Our mentor, Graham, provided an initial overview of the day including a reminder that one of the main purposes of the mentoring program is to encourage planners to use the Truth/Prestwood software live in client meetings. Long-term users of the software attest that this is where the greatest benefits are achieved.
The group then went on to discuss how the software has helped them to deliver particular benefits to their clients since the last meeting. A number of delegates told stories of clients being able to make decisions they would not have been able to make without a presentation of their financial future in the form of a cash flow.
A member of the group, Sean, then gave an excellent presentation on how he structures and manages annual client review meetings. The group were encouraged to ask Sean about his approach and to suggest ways it could be improved. This was a particularly useful session as a number of the delegates are still in the process of organising their review meeting processes.
The group went on to discuss and compare their various client service propositions and their charging structures. The discussion moved to the issue of when clients are asked to commit to paying adviser charges; should this be at the first meeting or later in the process? It was interesting that a number of delegates have equal measures of success with different approaches.
Another member of the group, Chris, then gave a case study presentation based on some clients he has been working with for some time. Chris was able to demonstrate how he had used the software to enable his client was to make major, life altering decisions.
At an earlier meeting, Ben from Kennedy Black had shown the group how he had used the mind map function to enhance the presentation of the software to his clients. At this meeting Ben went into some of the detail on how he had achieved this.
Overall this was another excellent workshop thanks to the active participation of the entire group. At one point it was noted that we had missed morning coffee as we had all been so engrossed with the discussion!
The next session will take place in Southwark in central London on Thursday 4th September, please contact us to find out more or to reserve your place.
