Isn't it exciting when you discover other buckets of IRA money elsewhere?
This situation is ripe for an IRA Rollover!
When you have correctly used the other CAPS™ Skills during your conversation to discover the prospect's needs, you can close with confidence when you hear a buying signal. The CAPS™ Closing Model tells us to:
- Expect the prospect to buy!
- Summarize important benefits your prospect has accepted.
- Ask the prospect to buy now.
Your Summary and Close Might Sound Like This
Mr. Jones, you told me you don’t like having to deal with all the paperwork from several different companies. That is frustrating and we can consolidate your accounts so you don’t need to deal with unnecessary paperwork any longer. You’ll benefit from this strategy because it reduces the amount of unproductive time spent monitoring your investments.
You also said that it bothers you that no one from the other companies is contacting you to review your investments. By consolidating your accounts with me we make sure they are allocated to investments that match your risk and return expectations. You benefit because careful asset allocation is a proven way to help assure you’ll accumulate the money you need to reach your retirement goals.
Is there any reason you wouldn’t want to consolidate your accounts today?
To process the rollover I’ll need you to indicate your approval right here..
Why Summarizing is So Powerful
- This shows the prospect you have heard and understood what is important to them. Also it leaves no doubt in the prospect's mind that your recommendation is in their best interest.
- This is another opportunity to reinforce your prospect's positive feelings and attitude as you relate the features of your strategy or product to benefits for the prospect.
- You will convince your prospects that you have been listening to their remarks... that you understand them and know what they want to accomplish, and that you are offering what they need to help them achieve their financial goal.
The Fun Does Not Stop with the Rollover
Now that you have closed the client on the rollover you can continue to guide the conversation toward the next piece of the client’s financial plan.
As advisors it is pretty common for us to spot easily 2 or 3 aspects that need addressing in the client’s financial picture. In this case, Mr. Jones and his wife are woefully underinsured. As their advisor, your job is to bring up the issue for discussion. You might use a CAPS™ Transition like this one:
Your decision to consolidate your IRA holdings into one account is a wise move because it helps you accumulate the money you need to have a reliable stream of retirement income. I find that most couples who rely on two incomes to live, and save for the future, are concerned about having enough money for retiremen,t if either income stopped because of premature death.
[Pause to evaluate the attitude of the prospect]
My company offers several types of life insurance protection that can guarantee the success of your retirement plans. You benefit because even if premature death occurs the surviving spouse would have the money they need to retire with dignity.
Using your CAPS™ training assures consistent results year after year because the skills help you ethically persuade more prospects to make wise financial moves that help them achieve the outcomes they want.
Make it a great day!
