The Perfect RIA cover image

The Perfect RIA

Fricken DIY’ers

Aug 17, 2023
The podcast discusses the challenges posed by DIYers and the change in approach to charging for prospect appointments. They emphasize the importance of delivering value during meetings and highlight the role of seminars in building relationships. They explore the use of a fact finder document to establish credibility and the benefits of charging for prospect appointments. They also discuss gathering client information, setting goals, extreme accountability in financial planning, and the ideal clients they aim to onboard.
29:30

Podcast summary created with Snipd AI

Quick takeaways

  • Charging for prospect appointments can be a valuable approach to filter out "brain suckers" and focus on providing maximum value to serious potential clients.
  • Financial advisors should embrace do-it-yourself prospects, recognizing their efforts and offering guidance and validation, while also addressing specific client needs and concerns.

Deep dives

Charging for Prospect Appointments

The podcast episode discusses the decision to start charging for prospect appointments at Shilansky and Associates, an RIA in Anchorage, Alaska. The hosts share their experience of conducting seminars and using fact finders to establish credibility and build a relationship with prospects. They explain their reasoning behind charging for appointments, drawing comparisons to other professions that charge for consultations. The hosts emphasize the importance of delivering value and having a positive mindset when meeting with prospects, even if they are do-it-yourself individuals. They also provide insights on the prospect process, including asking for questions beforehand, and highlight the need to embrace prospects who seek a second opinion.

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