down to the local bank and say ‘Mr. Banker, would you please build my financial craft for me?’ The banker would be happy to do so. ‘Absolutely, I can do this as well, Mrs. Jones. Here you go. Have a nice trip.’ You look at that craft and say, ‘Well that’s very interesting, Mr. Banker. If the financial seas get really turbulent, at least I’m stable. However, I was actually hoping to retire sometime before I keel over (no pun intended), and I’m not quite sure this tiny little sail is up to the task. And that life preserver doesn’t really look like it’s going to meet the needs for myself, my family, or my business, if there’s any kind of unforeseen catastrophe. This thing kind of reminds me of the Titanic. I appreciate your help. Let me go see my buddy the broker.’”

“So you call your broker and his assistant says, ‘Paul should be getting back today from his third trip to Vegas this month—how does 3:15 look?’ While you’re sitting in the reception area, your broker comes flying through the door and says, ‘Man am I on a hot streak! You want a boat? I’ll build you a boat. I’ll build you a boat that will blow your socks off. Hey buddy, let’s rock and roll.’ You look at that boat and say, ’That’s pretty exciting, Mr. Broker. With that sail, it looks like I could retire in the next six months, and I could send my six-year-old to college next year. But what if the economic seas get a little turbulent? With that tiny little hull, at best I’m seasick and at worst I’m capsized. And by the way, I can barely see that breath mint you’re calling a life preserver. I appreciate your help. Let me go see my buddy the insurance guy.’”

“By now you can see this one coming, Mrs. Jones. You call the insurance guy and he says, ‘You know it’s funny that you should call. I had a vision last night and a voice said, ‘build it, and she will come.’ And you end up with this thing. I guess you stick the sail on the life preserver and hope for the best. For over a century, that’s been the problem with the financial services industry. Many had a very narrow view of your portfolio and your financial needs based on limited training and limited access to products and services.”

“It’s the old saying, Mrs. Jones: If all you have is a hammer, everything looks like a nail. Well, we work for a firm that’s basically a giant financial warehouse, which allows me as your advisor to go into that warehouse and pull out whatever is necessary and appropriate for you to build a proportional craft that is designed to help take you safely and effectively to your destination over the long haul. Does that make sense as a methodology, Mrs. Jones?”

If clients are able to get all the help they need from you, they’re less likely to look for outside services.

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Why This Matters

A comprehensive financial plan becomes the roadmap upon which investments must hang in order to pursue a successful journey. Without this roadmap, all investment and financial decisions occur within a vacuum, and are judged capriciously and randomly.

See the CEO Advisor Institute Compelling Conversations Guidebook here.