How you can help them
01
Assess their risks holistically
- You all have clients you know are your best ones: they have commitments, complex financial arrangements and they value good advice (that’s why they come to you after all).
- These are the clients you should consider referring. They’re the ones who are most in need of specialist advice but don’t know it. This is where Step 2 comes in.
How to uncover risks:
“We all believe it won’t happen to us, but lots of people die unexpectedly, get severely injured or sick every year. Ask yourself, if this happened to you:
1 – How would you or your family pay all your commitments (mortgage, school fees, living expenses, lifestyle costs)
2 – Could you support your financial dependants, and how would you feel if you couldn’t?
3 – Do you have a big enough financial buffer or would you need to start selling assets to survive?”
“Is there a single individual in your business who is absolutely essential to your success?
What would happen to your business if suddenly they couldn’t work because they were sick, injured or dead?
Would you lose revenue or IP, have all the expenses of finding a replacement, or worse, face a serious loss of business viability?”
“What happens to your business if a fellow shareholder dies unexpectedly, becomes permanently incapacitated, or seriously ill?
Could you afford to buy them out or pay their medical bills? What about loans they owe the business, or personal guarantees they’ve given – can you back them?
Worst case, if they die, would you want to be in business with their family? (this one will really get them thinking).”
02
Prod them to think about it
When reviewing a client’s financial situation, you’re looking for risk exposures that are going unnoticed, and that a specialist is best-qualified to handle. Few clients will be risk-free, and many will have unprotected liabilities or business risks they haven’t even thought of.
- All you have to do is raise the issue and ask them:
- What’s your plan for dealing with this if things don’t go as you expect?
- Do you understand the consequences of doing nothing about it?
Remember: you don’t have to solve the problem. That’s our job, all you have to do is refer them to the specialist.
03
Introduce Steadfast Life
- This is the easy part: just make an introduction, the same way the GP does when she refers you to the specialist:
- “I’m recommending you speak with Steadfast Life. They can do a detailed risk assessment and tell you what your options are. Here are their details, they’ll contact you in the next couple of days to make an appointment."
- It's that simple. Your client gets the advice they need and you’ve met your duty of care. We’ll keep you fully informed of our conversations and tell you what we’ve recommended for them.
How to Refer:
Referring is easy, just click
We’ve got a quick and simple process, and we guarantee to contact your client within 48 hours.
