Post on 23-Jun-2015
description
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Rick’s Recap
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Today’s Objective
Using stories
and analogies to keep it
simple
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What’s the most popular flavor of ice cream in the world?
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Your job is to influence and persuade. The higher up the economic chain you dare to go, the more money you will make.
If everyone understood everything you said, you would be the richest person on earth.
Become an effective storyteller. The whole world loves a story teller.
Keep it simple. Simple is beautiful. Simplistic is naïve.
Vanilla, vanilla, vanilla
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Vanilla
• I believe more in the scissors than I do in the pencil. Truman Capote
• Broadly speaking, the short words are the best, and the old words when short are best of all. Winston Churchill
• Storytelling is the most powerful way to put ideas into the world today. Robert McAfee Brown
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Let me tell you a story about Camden, Maine
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Moral?
• I understand that my definition of outstanding service is not as important as your definition of outstanding service
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Let me tell you a story about a day in the life of a typical American
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Moral? A share of stock is not a lottery ticket.
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Let me tell you a story about my role as your Financial Advisor
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TopTier Advisors
Make Excellent Use
of Stories And Analogies
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Morgan Stanley’s website
•“In general, the longer a bond's maturity, the higher its yield. Longer-term bonds are exposed to more market volatility and price fluctuations prior to maturity than shorter-term bonds. Thus, typically long-term bond investors are compensated with higher yields in exchange for this market risk exposure.”
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My friend Bim
•“You date a CD. You marry a bond.”
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Investopedia.com
•“Identifying areas where the price of an underlying asset has been unjustifiably pushed to extremely low levels is the main goal of many technical indicators such as the relative strength index, the stochastic oscillator, the moving average convergence divergence and the money flow index.”
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My friend Paul
•“As the stock market is being pushed lower and lower by bad news, picture a beach ball being pushed underwater. The further you push it down, the higher it goes when you let go.”
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Wells Fargo’s website• Organize your retirement resources - If you have a number of
retirement accounts at multiple financial institutions, it may make sense to consolidate them.
• Understand your income needs - Be sure to consider increasing costs (due to inflation) when you figure out how much annual income you will need.
• Manage your risk - Saving a portion of your assets in stocks may provide the growth potential necessary to outpace inflation.
• Create your retirement paycheck - Consider the effects of inflation, market volatility and income taxes when you’re deciding how to withdraw funds.
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My mentor
• “Did you pay more for your last car than your first house.” If so, that’s why you need to buy equities.”
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Buying Low
The Acapulco cliff divers
Tuna Fish
Brick through the window
The sale at Nordstrom’s
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Diversification
Fifty pencils
90% in one stock?
Women’s shoes
Three lanes of traffic
Three fire trucks
The tool box
Not just a pencil
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Dollar Cost Averaging
Investing your money is like buying seasonal clothing
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Fees and Commissions
$250 fee from doctor
Commission conscience or results conscience
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Gathering Assets
You can’t have two accounts
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“I want to think it over”Sixty miles in one hour
Tailor’s measuring tape
Draw a clock
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Long Term PerspectiveDOB, HS graduation date, wedding date
Strawberry plants
Driving from San Francisco to New York
Did you brush your teeth today?
If you’re 49 years old . . .
The Litany of Disaster
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Managing Client Expectations
The beach ball under water
Q + T & D = R/W
10% = one stride
The textile mill owner
If cheaper, shall I call you?
Soar & plunge
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Overcoming Objections
There are only three objections you can get
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Tax Advantaged Investments
Barack Obama cutout
The perfect investment
Paper or plastic
Tree too close to the house
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Why do I Need You?
Airline pilot story
Kernel of corn
Compass and map
Only three people can make a decision
Monthly haircuts
Buying groceries at random
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My Next Session
•Prospecting ideas
•Moving past unprofitable clients
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Today’s Homework
Send me your
best analogy
!!