Ep 241: Scripting A "Values-Based Financial Planning" Business Development Process with Bill Bachrach
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 10 August 2021
⏱️ 110 minutes
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Summary
Bill Bachrach is the Chairman and CEO of AdvisorRoadMap, a platform that provides training and mentorship to financial advisors to help them better attract and communicate with their ideal clients. Bill is also the creator of the values-based financial planning framework that puts a client’s values and goals at the center of the financial planning conversation, and the creator of the new famous question: “what’s important about money to you?”
Listen in as we dive into how Bill’s famous question gives advisors a powerful way to start meaningful conversations with clients and gives prospects the opportunity to communicate the value that they’re looking for from a financial planning relationship. We also discuss in depth how Bill’s framework helps advisors build more trust and relevance with their clients by teaching them how to listen more, say less, ask better questions, and answer questions more effectively and confidently.
For show notes and more visit: https://www.kitces.com/241
Transcript
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| 0:00.0 | Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with financial planner, |
| 0:08.4 | speaker and consultant Michael Kitsis to hear stories of how leading financial advisors |
| 0:13.6 | navigated the inevitable challenges that arise on the path to success and get insight from |
| 0:18.9 | leading industry consultants about how to break through to the |
| 0:22.1 | next level in your advisory business. And now here's your host, Michael Kitsas. |
| 0:27.7 | Welcome, everyone. Welcome to the 241 episode of the Financial Advisor Success podcast. |
| 0:33.6 | My guest on today's podcast is Bill Backwreck. Bill is the chairman and CEO of Advisor Roadmap, which |
| 0:38.8 | provides training and mentorship to help financial advisors better attract and communicate with their |
| 0:43.5 | ideal clients. What's unique about Bill, though, is that as the creator of the value-based |
| 0:48.6 | financial planning framework and father of the now famous question, what's important about money to |
| 0:53.1 | you, Bill pioneered a repeatable process to put client values and goals at the center of the now famous question, What's important about money to you? |
| 0:56.1 | Bill pioneered a repeatable process to put client values and goals |
| 0:57.6 | at the center of the financial planning conversation |
| 0:59.7 | at a time when the industry |
| 1:01.0 | was still focused almost exclusively on product sales. |
| 1:04.4 | In this episode, we talk in depth about |
| 1:06.5 | how bills, what's important about money to you question, |
| 1:09.3 | not only gives advisors a powerful way to start a meaningful conversation, but to also get prospects an opportunity to communicate the value that they're seeking from a financial planning relationship. |
| 1:19.4 | How that opening question is just part of Bill's script for having values conversations with prospects to create a foundation of trust and ultimately helps advisors, as Bill puts it, |
| 1:28.0 | to rescue prospects from their current advisors. And how Bill uses his values roadmap as a deliverable |
| 1:34.4 | to visually show prospects the steps that they can take to fulfill their most deeply held |
| 1:39.5 | values and achieve their most important goals. We also talk about Bill's five prospect conversations, each of which occurred during the first |
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