Larkspur Data

www.larkspurdata.com

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Sales Idea

The following script can be used to convince a client or prospect to discuss diversification strategies.

Diversification Script:

Advisor:  Mr. or Ms. Client/Prospect, how many times have you been stuck in traffic?  More than you’d like to remember, I’m sure.

Client/Prospect:  Absolutely.  I face it every day going to work.

Advisor:  When you’re stuck in traffic on the highway, do you ever look for a lane that’s moving faster than yours and find when you get there, you’re stopped and the lane you moved from is moving again?

Client/Prospect:  That happens to me all the time.  It’s pretty frustrating, especially when I need to be somewhere.

Advisor:  If you think of your investment portfolio in the same way, I think you’ll find a similar type of frustration in trying to anticipate which investments are going to do well this year.  In other words, think of the different asset classes-large/small/mid cap equity, fixed income and international as lanes of a highway.  Historically, “switching lanes” –or what we call timing the market-has not been a very successful strategy for most investors.

Client/Prospect:  So what does that mean for me?

Advisor:  Well, think back to rush-hour traffic.  Wouldn’t it be nice to be in all three lanes at the same time? 

The following sales idea can easily be implemented using Prospects of Wealth, Larkspur Data’s premier database of high net worth individuals.

Find individuals with liquidity for new investments!

Look for prospects over age 65 that have lived at their current residence for only 1 or 2 years. These individuals may have recently sold a large home and moved into a smaller one, with the gains now sitting in a savings account.

How: On the Personal Information tab, select Over 65 in the Age Group pop-up window. Go to Detail Reports to browse through your prospects, then target those with one or two years indicated for Length of Residence; or you can easily transfer this information to a spreadsheet and sort out the best prospects. See Tech Support on the Larkspur Data website for instructions on exporting data from Prospects of Wealth and importing data into Excel.

We hope you find this information helpful.  At Larkspur Data, our business is helping develop your business!  For more information on Prospects of Wealth or any of our other prospecting tools, please visit www.larkspurdata.com or call (800) 282-4567.