Zero to $1 Million in 60 Minutes - How to Help Your Clients Dramatically Accelerate Their Wealth With Minimal Effort, Minimal Sacrifice and Zero Incremental Risk
Includes a Live Event on 09/20/2022 at 12:00 PM (MDT)
Personal finance is often portrayed as a zero sum game where clients can either spend heartily and enjoy life now, or endure a lifetime of sacrifice to enable a brighter future and retirement. Meanwhile, advisors are facing increased focus on fees and competition from improved DIY tools, robo-advisors, and discount brokerage and fund companies. In addition the inter-generational wealth transfer puts an advisor's client base at risk as their heirs typically leave their parent's advisor. Through competitive messaging, clients start to believe that they can grow their wealth faster without an advisor. This is clearly mistaken.
Imagine a new tool kit for advisors that:
1. Showed clients how to free up more cashflow for investment with minimal effort or sacrifice.
2. Required a minimal time investment from the advisor
3. Demonstrated how powerfully those increased contributions could accelerate their wealth
4. Engaged the client in their wealth building to increase their commitment to, and relationship with, their advisor
5. Allows increased wealth building at a given client income level with no incremental risk
6. Adds a new valuable offering to the client.
This session is about a simple approach that does exactly that. It uses concepts from Gordon's book, Cashflow Cookbook, that outlines more than $13,000 of monthly household savings ideas. The concepts are presented as complete financial "recipes" that provide a methodology to save on every kind of recurring expense. The approach means that the client can enjoy a robust lifestyle while significantly increasing their monthly contributions to their advisor. In the presentation, Gordon outlines several examples of simple cost reduction strategies that are applicable to typical client demographics and the effect on client wealth over time. The session also lays out a playbook of how to integrate the concepts into the annual plan cycle with the client.
1. Work with clients to free up an additional $500 to $1,000 of monthly cashflow with minimal effort on the part of the client or the advisor
2. Integrate these cost reduction strategies and the resultant wealth acceleration into the annual client planning process
3. Add significant value to the client relationship to increase satisfaction with the advisor, reduce churn and increase client referrals
Gordon Stein BESc, MBA, CSC, CFEI
Professional Speaker, Blogger and Author of Cashflow Cookbook
Gordon is an international keynote speaker, blogger and author of Cashflow Cookbook - a different kind of personal finance book that includes financial "recipes" that show readers how to free up more than $13,000 monthly. He speaks to clients of financial advisors to help them release incremental cashflow to invest, adding value to the advisor/client relationship and accelerating their wealth building.
Using the concepts from Gordon's talks, a typical investor can add more than $1 million to their portfolio at retirement , with minimal effort, minimal sacrifice and no incremental risk.