module 8: identifying target clients and building a...

Your Business Without Limits® © 2012 Pershing LLC. Pershing LLC, member FINRA, NYSE, SIPC, is a subsidiary of The Bank of New York Mellon Corporation. Trademark(s)

belong to their respective owners. For professional use only. Not for distribution to the public. The information contained herein, including any

attachments, is proprietary to, and constitutes confidential information of Pershing. It may not be reproduced, retransmitted or redistributed in any

manner without the express written consent of Pershing LLC.

A Comprehensive Modular Program

Module 8 Identifying Target Clients and Building a Marketing Strategy

1

Foundational Concepts

Major Activities and Decisions

Advanced Strategies and Implementation

Module 1

The Transition Phase

of Retirement and

Your Business

Module 2

Framework for

Retirement Income

Planning

Module 3

Income Resources and

Budgeting Basics

Module 4

Tapping Into Social

Security

Module 5

Expanding the

Scope of Investments

Module 6

Additional Strategies for

Generating Retirement

Income

Module 7

Optimal Withdrawal

Strategies for Tax-

Advantaged Accounts

Module 8

Identifying Target Clients

and Building a Marketing

Strategy

Module 9

Tying It All Together

© 2012 Pershing LLC. Pershing LLC, member FINRA, NYSE, SIPC, is a subsidiary of The Bank of New York Mellon Corporation. Trademark(s) belong to their respective owners. For professional use only. Not for distribution to the public.

The information contained herein, including any attachments, is proprietary to, and constitutes confidential information of Pershing. It may not be reproduced, retransmitted or redistributed in any manner without the express written consent

of Pershing LLC.

Module 8: Identifying Target Clients and Building a Marketing Strategy

Income Planning for Clients Nearing Retirement





Examine your existing client base

Develop a communications or outreach

campaign for existing target clients

Develop a creative prospecting campaign

for new client lead generation

Going to Work


Convergent Retirement Plan Solutions, LLC © 2012

3







Encourage

them to ask

questions

Be sure to

listen to

clients

Understand

their

emotional and

financial

needs

Trust is

important

Investors

often choose

financial

professionals

they like

Before You Begin:

Consider How You Will Make a Connection

Personality

Matters

4





Focus

on the

Essentials

> Age profile

– 55-70

> Projected net worth

– High-net-worth clients with assets

held away

> Client disposition

– Focus on strong relationships

> Retention considerations

– The defensive element of consolidation

> Open, honest communications

– Further building trust

Examine Your Existing Client Base



5





Examine Your Existing Client Base (Continued)

6

Findings from a 2011 study by McKinsey & Company

show that financial professionals may be missing

opportunities to capture assets due to misperceptions*:

Perception Reality

Investment options and fees drive

consumer decisions

Convenience and the ability to

consolidate assets are important

Events that “put assets in motion”

are rare and hard to predict

Each year, 20% of brokerage

clients experience an IRA rollover

event that can be identified through

simple management and mining of

customer relationship management

system data


*McKinsey & Company, Capturing IRA Rollovers: The Net New Money Opportunity For Wealth Managers, 2011






7

Pre-retiree clients in the 55-70 age range who:

>Are changing careers

>Have a change in dependent status due to

– College graduation

– Marriage

– Grandchildren

>Are selling a business

>Are downsizing a primary residence







8

>Divorce

>Boomerang children

>Assistance to aging parents

>Chronic illness

>Acquiring a second or vacation residence


Changes in family status are

common during this phase of life:





Introduce a new dimension—make clients

aware that you can help them with transition

and retirement income planning

> Call clients to meet you for a financial check up

> Use the sample letters included in the resources

section—or draft your own—to reach out to your

clients about specific topics like NUA or 72(t) or

Social Security

> Invite them to a seminar on the transition or

distribution phase of retirement planning

Do not assume

your clients are

aware that you

can help them

with retirement

income planning



Develop an Outreach Campaign for Existing Clients

9





> Network with professionals

– Other financial professionals

– Attorneys

– Accountants

– Life insurance brokers

– Bankers

> Stay looped in

– Conduct seminars or

engaging events

– Write for or advertise in

publications

– Offer educational assistance

to local employers

Develop a Prospecting Campaign for Lead Generation



10





Seminars and Events:

Not What They Used to Be

11


Events can be

a great way to

help enhance

relationships with

current clients,

position yourself

in front of qualified

prospects and

build important

mutually beneficial

relationships with

Centers of Influence

Times have changed and investors

want information from an authoritative source,

presented in a fun and dynamic way

The days of inviting prospective clients to

watch a simple lecture on the basics of finance

are long gone. Today’s investors want to be

a part of the experience





> Create awareness within

a specific community

> Build trust and establish

credibility

> Educate and inform

potential clients

A Prospective Client

Event can help you:

> Express your appreciation

for your clients, their

individuality and their

trust in you

> Remind them of your

value—keep yourself in

the forefront of their minds

> Provide a quality experience

for everyone involved

A Client “Connection”

Event can be a great

way to:

> Introduce yourself to Centers

of Influence in your

community

> Position yourself as a

valuable resource

> Offer the added benefit

of potentially providing

continuing education

(CE) credits

Relationship Building

Events with Centers of

Influence enable you to:

Why Host an Event?

12






> Fast replacing the traditional

dinner seminar event

> Give participants the

chance of interacting

rather than just listening

> Less formal, less

expensive format

Town Hall Meetings

> Although more challenging

to fill seats at these events,

some financial professionals

still prefer this format

> Possible topics include:

– Retirement Planning for

All Stages of Life

– Retirement Income Planning

Traditional Seminars

> Think about special activities

that are available in your

area—skiing, hiking, sailing,

theater, museums, arts

festivals

> Brainstorm ideas with your

staff, friends and family

> Unique events can

build goodwill and be

a PR bonanza

Creative and

Social Events

Types of Events

13






Creative Event Ideas

14


Informational and Educational

The Social Security Administration

provides free speakers on a very

timely topic

www.ustreas.gov provides speakers

on identity theft

Cooking class (or other adult

education class)

Nutrition expert

Fitness expert

Computer and/or social media expert

(especially good for older groups)

CPR class, disaster preparedness

seminar

Socially responsible investing

Green investing

Other speakers in your area who

speak to local topics (tax tips,

estate planning strategist)

Activity Focused

A dance (great for active widows

and widowers)

Wine tasting (you may be able to work

with a local liquor store or distributor)

Mystery Dinner Theater

Fundraising or donation event

(including donation of time such as gift

wrapping at the holidays or a toy drive)

An event with a Golf Pro

Fun Run for a Cause (walking teams

sponsored by your firm)

Bay or river cruise, with speaker,

dinner and dance

Behind the scenes of a museum,

theater, sports stadium

Some form of contest culminating

in a social event with awards

Special Occasions

Holiday light tour

Historical open house tour, local garden

tour, arts festival

Birthday parties for key clients where

they invite their friends (this can be both

a client and prospecting event, but keep

it subtle)

Tree trimming, caroling, food drive for

homeless shelter

Celebrity night (if you actually know

the celebrity, or work with a client

who does)—can be combined with

a charity fundraiser

Grand opening of a local business

Movie night (rent the whole theater for

a special showing, free popcorn, drinks

and candy

Theater or symphony night

http://www.ustreas.gov/





Details and Logistics

15

>Venue

>Length and frequency

>Timing

>Invitation delivery and

other planning details

>Follow up

Is it difficult for your

audience to travel? Consider hosting a virtual

event. Although it may not

always be as personal and

effective as an in-person

meeting or seminar, you

will save time and money,

as well as reduce travel

time for participants






Some Conclusions

16


Examine your existing client base

Develop a communications or outreach

campaign for existing target clients

Develop a creative prospecting campaign

for new lead development





Resources

17

Industry Resources

AdvisorOne U.S. Chamber of Commerce Directory

Journal of Financial Therapy Rotary International Foundation

Pershing Resources

Pershing’s Client Profile Sheet for Retirement Rollover IRA Mailing Insert

Retirement Planning Seminar Kit Sample Client Letters

Rollover IRA Brochure Retirement Calculators (also in the Retirement

Center under Tools in NetX360®)

Additional Resources

MoneyGuidePro™ NaviPlan

Wealth2K® Guided Choice

LifeYield®


http://www.advisorone.com/retirement?ref=nav

http://www.uschamber.com/chambers/directory/default

http://www.jftonline.org/

http://www.rotary.org/en/Pages/ridefault.aspx

http://www.pershing.com/media/Client-Profile-for-Retirement-Worksheet_Pershing.pdf



http://www.pershing.com/media/Rollover-IRA-End-Client-Mailing-Insert_Pershing.pdf

http://www.pershing.com/media/Retirement_Planning_Seminar_Kit.zip



http://www.pershing.com/media/Sample_Client_Letters.pdf



http://www.pershing.com/media/Rollover-IRA-End-Client-Brochure_Pershing.pdf

https://www.advisorrollovernetwork.com/pershingopenaccess/default.aspx

http://www.moneyguidepro.com/Default.aspx

http://www.eisi.com/en/products/us/select/features.shtml

http://www.incomeforlifemodel.com/

http://www.guidedchoice.com/

http://www.lifeyield.com/

http://www.fpanet.org/





Important Disclosure Information

> This presentation and the information or opinions contained herein is confidential and has been

prepared by Pershing LLC for informational purposes only without reference to any specific person's

investment objectives or financial situation and must not be forwarded, displayed or distributed to

any other person or reproduced in any manner whatsoever. The presentation and the information

are for reference purposes only and are not intended to be a recommendation with respect to, or

solicitation or offer to buy or sell any particular security, financial instrument, or investment product,

or to participate in any particular trading strategy in any jurisdiction in which such offer or solicitation,

or trading strategy would be illegal. Pershing LLC and its affiliates do not intend to provide

investment advice through this presentation and do not represent that the securities or services

discussed are suitable for any investor. Pershing LLC and its affiliates do not, and this presentation

does not intend to, render tax or legal advice.

> Tax laws are complex and subject to change. The information contained herein is based on current

federal tax laws in effect at the time it was written. Pershing LLC and its affiliates do not provide tax

or legal advice. The presentation and information provided herein were not intended nor written to

be used for the purpose of avoiding tax or penalties that may be imposed on the taxpayer.

Individuals are urged to consult their tax or legal advisors to understand the tax and related

consequences of any actions or investments described herein.

> © 2012 Pershing LLC. Pershing LLC, member FINRA, NYSE, SIPC, is a subsidiary of The Bank of

New York Mellon Corporation. Trademark(s) belong to their respective owners. The information

contained herein, including any attachments, is proprietary to, and constitutes confidential

information of Pershing LLC. It may not be reproduced, retransmitted or redistributed in any manner

without the express written consent of Pershing.


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