Describe what you do for your clients.

What Makes You Different?

As investment products become more commoditized, the service you provide is what sets you apart. Eloquently and concisely describe what you do for your clients.

Goals

  • Differentiate your services from your competitors.
  • Define the two most critical questions you answer for your clients.

 


Listen to the audio-only version of this presentation


 

Practice this script to clearly define what makes you different.

Script

“My team and I spend pretty much all day, every day, answering two fundamental questions that everyone has of our industry: ‘Will I make it, and do I have any financial blind spots?’ In answer to the question, ‘Will I make it?’ I have found the majority of people I speak with, haven’t even defined ‘it’! So the first thing our team does is sit down and help you define everything you are trying to accomplish with your wealth…with a high degree of specificity. We then take a look at everything you’re doing financially to determine if what you want to happen actually has the chance to occur. We basically map your current financial structure to your overall short term and long term financial objectives. If those two things align we pat you on the back and tell you congratulations. If they don’t align, we point out your specific challenges and give you detailed recommendations to help you get back on track.

“Once we have addressed Question 1, we move to Question 2: ‘Do I have any financial blind spots?’ At this stage, our team takes a 360° look at you financially, to determine if there is anything you might have overlooked that might do you, your family or your business harm. Any risk exposure we uncover will be brought to your attention and again our team will provide a rational strategy designed to help mitigate the risk. At the conclusion of this exhaustive process, you not only have a comprehensive wealth management strategy in place, but you have addressed the only two questions that have ever kept you up at night: ‘Will I make it, and do I have any financial blind spots?’”

What makes you special as an advisor says more about your clients than it does about you.

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Why This Matters

You could have the most sophisticated and elegant practice in your community, but if you sound like every other advisor, your prospect will never give you the opportunity to demonstrate how different you are.

The vast majority of practitioners position themselves as some form of comprehensive wealth advisor. Unfortunately, the majority never fully implements all the recommendations that come back with the planning document. This is tantamount to a “bait and switch” model. The practitioner baits with wealth management (because that approach is what the majority of clients are looking for), but then switches to portfolio management (at best), and simply never implements the rest of the plan recommendations.

For examples of what successful scripts look like, or to learn more about CEO Advisor Institute, contact your OppenheimerFunds Consulting Team at 1.800.255.2750.