| 3 minutes read |
“Hi Joyce, let’s meet on Wednesday. I’ll have 30 minutes for you over lunch.”
This is all fine and dandy if the appointment is to simply pass the client a file, or to process a simple claim. However, if this is a financial review or planning appointment, my reply would be, “I’m afraid we’ll have to reschedule. I’m usually very detailed in going through financial reviews and planning so that it’s worth both of our time. Most of these sessions take about 2 hours and my clients find more value in these sessions, rather than me scraping the surface and rushing through the appointment. I want to bring the same value to you too. Would you be able to make it on Friday or next Monday instead?”
"Most of these sessions take about 2 hours and my clients find more value in these sessions, rather than me scraping the surface and rushing through the appointment."
I’m in the business of meeting people and some find it counter-intuitive that I’m rejecting appointments. However, as a Financial Consultant (FC), I’m also in the business of protecting your finances and to ensure that your family gets by when you are no longer around, or when you’re struggling with a serious illness. To do that, we need to run through many details – how much protection would be sufficient for your family; what are your current income and expenses; what can you save on; what are your goals and dreams; how much can you allocate for financial protection vs. accumulation (based on your prioritisation); and the list goes on and on – not forgetting the time I need to explain your policies to you, so that you understand what plans you have in place.
I’m all up for efficiency (and have implemented several processes to save you time) but surely, we need more than half an hour to discuss and plan a lifetime of safety nets and goals.
"...surely, we need more than half an hour to discuss and plan a lifetime of safety nets and goals."
“But Joyce, like that may lose a client leh.”
I get that, and I hate losing clients simply because there’s no knowing who they’ll meet next. Will they meet someone like me or will they meet the other FC who will take less than half an hour of their time to shoddily close a plan that may not be suitable? Will that other FC explain the policy to the client, or will the client just sign and move on with his/her busy life, only to discover certain clauses 10 or 20 years down the road when they look into the fine print?
And it is exactly because of the above that I will turn down that appointment. I do not want to be that “other FC”.
To my clients and clients-to-be, my guarantee to you is that your time with me will be worthwhile. So, give both of us the time to carefully plan out suitable financial plans for you and your family.
To my fellow FCs, go through the due process with your clients to find out what they really need. When you add value to your clients, your clients will most certainly value the time spent with you.
I value each and every one of my client relationships and because I value them so much, I say “no” to half an hour financial reviews and planning appointments.
"I value each and every one of my client relationships and because I value them so much, I say “no” to half an hour financial reviews and planning appointments."
Disclaimer: The opinions expressed in this article are solely my own. If you require more information, please feel free to PM me or speak to your trusted financial consultant.