Tools to Double

by Bill Good Marketing on February 22, 2016

 


If you ever needed some tools in your kit …
The time is NOW!

Your plans to grow your business got whacked by market performance this year. No one, especially you, wanted to sign up for an income reduction plan.

Now you need to play catch up before you can grow.

And like it or not, there is a HUGE WHACK coming your way unless you have substantially converted to fees. DOL/IRS regulations will most likely force you to convert any client with an IRA Rollover to fees. Don’t want to do it? Tough.

So to grow your business, you have to play catch up and THEN deal with a forced conversion to fees.

What are you going to do about it?

How about attend the annual BGM Users’ Conference, Marriott Atlanta Buckhead, May 19th and 20th.

Marriott Atlanta Buckhead
3405 Lenox Rd. NE
Atlanta, GA. 30326

Book your hotel room though us for a $189 (plus tax) per night rate.

To book your attendance call Jill Olsen 800-678-1480 x1298 and ensure you get the early bird price.

Topic: “Tools to Double”

To understand how the “Tools to Double” work, follow this scenario:

The partnership of James Q. Sellers and Susan A. Brokerman at Reliable Securities started 2015 with $50M AUM. Because they had avoided the energy sector, asset gains from investment performance didn’t take a hit but were modest at $700,000.

Existing clients added $2.1 million. They picked up another $2.1 million from referrals. However, clients withdrew $3.2 million and, sadly, they lost 2 big clients-one moved to Hawaii and wanted a local advisor and another couple was, tragically, killed in an automobile accident. The kids took the money from the account and ran. The $2 million life policy never hit the account. So it cannot really be considered an asset loss.

What happens if we apply just a few “tools”?

Referral Marketing:
Sue and Jim have 322 clients. In 2015 they received six referrals. Four of them became clients. Average AUM per new referral client: $500,000.

What if they had deployed just a bit of the BGM Referral Strategy? Best practices for this strategy is: 15% of your clients provide a referral and 60% of them close. Sue and Jim’s 6 referrals amount to 2% of clients providing a referral. Not good. What if we can ratchet that to 4%? Just nudge it a little. Closing average stays the same at 60%. The $2M new assets from referrals becomes $3.6 M.

They are in the black.

Let’s add another tool: A bullet proof sales presentation—an amazing presentation from one of the speakers.

What if instead of closing 60% of their referrals, they go to 75% by improving their presentation?

The $3.6 million from referrals is now $4.5M. They move from 1.4% net loss to a 3.4% net gain. Total AUM is up $1.7M.

Now let’s add another tool: Let’s assume Sue and Jim really see the danger to their business of clients dying and heirs taking the money and running.

They implement the Gorilla Strategy “When Clients Die, Assets Fly.” They identify every beneficiary. By applying an addition to this strategy developed by Mike Ross (one of our speakers), asset losses are cut from 85% when the last client dies to 10%.

The $1.4 million loss from the tragic client death and the $2 million life policy adds $3.4M.

That 1.4% loss is now a 10.2% gain. Hmmm.

Let’s add yet another tool. You go whole hog on identifying the high net worth people your clients know that you want to know. You schedule and deliver client/guest events. Your clients not only bring guests, but some of them bring exactly the people you want to meet. You have the optimum number of clients and prospects at these events. You open four new clients with an average of $500K.

Now you are purring along at a 14.2% growth rate.

Let’s add another tool.

You decide to do seminars. Topic? (You will learn THE HOT TOPIC when you attend Users’ Conference. Chad Henry will tell you. He used that topic in a middle class town to bring in $28 million last year.)

Sue and Jim schedule four mailings to produce eight events. Their statistics are right in “The Seminar Success Zone” and produce 23 new clients and a total of $9.2M in new AUM. It cost them about $16K. That $9.2 million will generate a recurring income stream of $92,000. How many of those streams would you like to buy?

Remember that 1.4% loss? It’s now a 32.6% growth rate. If we assume we have $5 million in losses so far this year and need to recoup that, their 32.6% growth rate is cut to say, 22%.

Applying the “Rule of 70,” Sue and Jim are now on track to double in a bit over 3 years.
That’s how tools work—a little bit here. A little bit there.

Changes in Users’ Conference Format

For the last two years, we have brought in a team of professional videographers. The videos are so good people are now telling us, “I don’t need to do all the travel. I’ll wait and order the videos.”

Guess what? The videographers are “muy expensivo” … as is the Buckhead Marriott, and coordination for this event so …

The old plan of staying home and ordering the videos later, may work for you … not so much for us.

The new plan is: Early bird enrollment is $1,495. If you attend, you get the videos. If you don’t want to attend, you get the videos. Same price. Just let us know if we will enjoy the pleasure of your company.

We are currently navigating through compliance. Speakers will be officially announced soon.

You can count on:

  • Your host and Head Gorilla
  • Chad Henry
  • Mike Ross
  • David Dickie

One very exciting presentation winding its way through compliance is the “Bullet Proof Sales Presentation.” I have a copy of this presentation. What is it worth to increase your closing percentage by 15-20% (or more!)?

Know this for certain: You will go home with some tools you can use to get you on the “double path.”


When: May 19th and 20th
Where: Marriott Atlanta Buckhead, 3405 Lenox Rd. NE
Atlanta, GA. 30326


See Early Bird pricing below. Tickets increase in price
after March 18th, 2016.

To book now, call Jill Olsen at 800-678-1480 x1298!

Early Bird Pricing
Advisor or Ticket #1
$1,495*
Assistant or Additional Tickets
$795 each
Room Price
$189/person/night**

*Ticket prices will go up $200 after 3/18/16.

**Hotel will require one night lodging paid in advance. Your card will be charged by the Atlanta Buckhead Marriott on 4/22/16.


Best,

Bill Good


Copyright 2016. Bill Good Marketing, Inc. All Rights Reserved.

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6891 S. 700 W. Ste. 100 Midvale, UT 84047
(800) 678-1480

 

 

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