Fee Based Business In a Financial Planning Practice.

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Fee Based BusinessIn a Financial Planning
Practice.

• Presented by Melissa Shaw, CFP
• NACUSO 2001 Annual Conference
• May 8-11, 2001 Las Vegas, NV

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The Financial Advisor

• Building on the Relationship.
• Growing with your clients for years.
• Helping people make better decisions about money!

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A Credit Union is like family.

• You can trust them.
• Theyll take good care of you.
• You can get your questions answered.
• Your customers want to do business with you!

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Playing The Money GameThe Rules to the Game.

• Get Married.
• Own a home.
• Have an Emergency Fund.
• Protect the Assets you have and Accumulate more.
• Raise a family.
• Save for Education and Retirement.
• Be Financially Independent. Retire.
• Be Happy, Healthy, and Pass Wealth On.

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The Money Game is more than just than making
money.
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Where does it all begin?

• With Cash Flow!
• Where does the money come from and where does it
  go to?
• Do you make more than you spend?
• The goal is to turn cash flow into Net Worth over
  the years.
• Financial Independence is when their Net Worth is
  the Goose that lays the Golden Eggs!

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Taking Charge of Your Financial Life

• Spend less than you make.
• Save a little every month that you can.
• Protect the assets you have while you work to
  accumulate more.
• The Money Game is always changing as is your
  own life. Embrace change.

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How do you keep score?

• You look at the Balance Sheet also known as the
  Statement of Financial Position.
• Its your report card.
• Its the State of the Union report in a
  marriage.
• Protect the assets you have while you work to
  accumulate more.

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Communication is key...

• Not spending everything you make.
• Understanding the 4 kinds of savings.
• 1. Emergency Fund 3. Save for a Goal
• 2. Save to Spend 4. Retirement
• Being able to talk about goals, dreams and
  desires.

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Your Family Mission Statement
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Business within the Credit Union

• Commission earned on products sold.
• Trails
• Rewrites
• The Challenges of Rolling Business.
• Fee Income

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The Registered Investment Advisor

• Assets Under Management
• Financial Counseling Services
• Portfolio Analysis and Review.
• Fee Planning Services.

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Working within the Credit Union Branch.

• Access to clients on a daily basis.
• Solving problems.
• Marketing.
• The 80/20 rule.
• Its easier to cream off the top.
• How do you get to the bottom 80?

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Through Marketing Efforts.

• Account Stuffers
• Web Site
• e-commerce
• Seminars
• Referrals from happy clients!
• Professional Relationships with advisors.

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Financial Planning is a Process, Not a Product.

• The 6 Areas of Financial Planning
• Cash Flow Analysis
• Risk Management and Insurance
• Investing for Wealth Accumulation
• Tax Planning
• Retirement Planning
• Estate Planning

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Building your financial house...
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The Financial Counselor Notebook

• A Personal Financial Organizer
• Lends Perspective to their whole financial
  situation.
• Encourages communication.
• Provides a means for education worksheets.
• Helps to establish where they are now, so we have
  a baseline to measure from!

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A Marketing Plan

• Customize the Financial Counselor Notebook to
  your Credit Union.
• Develop a marketing plan to encourage customers
  to Take Charge of their Finances.
• Customers that purchase notebooks can be serviced
  at a local branch or referred back to a planner
  through the Internet.

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Fee Based Business

• Customers dont care how much you know until they
  know how much you care.
• The Financial Counselor Notebook system is not a
  financial plan but it is the beginning of one!
• Customers feel better about their finances when
  they go through this process. Your job is made
  easier when you use it too!

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Compliance Issues

• The Financial Counselor Notebook has been
  reviewed and approved by the NASD.
• You need to have an RIA in order to do fee
  planning work. I charge a flat fee for a service
  I perform with clients.
• We apply for the job of asset management and
  product implementation.

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Making Money...

• The Financial Counselor Notebook is an easy tool
  to incorporate to systems youre already using.
• I average 2500 in fees and commissions from each
  client I work with through the Financial
  Counselor Notebook process.
• E-commerce www.FCN.com can be created custom
  for your web site.

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Thank you for your time! I hope it was helpful!

• Melissa Shaw, CFP
• Jones Associates Financial Insurance Services,
  Inc.
• email Melissa_at_FCN.com
• www.FCN.com
• 800-729-6344
• 24411 Ridge Route Dr., 115
• Laguna Hills,CA 92653

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Marketing Opportunities...

• 100 Custom Notebooks
• FCN Software Program
• Web Site customization
• Account Stuffer
• Marketing Easel
• Retail Brochure

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Working the plan...

• 10 Clients generating 2500 in fees and
  commissions is 25,000.
• 100 Clients generating 2500 is 250,000.
• Do you have an RIA?
• Can you charge fees for financial counseling?
• Are you prepared to help manage assets?