practice builder demo

Copyright 2005 © Financial Planning Consultants, Inc.

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This presentation is designed to:

• Explore the needs of today’s professional Financial Advisor

• Show the strategy of PracticePractice BuilderBuilder FinancialFinancial in addressing those needs

• Explain the benefits of Client Relationship Management (CRM) software

Introducing PracticePractice BuilderBuilder FinancialFinancial

Based onText Library System

There are 70 slides. Careful review should take no more than 15 minutes.

At any time you can:• Order by completing the Order

Form and fax to 513-424-5752• Visit our website at

www.FinancialSoftware.com• Call the Sales Department at

800-666-1656• Exit by pressing the Escape key

The Premier Client Relationship

Management Software.

Serving Financial Professionals since

1982

Developed by

Financial Advisors for

Financial Advisors

• To optimize marketing results • To nurture prospects• To harvest referrals• To capitalize on seminars

Financial advisors are Financial advisors are faced with marketing faced with marketing challengeschallenges

to acquire new and to acquire new and better clients...better clients...

• Out of sight means out of mind• Out of mind means out of business• Are you treating your super

clients. . . super special?

Financial advisors are faced Financial advisors are faced with marketing challengeswith marketing challenges

to strengthen existing to strengthen existing client relationships...client relationships...

Financial advisors are Financial advisors are faced with marketing faced with marketing challengeschallenges

• The Internet• Company direct marketing• Product only providers• Banks

to counter competition to counter competition from increasing from increasing directions...directions...

Financial advisors are Financial advisors are faced with challenges...faced with challenges...

• To reduce operating costs• To increase revenue• To increase productivity• To make your practice work for you

www.FinancialSoftware.com Contact sales at 800-666-1656 x 13

Financial advisors must have Financial advisors must have a never ending stream of a never ending stream of clients to replenish those...clients to replenish those...

• Transferred• Retired• Disabled• Deceased

Financial advisors need Financial advisors need a process for...a process for...

• Managing large numbers of clients while maintaining a personal touch

• Clear, concise communication with clients

• Audit trails for liability protection• Marketing tools to stay in touch with

both clients and prospects• More time with clients instead of

administration

Strategies to meet Strategies to meet these challenges. . .these challenges. . .PracticePractice BuilderBuilder FinancialFinancial offers: offers:

• Pre-written and proven letters• Meeting agendas • Interview notes• Master Planning Checklist • Practice management tools• Automated marketing to clients,

prospects and seminar attendees• Integration with Laser App and

PDAs

Client LettersClient Letters 185 proven and 185 proven and

effective letters to send to effective letters to send to clients and their advisorsclients and their advisors

Organized storage of all pre-written letters. No more, “Where is the last

letter I wrote on that subject”?

Eliminate administrative tasks so the advisor can do what makes money – staying

in front of the client

Each letter Each letter can be easily personalized can be easily personalized

and edited to fit your practiceand edited to fit your practice

Meeting AgendasMeeting Agendas

An organized meeting is an effective one

Pre-formatted Pre-formatted agendas help the client and theagendas help the client and the

advisor prepare foradvisor prepare formeetingsmeetings

An established processAn established processfor meetings createsfor meetings creates

consistency in your officeconsistency in your office

Pre-formatted agendas help the client and the advisor

prepare for meetings

The importance of standardized letters and pre-formatted meeting agendas cannot be over emphasized!

PracticePractice BuilderBuilder FinancialFinancial keeps an electronic copy of every item sent to every client.

PracticePractice BuilderBuilder FinancialFinancial establishes an audit trail for due diligence. You will be able to document and defend your professional conduct.

Critical time and energy making repetitive administrative decisions are kept to a minimum.

Pre-formatted AgendasPre-formatted Agendasenable you to also use enable you to also use pre-formatted Interview pre-formatted Interview

NotesNotes

You’ll find PracticePractice Builder Builder FinancialFinancial

Makes meetings more professional, helps you stay on track and enables clear

and easynotes, too

A template A template for Interview Notes is furnished for Interview Notes is furnished

for each agenda to allow the for each agenda to allow the notes to be created easily notes to be created easily

and mailed promptlyand mailed promptly

SendingInterview Notes

to the client reaffirms concerns and objectives

How can an advisor substantiate what happened in a meeting five years ago

– Who said what? Who agreed to what?

How can the advisor prove it in a regulatory or litigious situation?Interview notes sent immediately to the client confirm Interview notes sent immediately to the client confirm

the concerns and wishes voiced and provide an the concerns and wishes voiced and provide an excellent audit trail.excellent audit trail.

The advisor is beginning to establish a process:The advisor is beginning to establish a process:

Letters for use with each clientLetters for use with each client Agendas sent to the clients in Agendas sent to the clients in advance advance

– – and used during the interview!and used during the interview!www.FinancialSoftware.com Contact sales at 800-666-1656 x 13

Choose from 60 Choose from 60 common client goals and common client goals and objectives - and you mayobjectives - and you may

easily add your owneasily add your own

Again, your professional image

and your audit trail areenhanced with client

sign-offs

Always remember toAlways remember tohave the client sign off for have the client sign off for

all confirmationsall confirmations

What happens when we meet with clients and they provide us their goals and objectives?

Have you ever had a married couple who turned out to have different goals and objectives? Of course you have!

We live in a very busy society. When both spouses are working it becomes easy for them to talk only about things that are of an urgent nature at the moment.

Send the objectives with a letter requesting review and confirmation. Have the client sign and return the form. The goals and objectives will be more carefully considered and reliable.

Investment attitudes canInvestment attitudes canchange rapidly in a volatile market. change rapidly in a volatile market.

PracticePractice Builder Builder Financial Financial documents those attitudes.documents those attitudes.

Choose the Investment Attitudes that

fit your client and PracticePractice Builder Builder FinancialFinancial

automatically generates the required

documentation

When the stock market fluctuates it’s easy for clients to make emotional decisions about their investments.

With an Investment Attitudes confirmation, the situation is easily defused by referring to the original confirmation and reaffirming the client’s original attitudes and objectives.

Attitudes confirmation may be critical if you are later sued by the client or by an heir. Their signature substantiates the controlling factors regarding their investment decisions.

As you select items from the list,

PracticePractice Builder Builder FinancialFinancial automatically customizes

and prepares an acknowledgement

for the client to sign

PracticePractice Builder Builder FinancialFinancial verifies the planning verifies the planning

assumptions that you will assumptions that you will be using to make clientbe using to make client

recommendationsrecommendations

Some assumptions will be made by the advisor based on professional expertise and experience. Other assumptions will be provided by the client.

Naturally, no one can predict what the future will hold – but the confirmation of these assumptions proves that you verified with the client the criteria used as a basis for your recommendations.

RecommendationsRecommendations . . . . .When making recommendations to the client – how can an advisor remember everything known about the client and about all the planning options at the same time?

The truth is – we can’t! That’s why we need a master implementation checklist.

Other professionals use Other professionals use checklists -checklists -

• Would you get on an airplane if the pilot told you a checklist was unnecessary?

• Would you like surgery performed without the benefit of checklists?


Avoid errors Avoid errors of omission by using the of omission by using the

PracticePractice Builder Builder FinancialFinancial checklistchecklist

Scan through a list of over 750 one-line

client recommendations for the protection of both client and advisor

Each category of Each category of concern is labeled withconcern is labeled with

a specific taba specific tab

Document what Document what the client wants done, the client wants done, who’s responsible and who’s responsible and

an action datean action date

Liability protectiongives the advisor,

the firm and the clientpeace of mind

Each recommendation Each recommendation is then explained to the client–is then explained to the client–

it’s the client’s choice to implement, it’s the client’s choice to implement, but he indicates his decisionbut he indicates his decision

with signaturewith signature

The advisory process can be The advisory process can be very labor intensive. . .very labor intensive. . .

• A systematic process will reduce the expenditure of the advisor’s time

• Procedures allow staff to be more productive and reduces office stress level

• PracticePractice Builder Builder FinancialFinancial is like having an additional team of professional staff advisors

Articles in

PracticePractice Builder Builder FinancialFinancial will educate clients and prospects

Think of this section as an encyclopedia of financial

information

Each article in PracticePractice Builder Builder FinancialFinancial

can be edited by you or used as provided

A recommendation toA recommendation to

the client, as simple as the client, as simple as a Roth IRA, may need a Roth IRA, may need

to be explainedto be explained

It’s much easier to edit something already written

than to research and write it yourself

from scratch

Practice Management . . . Practice Management . . .

PracticePractice BuilderBuilder FinancialFinancial contains an entire section on practice managementThis section contains many checklists, resources, marketing suggestions and office procedures.You can benefit from other experienced advisors.

Practice ManagementPractice Managementtools to make the advisor’stools to make the advisor’soffice run more efficientlyoffice run more efficiently

Due Diligence formscan easily help build

audit trails and protectyour practice

Sometimes it’s difficultto get clients in for an annual

review – and toolslike this help

An advance checklistAn advance checklistfor an annual meeting will spur for an annual meeting will spur clients to action. It is a service clients to action. It is a service

invitation they can’t resistinvitation they can’t resist

PracticePractice BuilderBuilder Financial Financial• The tools you need are as close as

your fax or phone…• Complete the enclosed Order Form

and fax it to 513-424-5752• Or call our Sales Department

at 800-666-1656Or continue - Learn about the

powerful Marketing Module

www.FinancialSoftware.com

PracticePractice Builder Builder FinancialFinancialMarketing Module

“Drip Marketing” to maintain

“Top of Mind Awareness” with clients, prospects,

referrals and seminarattendees

Automated contact Automated contact sequences to manage your sequences to manage your important relationshipsimportant relationships

“Each year the income from your current clientele is declining, while overhead and expense increase. At the same time, you want your personal revenue to increase.

This is your marketing gap. “You really only have two choices: Work

harder every day to maintain your current standard of living, or you must put in

place a system that automatically generates new business - continually and

consistently!”Edwin P. Morrow, ChFC, CFP®, RFCEdwin P. Morrow, ChFC, CFP®, RFC

YOUR MARKETING CHALLENGE . . YOUR MARKETING CHALLENGE . . . .

0

10

20

30

40

50

60

Now 3 Yrs 6 Yrs 9 yrs

+10%

Your Business Expenses

Each year your business Each year your business expenses will continue to expenses will continue to increase . . . increase . . .

Expenses increaseExpenses increasecontinuouslycontinuously

Often, more dramaticallyOften, more dramaticallythan shown herethan shown here

0

10

20

30

40

50

60

Now 3 Yrs 6 Yrs 9 Yrs

Your Business Expenses

Your Personal Income +10%

+10%Income

Requirement

And personal income must And personal income must increase just to stay increase just to stay even . . .even . . .

Most of us want,Most of us want,even expect, to do better than even expect, to do better than

to just “stay even”to just “stay even”

0

10

20

30

40

50

60


Income from Current Clientele -10%

The revenue from your The revenue from your present clientele will be present clientele will be declining . . .declining . . .

It’s inevitable to lose clientsIt’s inevitable to lose clientsfrom relocation, retirement, from relocation, retirement,

death, disability and death, disability and misfortunemisfortune

Plus, the widespread pressure to

reduce commissions and feeswill continue and may

even intensify

0

10

20

30

40

50

60


Income from Current Clientele

Your Marketing Challenge

New Client Revenue

That Will Be Required

The net result is that you The net result is that you have a marketing have a marketing challenge . . . challenge . . .

Can you achieve thisCan you achieve thisrequired new revenue –required new revenue –

by working harder?by working harder?Or longer?Or longer?

PracticePractice Builder Builder FinancialFinancial with the Marketing Module. .

. Provides process and procedures to:• Define your clients/prospects

according to criteria you determine• Routinely and automatically maintain

“Top of Mind Awareness” by mail, e-mail and phone

• Determine the frequency and intervals of your choose

Provides seven automated marketing campaigns for clients and prospects -

pre-written and tested:• Individual Prospect

• Business Owner and Professional• Center of Influence/Media

• Initial Planning Client• Ongoing Planning Client

• Product Only Client• Referrals

PracticePractice Builder Builder FinancialFinancial with the Marketing Module.

. .

PracticePractice BuilderBuilder FinancialFinancial & Client Relationship

Management • CRM applies modern technology to

strengthen the client/customer relationship on a cost effective basis

• Understanding the definitions, interests and needs of consumers/clients and proactively responding

80% of your revenue80% of your revenuewill come from 20% of yourwill come from 20% of your

clients – but you mustclients – but you mustdifferentiate themdifferentiate them

User defined key codeslet you classify by services,

products, needs, categories, income and worth

PracticePractice Builder Builder FinancialFinancial & Client Relationship

Management

PracticePractice BuilderBuilder FinancialFinancial &Client Relationship

ManagementYears ago, the corner merchant knew each customer and anticipated his/her preferences, habits and needs.

Today, the economic environment demands that a professional advisor deal with thousands of clients/prospects.

Employ a CRM SystemEmploy a CRM System

Put technology to work for you. Become the corner merchant who has regular contact with his customers. Know their habits and needs.No one can remember to make repeated calls. No word processor will initiate the letter or write the text.

Employ a CRM SystemEmploy a CRM System

Client Relationship Management requiresa sophisticated and effective system.

Financial advisors must have a system that fits their needs and can be modified for their particular practice.


A modern Client Relationship A modern Client Relationship Management Plan for a financial Management Plan for a financial

advisor has several basic advisor has several basic components to restore the components to restore the

personal connection:personal connection:• Harvest ReferralsHarvest Referrals• Employ CRM TechnologyEmploy CRM Technology• Qualify Your MarketsQualify Your Markets• Define all ProspectsDefine all Prospects• Prune Prospect ListsPrune Prospect Lists• Adapt for the InternetAdapt for the Internet

• Define Your ClienteleDefine Your Clientele• Retain Your Key ClientsRetain Your Key Clients• Revise Staff Roles Revise Staff Roles • Re-engineer ProcessesRe-engineer Processes• Alter Business ApproachAlter Business Approach• Prepare the MaterialsPrepare the Materials

Seven marketing sequences are furnished. Each campaign has been

written and tested by othersuccessful financial

advisors

Letters and articles areLetters and articles areready for you to start ready for you to start

your marketingyour marketing

You may increase or You may increase or decrease the frequency ofdecrease the frequency of

marketing mailingsmarketing mailings

PracticePractice BuilderBuilder FinancialFinancial

• The tools you need are as close as your fax or phone…

• Complete the enclosed Order Form and fax it to 513-424-5752

• Or call our Sales Department at 800-666-1656

Or continue – See what PracticePractice BuilderBuilder FinancialFinancial users say…

Comments from Practice Practice BuilderBuilder FinancialFinancial Customers . . .

PracticePractice Builder Builder FinancialFinancial paid for itself in the first 30 days. For years it has helped me obtain and retain my planning and investment clients.

Robert Hurley, CFP Robert Hurley, CFP New JerseyNew Jersey

Comments from PracticePractice BuilderBuilder FinancialFinancial Customers . . .

The Marketing module is our secret marketing The Marketing module is our secret marketing weapon. So we’re not going to comment, but it weapon. So we’re not going to comment, but it WORKS – and it is gooooood!WORKS – and it is gooooood!

Practice Builder Financial tools help us ensure Practice Builder Financial tools help us ensure that we are always utilizing a consistent and well that we are always utilizing a consistent and well thought out process for working with our clients. thought out process for working with our clients. The software provides tremendous protection for The software provides tremendous protection for our clients because we cover everything and our clients because we cover everything and have systems in place to confirm their decisions have systems in place to confirm their decisions and actions. Further, its use provides our firm and actions. Further, its use provides our firm with a very high level of accountability and thus with a very high level of accountability and thus protection should we ever find ourselves in protection should we ever find ourselves in arbitration.arbitration.

We are very pleased with the customer support!We are very pleased with the customer support!

Clint Struthers, RFC Clint Struthers, RFC

Midland, MIMidland, MI

PracticePractice Builder Builder FinancialFinancial



• Or call our Sales Department at 800-666-1656

Or continue - Learn more about the many features of PracticePractice BuilderBuilder FinancialFinancial

Quick and easyQuick and easy

data input or import - from anydata input or import - from anycomma delimited ASCII file.comma delimited ASCII file.

Client / Prospect Home Screen

Tabs to link Tabs to link information for spouse,information for spouse,

business, family, associates,business, family, associates,referrals and advisorsreferrals and advisors


Gather as little or as Gather as little or as much information asmuch information asyour prospect offers your prospect offers

Record account or Record account or product information product information on your clients for on your clients for

quick and easy quick and easy accessaccess

ToDo Module

Schedule your Schedule your appointments and appointments and

task for your clients. task for your clients.

Laser App Integration

Sync your client data Sync your client data with Laser App. with Laser App.

Then you can easily fill Then you can easily fill in your most used in your most used

forms. forms.

Easy Data Transfer…

Palm Pilot Palm Pilot or other or other

PDAPDA

Microsoft Microsoft OutlookOutlook

Your Your PracticePractice BuilderBuilder FinancialFinancial

DataData

Your Investment

Manager

Your Planning Calculator

Advantages for PracticePractice BuilderBuilder FinancialFinancial Users:

• Systemized procedures for your office• Liability control• Automated marketing• Client communication

Practice Practice BuilderBuilder FinancialFinancial gives you the freedom to

stay in front of your clients. Let PracticePractice Builder Builder run your office

instead of your office running you

The History of PracticePractice Builder Builder Financial:Financial:

As the Financial Planning movement grew, it became apparent that software could provide the consistency required to deliver high quality service at a reasonable cost. Advisors found themselves “re-inventing the wheel” writing, filing, locating and continuously re-writing correspondence. The more involved they became identifying with their clients, the more dependent they became on systematic reminders to perform critical tasks. Continued……

The History of PracticePractice BuilderBuilder FinancialFinancial:

PracticePractice BuilderBuilder FinancialFinancial was introduced in 1983 as Text Library System and a small group of financial planners contributed the initial text and designed the scope of communications.The goal was to enable the financial advisor to concentrate on client relationships and the application of sound planning techniques. Advisors need to share the expertise of other practitioners - and PracticePractice Builder Builder FinancialFinancial became a vehicle for continued professional contributions.

The History of PracticePractice BuilderBuilder FinancialFinancial:

Every year PracticePractice BuilderBuilder FinancialFinancial is continuously edited. New items are added, and the existing material is revised and enhanced.Over 3,000 users send in suggestions for text changes and additions. Many even offer complete articles for review and addition.Program changes and enhancements are always in evolution, as the program continues to expand to meet the needs of a profession under continuous change.

PracticePractice Builder Builder FinancialFinancial Automatic Updates

In late Spring, users receive a new version, with program enhancements, text review and the Mid-Year Planning Memo to send to clients.In late Fall a new Year-End Tax Memo is posted on the website for download. This has been very instrumental in serving clients, and results in many referrals in appreciation.Periodically, when there are major tax changes, we provide a Special Client Memo, and then revise the articles that have been affected.

PracticePractice BuilderBuilder FinancialFinancial Customer Support

Phone: 800-666-1656 8:30 a.m. to 4:30 p.m. EST

Fax: 513-424-1589 (support direct)Email: [email protected]:www.FinancialSoftware.comTraining: Web Workshops

Hands on Training in Middletown, OH

Live Demonstrations of the PracticePractice BuilderBuilder FinancialFinancial

software are available.

Offered weekly:Eastern Standard Time

Monday at 10:00 a.m. Tuesday at 2:00 p.m.

Wednesday at 10:00 a.m. Thursday at 2:00 p.m.

Register at www.FinancialSoftware.com

PracticePractice Builder Builder FinancialFinancial



• Call our Sales Department at 800-666-1656• Email [email protected]

We look forward to working with you.

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