Latest / The Efficient Advisor: Tactical Business Advice for Financial Planners / 183: Ideas to Implement - RESULTS: How this advisor deepened his relationship and impacted clients w/ guest John Scherer

Transcript

183: Ideas to Implement - RESULTS: How this advisor deepened his relationship and impacted clients w/ guest John Scherer · The Efficient Advisor: Tactical Business Advice for Financial Planners

• 0:00
  Speaker 1: Welcome back, gang.
• 0:01
  Speaker 1: I've had a lot of coffee today, like so much coffee, and I am extra excited to be recording podcast episodes today.
• 0:10
  Speaker 1: So, anyway, every week, you know, my goal is to create a follow-up episode that's short, sweet, all about the action steps from this week's longer podcast, and the goal is really just to distill the larger episode down into some bullet points, takeaways, things that you can take action on immediately.
• 0:28
  Speaker 1: And I know this week's episode was kind of a little different than most episodes over here at the Efficient Advisor.
• 0:33
  Speaker 1: But, as you know, I am your host, libby Grywe.
• 0:36
  Speaker 1: I built a 100% referral only planning practice that I grew to seven figures as a solo advisor, all while working just three days a week and taking off 14 weeks a year, so that I could be a mom, a wife, a friend, a sister, a daughter and, frankly, a travel obsessed human.
• 0:50
  Speaker 1: And I'm here to walk alongside you and to show you how to do exactly the same and to help you take immediate action on the most important strategies for scaling, organizing and creating less stress and overwhelm in your business.
• 1:02
  Speaker 1: We are about to transform your practice, so move over exhaustion and get out of the way.
• 1:07
  Speaker 1: Advisor ADD.
• 1:08
  Speaker 1: It is time to take that one right next step to build a business and a life that you love.
• 1:14
  Speaker 1: So, as I mentioned, this episode was a little different than typical and I thought it was going to be kind of fun.
• 1:20
  Speaker 1: To you know, as I mentioned in the long episode, right, I share all of these ideas with you guys, right, and I and I'm no longer practicing I sold my practice in 2019 and there's all this new stuff that's really come about in the last four or five years that I am fascinated by and I'm like, oh gosh, these things are so cool.
• 1:38
  Speaker 1: I wish I would have had them back when I was running my financial planning business.
• 1:42
  Speaker 1: Holy smokes, this would have made it so much better, faster, smarter, cheaper, easier or whatever.
• 1:48
  Speaker 1: And, as I share all of these different ideas with you guys, my favorite part and one of the reasons I love doing one-on-one coaching and one of the reasons I love our group coaching is being able to actually watch you guys implement this stuff and get results.
• 2:03
  Speaker 1: Right, that's the part.
• 2:04
  Speaker 1: Just sharing ideas is fine and good and all, but if it's not actually moving the needle for people in their business, it's not an ROI for you, and the whole point of this is to make the industry better, right, all ships rise together.
• 2:17
  Speaker 1: I love financial services.
• 2:19
  Speaker 1: I see so many amazing advisors just struggling with the system side and if they could just get their arms around like how to manage the time, how to actually manage the building, the business side of it.
• 2:32
  Speaker 1: We're all typically pretty good at the sales side, the being the advisor, the doing the planning, the putting together the recommendations it's all that running a business, all that CEO stuff, that tends to be a challenge.
• 2:43
  Speaker 1: So when I see a great idea and I watch advisors implement it and like actually get an ROI on it, oh you guys, that is just what absolutely makes my day.
• 2:54
  Speaker 1: And it's no secret how much I love the whole concept of legacy letter.
• 3:00
  Speaker 1: If you go back to episode number 106, there's an episode called the Ultimate Value Add Low Difficulty, high Impact with Blake Brewer, and one of the things that I'm always looking for is what can advisors do that has a lot of value to their clients, a lot of impact, but doesn't require a lot of time, a lot of energy or a lot of money?
• 3:23
  Speaker 1: Right, a lot of energy or a lot of money, right, and some things.
• 3:27
  Speaker 1: You know, we always measure stuff on a value to effort, scale or difficulty to impact, and there's definitely things you're going to want to do for your clients that are high difficulty but also high impact.
• 3:35
  Speaker 1: The things that we're trying to avoid are the things that are high difficulty, low impact.
• 3:40
  Speaker 1: So when I met Blake and he shared with me what he was doing, it was like, oh, you guys, a low difficulty, high impact, value add that you can do for your clients?
• 3:52
  Speaker 1: Yes, please.
• 3:53
  Speaker 1: And and when I say high impact, I mean really, really relational.
• 3:58
  Speaker 1: So my friend John had emailed me and said, oh, I did it, oh, my gosh loved it.
• 4:02
  Speaker 1: And I said would you be willing to?
• 4:05
  Speaker 1: And by friend John, I mean I'd never talked to him in my life and now we're friends because he was so generous with his time and sharing his results.
• 4:12
  Speaker 1: Um, anyone who emails me, by the way, all of a sudden we're, we're best friends and it's not optional for you.
• 4:17
  Speaker 1: So if you email me, prepare to be listed on the besties list.
• 4:21
  Speaker 1: But John had emailed and I was like hey, would you be willing just to share some of the results that you experienced, because I never personally have executed a legacy letter.
• 4:31
  Speaker 1: Gosh, I wish I would have.
• 4:32
  Speaker 1: That would have been amazing and I can very clearly see the process or how I would do it in my business.
• 4:38
  Speaker 1: It's nice to actually hear from someone who did it right, who was in the trenches, who did the thing.
• 4:43
  Speaker 1: And John shared with us in this episode what he did, how he did it and how he'd do it differently.
• 4:50
  Speaker 1: And then, of course, because I can't help myself, I threw out a bunch of different ideas or things that I think would maybe augment the experience and got his feedback on it.
• 4:59
  Speaker 1: So let's dive into a couple of the bullet points.
• 5:02
  Speaker 1: One of the first things John mentioned was that it was really easy to do, so you could do this event virtually or you could do this live.
• 5:12
  Speaker 1: I think live would be crazy impactful.
• 5:15
  Speaker 1: I think you could host it as a luncheon or a dinner and then a lot time for people to actually get started.
• 5:22
  Speaker 1: John shared that he did it virtually.
• 5:26
  Speaker 1: And the thing about this Legacy Letter event and for those of you that are like, oh my gosh, what are you even talking about, libby?
• 5:30
  Speaker 1: It is gosh, there's no way to describe it.
• 5:34
  Speaker 1: I just want you to listen to episode 106 and then get your tissues out and cry and be impacted and imagine how this would be impacted.
• 5:43
  Speaker 1: But basically it's a way for you to connect with your clients and have them do something that's highly emotional, highly impactful and has absolutely nothing to do with their money or their finances.
• 5:55
  Speaker 1: I mean, it kind of does, and you could totally tie this into a year that you're doing theme-based planning or something along those lines, but like estate planning or something like that.
• 6:05
  Speaker 1: But it's just a sweet way to get your clients to write letters to their loved ones, their siblings, their spouses or their children and be able to leave an impacting legacy.
• 6:18
  Speaker 1: And it stems out of Blake's experience where he lost his father and his father had written him a letter and, oh my gosh, it just makes me want to cry, so even just thinking about it.
• 6:28
  Speaker 1: But check out the long format episode and John walks us through kind of what he did, how he did it, what his clients were saying.
• 6:39
  Speaker 1: Obviously they love it and they were super touched by it.
• 6:42
  Speaker 1: He actually shared a few really, really personal stories that he had clients share with him that I thought were just a great example of how you can show up in your clients' lives in a way that's so much more than just account numbers and money and I thought it was just really, really beautiful.
• 6:57
  Speaker 1: So, anyways, hope you guys enjoyed this episode.
• 7:01
  Speaker 1: Like I said, I wanna give you a couple bullet points here, but I feel like the episode was actually kind of short and just full of bullet points.
• 7:07
  Speaker 1: But I think the bullet point would be make sure you're being intentional about adding value to your clients and it doesn't have to just be related to specifically financial planning.
• 7:17
  Speaker 1: Find a way to integrate impact and emotion and this human side of money into your client experience and consider hosting a legacy letter event.
• 7:31
  Speaker 1: I've got the link for you in the show notes.
• 7:33
  Speaker 1: I've also got it out on the resources tab of the Efficient Advisor webpage and Blake has special pricing for us.
• 7:40
  Speaker 1: It's just you guys.
• 7:41
  Speaker 1: It's just beautiful.
• 7:42
  Speaker 1: It's beautiful.
• 7:43
  Speaker 1: I can't say that enough.
• 7:44
  Speaker 1: And go back and listen to that episode, number 106.
• 7:48
  Speaker 1: All right, hope you guys have an amazing rest of your week and just do it, get it on the books, plan it, don't overthink it.
• 7:57
  Speaker 1: Even John said he kind of threw it together at the last minute and had exceptional, exceptional experiences.
• 8:04
  Speaker 1: So I hope you guys have an amazing rest of your week and I will talk to you soon.