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Category: Loyalty · 4 min read

Help Your Clients Find Their Financial Purpose

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on September 12, 2019

author profile photo

on September 12, 2019

Financial professional meeting with clients

Whether you realize it or not, you are operating under a purpose. Your purpose may be to provide for your family, or maybe it’s to help other people. Whatever it may be, your purpose helps guide your daily business decisions and keeps you focused on the big picture.  

The same is true for your clients. They need a financial purpose. They need an overall goal to work towards, so they can stay focused on making sure it happens.  

Think about it in sports terms for a moment. The short-term goal for the teams may be to win the game, but their long-term purpose is to win the championship and be crowned the best team. All season long, they’re working towards reaching the championship by consistently preparing. 

Help your clients win their retirement championship by helping them define their financial purpose. Here are a few ways to get you started.  


Start by Creating Goals 

If purpose is the overall picture, goals are the close-up, zoomed in version. They are the necessary steps you take that help fulfill your purpose. So, as you seek to find your clients’ purpose, start by defining their goals.  

It may be helpful to start by asking your clients to describe their vision for their retirement. What do they want to do? What do they want to achieve? Will they be working part-time? What will they be doing with their free time? Do they want to vacation, volunteer, or take up new hobbies? This can influence their financial goals and help you make their retirement vision a reality. 

But don’t stop there. You should also ask them why they are seeking help and why they want to plan for retirement now. Asking them this may uncover a deeper need or desire that you can help them achieve. They may want to provide for their family, enjoy retirement as much as possible, or not have to think about it anymore. Whatever the case, the “why” can help you more accurately find a solution that fits their situation and reveal a bigger purpose for their retirement. 

From this, identify several financial goals in order to fulfill their retirement wants and needs.  

Help your clients win their retirement championship by helping them define their financial purpose.

Think Holistically 

It also helps to think holistically. Holistic planning is an all-encompassing approach that’s focused on achieving clients’ retirement and financial goals. Depending on your certifications and licenses, it could include insurance, investment management, debt management, taxes, employment benefits, Social Security strategies, retirement strategies, and estate planning. And what you’re not licensed for, bringing in another professional that is licensed can also be beneficial.  

Basically, holistic planning differs from the standard way of doing things in how you treat your clients. With a holistic approach, you ask them about their goals for retirement, their wants and needs, and their lifestyle, and create a strategy that draws on a broad range of products and services to help get them there. In other words, you help them find their purpose for their finances and retirement. 

This may mean you change how you’re currently running your initial discovery meetings with clients and prospects. Make it about them, and not about what you can offer them. Ask lots of questions that will get them to open up about what they want their retirement to be like, and you’ll be on your way to offering them a holistic approach to their retirement strategy. 

Holistic planning is also important because it helps your prospects and clients think about the long term. Instead of focusing on how old they are right now and how much they make right now and how much they have saved right now, you’re having them think about their future. Now they’re thinking about what they want their retirement to look like. Now it’s feeling more real to them. Now they’re realizing how serious it is to be able to have enough money for all of retirement and to achieve the lifestyle they want.  


Include Charitable Giving 

Another way that your clients can find their purpose is through their giving. Many people continue to give to charities and causes after they retire, so asking them what charities they currently donate to, and if they plan on remaining an active donor, can help them put a higher value on their retirement income. It can put into perspective that their retirement savings and finances are important to keep contributing to meaningful causes, and give them a reason for solid retirement planning now.   


A Purposeful Life 

Keeping your prospect and client meetings solely focused on their finances can be effective, but linking it to a bigger purpose can help it all click. It can show that your services and help can lead to living the life and retirement they want. So, make your meetings point to their purpose, not just planning. I like how motivational speaker and best-selling author Bob Goff says it: “Don’t settle for a plan; know your purpose.” Give them a greater reason for figuring out their retirement now, and you may have a greater chance at turning them into lifelong clients.  


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Written By

Mark Williams

President and CEO

Mark Williams is the President/CEO of Brokers International. Over his more than 25 years of financial services experience, Mark has been both a producing independent agent in the field and a home office leader consulting to agencies and field marketing organizations. Currently, Mark is focused on the future of the insurance industry, from the disruptions of InsurTech and robo-advisors to the changing demographics and needs of customers. He also is an avid mentor, helping financial professionals navigate the industry.

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