WHY is this meaningful to you?

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In order to leverage the unique advantages of our three-part Wealth Continuum, it’s important that everyone at the organization who is involved with moving clients within this continuum follows a well-defined, professional process that focuses on providing the best and more organized transition for the client.  This has to be done in a manner that ‘feels good’ for the client and is manageable for the individual on our team doing the realigning.

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WHO is this proven strategy designed for?

 

For those who want to successfully work within the Wealth Continuum at their organization to facilitate seamless transitions of clients to ensure they receive the best, and most appropriate servicing based on where they are on the wealth continuum.

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WHAT should you expect?

 

You will: 

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• Learn how to successfully receive clients from a Financial Planner who are not a good fit for them in terms of an asset and/or planning perspective, and begin building a successful relationship with them

• Learn how to professionally realign clients to Financial Planners when they reach the appropriate asset thresholds and/or have comprehensive financial planning needs

• Understand the VirtualWealth process and how implement it when appropriate

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WHAT you need to know

 

• What You Can Expect from this Best Practice

• CUSO Wealth Continuum Revisited

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HOW to Take Action & Implement Successfully?

 

This will outline the processes and resources you need to effectively transition clients on the Wealth Continuum.

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Transition from Financial Planner to MFIS

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1. Become familiar with and follow the Transition Checklists:

   • Refer to and use the Client Transition Checklist.

2. Be fully prepared to implement all client facing activities leading up to the initial meeting with your new client with occur directly after you initiate the transition with the Initial Client Notification:

   • Refer to the Step 1_Thank You for Referral.

   • Refer to the Step 2_Transition Meeting Booking Script.

   • Refer to the Step 3_Transition Meeting Confirmation Email.

   • Refer to the Step 4_Transition Meeting Confirmation Call Script.

3. Get comfortable with and rehearse the Transition Meeting.

   • Review and print on Letter Head the Step 5_Transition Meeting Agenda.

   • Review the Step 5_Transition Meeting Script

4. Be prepared to fully welcome your new client by having the following welcome steps ready to implement and deliver:

   • Step 6_Transition Welcome Card.

   • Step 7_Transition Welcome Letter.

   • Step 8_Follow Up & Care Call.

5. Update your Existing Client Rebranding Tracker accordingly.

 

You have now effectively set the stage to reposition yourself with your existing client.

 

Transition from MFIS to Financial Planner

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Use the Transition Checklist: MFIS to Financial Planner to guide you through this simple 5 step process.

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1. Have an initial discussion with the client about working with a Financial Planner.

   • This should happen when the client's situation requires working with a Financial Planner who has qualifications and experience to assist with a variety of advanced planning solutions.

   • Clients with investable assets of $100,000 or more should also be referred to a Financial Planner.

   • Refer to the sample Initial Discussion Script.

2. Send an email notification to the Financial Planner.

   • Inform the Financial Planner you have a client who should be working with them.

   • Request a time to discuss the details of the client situation with the Financial Planner.

   • Refer to the sample Email New Client Notification Template.

3. Have a detailed discussion with the Financial Planner about the client you are sending them..

   • Refer to the sample Client Realignment Agenda.

   • Turn over all physical and digital files if applicable AND in accordance with regulatory standards.

4. Send an Introductory Email to the client to virtually introduce them to the Financial Planner.

   • Refer to the sample Email Introduction to Financial Planner Template.

5. Arrange to have the entire MAXIMIZER Household/Contact record aligned to the Financial Planner.

6. Everything from this point forward is the responsibility of the Financial Planner.

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Transition to and from VirtualWealth

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1. You will receive initial training on VirtualWealth in your 90-Day Fundamentals 1 Training CAM or AQM. 

2. To learn more about the client experience with this platform, visit VirtualWealth.

3. You should also become familiar with the VirtualWealth Do's and Don'ts.

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Set a recurring trigger on Maximizer to pull a report of your VirtualWealth Clients on a Quarterly or Semi-Annual basis to identify those clients who are ready to shift back to you as "Intermediate Accumulators".

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Watch Here to Learn More

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