125: Building A Screening Process To Identify Perfect-Fit Prospects Ready To Act with Dr. Meghaan Lurtz
The Human Side of Money
Establishing Effective Screening Techniques for Ideal Prospects
This chapter emphasizes the critical role of a structured screening process in identifying and evaluating potential clients in financial advisory. It provides strategies for aligning prospects with advisors' expertise to enhance engagement and achieve favorable outcomes.
Here’s a question for you:
On a scale of 1-10, how confident are you that your screening process will yield conversations with prospects who are a good fit AND ready to take action?
If you answered anything less than an 8, you’re in good company.
Most advisors spend way too much time meeting with prospects only to find out they aren’t a good fit.
Fortunately, Meghaan Lurtz has researched and written about this process. In this episode, she reveals the steps to build a screening process that brings in prospects who are the right fit and ready to take action. (While also changing the trajectory of trust for the entire relationship!)
What You’ll Learn:
- The best questions to ask in a screening process
- Why 80% of prospects aren’t ready for your advice
- What’s going on in the prospect’s mind before your meeting
- How long do prospects wait before actually contacting an advisor
- A question you should ask all prospects (but almost no one does)
*To sign up for Brendan’s newsletter packed with resources to master the human side of advice → Click Here
Resources:
- COUPLR.AI
- 97: A Blueprint For Conducting “Re-Discovery” Meetings With Long-time Clients With Meghaan Lurtz
- 75: Understanding The Brain To Ignite Motivation Within Clients And Prospects With Ted Klontz
- 122: Implementing A “Family Eos” Approach To Create More Intentional Goals With Isaac Presley
Connect with Brendan Frazier:
Connect with Dr. Meghaan Lurtz:
About Our Guest:
Dr. Meghaan Lurtz is a leading global expert on the psychology of financial planning and a Partner at Shaping Wealth. A dedicated educator, she is a Professor of Practice at Kansas State University, teaching in the Advanced Financial Planning and Financial Therapy Certificate Programs. She is also a lecturer at Columbia University, where she teaches Financial Psychology. She serves on multiple financial technology boards, bringing together finances and mental health. She is an active researcher, writer, and ongoing contributor to the Kitces platform, writing about the intersection of money, advice, and well-being.
Meghaan has finished her Ph.D. in Personal Financial Planning at Kansas State University. Meghaan is a past President of the Financial Therapy Association.
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Content here is for illustrative purposes and general information only. It is not legal, tax, or individualized financial advice; nor is it a recommendation to buy, sell, or hold any specific security, or engage in any specific trading strategy.
Information here may be provided, in part, by third-party sources. These sources are generally deemed to be reliable; however, neither our guest nor RFG Advisory guarantee the accuracy of third-party sources.
The views expressed here are those of our guest. They do not necessarily represent those of RFG Advisory, its employees, or its clients. This commentary should not be regarded as a description of advisory services provided by RFG Advisory, or performance returns of any client. The views reflected in the commentary are subject to change at any time without notice.
Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, LLC (“RFG Advisory or “RFG”), a registered investment advisor. Private Client Services and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.
RFG Advisory is an SEC-registered investment adviser. SEC registration does not constitute an endorsement of RFG by the Commission, nor does it indicate that RFG or any associated investment advisory representative has attained a particular level of skill or ability.
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