Offensive and Defensive Planning?

Hello all!

In November, we discussed reducing complexity and paring the PX down to its most critical elements to engage and motivate a prospect to action (Driving FPP #13). An extension of that is how to minimize the complexity we may inadvertently add to the learning process when developing new advisors.

When working with a group of younger advisors going through approach language, it’s very common for them to break into the idea of offensive and defensive planning, explain them both, and then begin their first “sell” on why the prospect should always begin with defensive planning. The language can get pretty long. It can be confusing. It can frame our most flexible product as a one-trick pony, and it may take what the prospect feels is most important to them off the table before they even start.

Remember, Granum taught us that the purpose of each section of the sales cycle is solely to get to the next step…the purpose of the approach is to get a fact-finder…period!

When working with young advisors, we work through an engaging learning exercise that allows them to develop language to connect with a prospect early in the conversation and see the value of continuing on through the fact-finder.

Below is a short example of the process we work through, and the “quotes” are examples of the resulting language:

• Turn the action you want the prospect to take into an identity they would like to have (see Driving FPP #3 from 12/2023).
  • "Our firm specializes in helping people become better planners in their financial lives”
  • “If you don’t mind, I’d like to ask just a couple of questions that will help you have clarity on whether you’d find this conversation beneficial"
• Make the first 3 questions from the FF the next part of the approach.
  • If we were sitting down 3-5 years from now, looking back on today, what are the 2-3 things you’d expect to have accomplished, whether it is personally, professionally, or financially?
  • What if we looked out 10-15 years beyond that?
  • What about ultimately, when you decide to retire, or no longer depend on working for your financial well-being?
• When you get the answers to these 3 questions, summarize them back to the prospect and ask:
  • "When you reflect on the answers you gave to these questions, do you see a common thread that runs through them all?"
  • “Achieving each of these things you mentioned is 100% dependent on both your ability to earn an income, and the decisions you make with that income (defensive and offensive), balancing your lifestyle needs and desires of today, with these longer-term priorities."
  • “How do you feel your current financial plan does in helping you make the right decisions in balancing your financial priorities?”
  • “Can we take a little more time now to continue this discussion? I think you’ll find it both informative and beneficial!”

Workshops that engage advisors to develop their own language through a guided process like this are impactful in helping them think like an advisor, feel less scripted in their conversations, and increase the probability of moving into a fact-finder on their quest to acquire a new client!

For a final fun way to illustrate the value of making the complex simple, the following video will make you almost as smart as Einstein! 😄

Video: General Relativity for Babies – Chris Ferrie (YouTube)

Assuming new advisor productivity and retention is in your 2025 business plan (!), we can help you put these practices into place to continually improve your outcomes ~ let’s have a conversation!

Think Differently,

Steve