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The client did not want to meet because all of his
money is in his 401K with IBM and he does not plan on retiring until
July of this year.
Chad said, “Would you like to take advantage
of in-service-withdrawal.”
Client, “What’s that?”
Chad, “Do you want to protect your 401K now?
Client, “Yes, but I can’t take my money out
of my 401K until I retire.”
Chad, “Who administers your 401K plan?”
Client, “Fidelity”. (Chad Googles “Fidelity
401K customer service number”)
Chad, “Let’s call Fidelity and double check.
Hold on while I get them on the phone.” (Client was not asked if he wanted to call Fidelity. Key
point here. Be assumptive!)
While the phone is ringing he tells the client to
identify himself when they answer and then give permission for him to
ask some questions.
Fidelity answers and client does as Chad
instructed. Chad verifies that the client has $236K in 401k and
that the client is eligible for a 100% in-service withdrawal.
After disconnecting from Fidelity Chad asks,
“So, looks like we can go ahead and protect your retirement. I
am going to be in your area on Tuesday. Does afternoon or evening
work best for you?”
The appointment was booked.
Now pay attention to this!!! No product has
been discussed or explained. Has the client bought anything yet?
Technically no. We still have to do a fact
finder and show the client how his retirement would benefits from our
product but the client has bought into the idea of protecting his retirement.
Sell the idea, not the product!!!
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