How to Use Asset-Map for Business Development (David Leo, Advisor Perspectives)

[This article was originally published on Advisor Perspectives]

To use Asset-Map for business development, your first step is to identify a proponent of Asset-Map so that they use it and experience its effectiveness and value. The question is how to get to that point.

Build client support using Asset-Map

Look at using Asset-Map for business development as a program or campaign, one that takes proper planning and preparation to get the results you are seeking, business growth via new clients and assets. Big opportunities require big efforts.

The Asset-Map reports you build will all be the same in structure and personalized in content. The map below shows the household’s members and entities at the top of the report and the financial assets, liabilities, cash-flows, and insurance policies for each of the primary members and spouse on the left and right side of the report respectively with joint assets below the avatars of the couple. The single-page map shows everything about the family’s financial life like they have not likely seen before.

Steps for using Asset-Map for business development

In each business development approach, the objective is to share a comprehensive advice experience that engages clients from start to finish and empowers them to make better decisions by getting on the same page – literally.

Asset-Map reports are based on the adage that a “picture is worth a thousand words.” What may take 20 pages to communicate with many planning experiences can be compressed to a couple of pages that your clients will appreciate and hopefully love. An Asset-Map report is a visual experience that displays all household members, entities, financial assets,

liabilities, cash-flows, and insurance policies provide an advisor with a straightforward way to quickly address gaps in a financial plan as well as uncover new opportunities to elevate their clients’ condition.

In summary

I have outlined the best eight business development approaches using Asset-Map as a tool. For the past 20 years of working with financial advisors, I have used these same eight approaches in a similar fashion with and without Asset-Map. Asset-Map offers another level and a natural entry point for FAs to help clients with their financial well-being.

To read the article, “How to Use Asset-Map for Business Development” by David Leo from Advisor Perspectives, click here.