Money is put into motion by the things that happen in people’s lives: births, deaths, and all the important things that occur in between, such as a career change, marriage, divorce, birth of a child, relocation, downsizing, and retirement. Life events are planning tools for advisors and can be a blueprint for your continued success.
Life event selling is built on three simple but vital concepts:
• Focus on people likely to encounter important life events. As people age, there is an increase in the number of life issues they deal with, such as taking care of aging parents, grandparenting, and retirement.
• Identify aspects of those issues where you, as a financial advisor, can be of considerable help. Almost all important life issues have a financial aspect.
• When clients and prospects become aware of the ability of financial advisors to help with a life issue, many will grab the help. This will lead to stronger relationships, more business, and more referrals.
One a year is the best estimate of the average number of important life events that occur in each family. The number doubles for those in their 50s. Since you won’t know when a life event will occur, you need to make frequent contact. The feelings clients express when they talk about life events are your keys to the sales puzzle. Use them and the puzzle will be solved.
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