MDRT Annual Meeting 2018

Helping Your Clients Spot Their Greatest Asset

An Irish adviser and international speaker shared an idea on how advisers can increase business by helping clients identify what their greatest asset is.

Anthony Matthews Jones

Anthony Matthews Jones of AMJ Financial was one of the presenters of a focus session at MDRT’s 2018 Annual Meeting held in Los Angeles in June.

Jones has been an MDRT member for 11 years and a financial adviser for 20 and explained why he is a part of MDRT, telling the audience that by the end of the event he hoped to be “…motivated to go back to Ireland, having met some friends, and made new ones, all there to help me transform my business, excel at what I do, achieve greater results, and be super motivated while I do it. That is why I am here.”

He then touched on the value of being part of a team and put the question to his listeners, “Who is your team?”

“One thing is certain: Greatness is not achieved alone.”

He added: “One thing is certain: Greatness is not achieved alone. Olympic medals, world records, Court of the Table, or Top of the Table performance at MDRT are not achieved alone. They are achieved through learning from our mistakes, listening to advice, talking to our peers, and creating a team of people around us whom we can trust and achieve great things with their help, motivation, and guidance.”

Further on in his presentation, Jones shared one of his sales ideas called The Greatest Asset, aimed at helping advisers sell more life insurance by way of helping the client realise that they, the client, are in fact their greatest asset.

Jones starts by drawing the prospects or clients on the centre of a piece of paper.

He then adds their business or income into the picture, plus any staff they employ and the company turnover.

“Now I ask the clients what they spend their income on in pursuit of their standard of living,” Jones explains. “Then I tell the clients that this picture is unique to them. It is their unique Circle of Standard of Living. No one else has this exact circle, and I ask if we are sure we have included everything. Once my client agrees, I will move on to the greatest asset.”

He then asks the client: “I want you to point to or just tell me, on the page in front of you, what is your most valuable asset in monetary form?”

Jones says 90% or more clients will answer their most valuable asset is their house or business. “And this is exactly what I want them to say because we can now go to work.”

“Once the clients have identified that maybe the house or business is their greatest asset, we need to make them see differently through asking the correct questions and manipulating the picture to reflect their answers. Remember, the whole purpose of this picture is to make clients realize for themselves that the greatest asset now, and in the future, is themselves. We cannot tell them this, though, as they have to see it and realize it for themselves,” said Jones.

Using the picture on the paper, he asks them the following questions:

  • Would the business exist without you? No? Now you can cross it off with a big X.
  • Would your income exist without you and your business? No? Cross off income.
  • Would the house or payments on the house exist without you? No? Cross off the house.
  • Would you enjoy two holidays a year without you and your ability to run your business and your income?
“By this time, the client has seen for himself what life would be like for him or his family without income.”

He keeps going until almost everything off the list is crossed of except their kids.

“I let the picture in front of them digest, and when I think the time is right, I will ask my first question again, “Now, Mr. Client, can I ask you my first question again? What on this page is your greatest financial asset?”

He said at this point the client answers, “Me!”.

“By this time, the client has seen for himself what life would be like for him or his family without income. The client should now be asking you for solutions,” said Jones.

“I believe that sharing our ideas through study groups and organizations like MDRT will make us all better advisors and better people,” concluded Jones.

“We are in the right place, at the right time. Let’s raise ourselves up to new heights.”