In this next video, Todd will be going through and demonstrating the Wealth Optimization System conversation with a prospect. So how to navigate the four quadrants of the Wealth Optimization System with a prospect when we've determined that they have a number of things going on.
Take a listen to hear Todd walking a prospect through it.
So now that we've agreed that, really, the need that you have is more planning-based because you've got a number of things that we really need to help you think about and get your hands on. So let me go ahead, let's take some time, let me explain our whole approach and process around planning. Does that make sense? Alright, great.
So this is still the foundational framework, but I'm just going to build upon this by drawing an additional line down the middle here, okay? And as you can see now, this line creates four distinct areas. Now I'm going to walk you through each of these to really help you understand and get your arms around what's going to be the benefit and the value and the experience that you're going to get going through the planning process with us. But we'll talk along the way because this is really important to kind of see how, at the end of this, you're ultimately going to end up where it is you want to be, with the results that you want, with the confidence that you both want, I get that.
So basically in looking at the four quadrants here, we start here first in the upper right-hand quadrant, and I'm just going to write a one up here. And so the primary focal point up in this first quadrant is all about identifying your vision and your goals. Sorry for my handwriting, it gets messy, I'll tell ya. But basically identifying your vision and your goals. This is critical, remember I talked about one of the unique things about our approach in the work that we do with clients, and I think this is the thing that clients probably value the most from the work we do is that, before we go down here and start to look at any of this stuff, we want to spend time up here getting clear on as you think about the future, as it relates to your kids' education that you talked about. You also talked about retirement, right?
So to give you an example of the things we're going to talk about is, we're going to really want to engage and talk about as you think about retirement, how you're going to spend time, where you're going to be, are you going to buy a second home? Are you going to be moving across the country? We really want to understand how you're going to spend time, what's it going to look like? Really understand so that we can then begin to start to look at what are the things that we need to maybe do or to shift to be able to help you be adjusting for that and be prepared for that and be ready for that when that time comes.
So the first part of our process, we're going to spend a bunch of time really just getting clear on your vision for the future, the things that you value, because then the goals are all going to come right out of that and they're the things that are going to move us closer and closer to that vision that you have being a reality.
Once we've got an absolute clarity around how you want things to be for the future and you're feeling good about that, you're feeling really, really connected, then we're going to actually move down below this horizon. We're going to start to get into the weeds on some of this stuff because now we know what you want things to look like, we know how you want things to be. And so in the second quadrant down here is really where we're thinking, we're going to think about the solutions. Okay? So we're going to think about the solutions. And this is critical, right? Because based upon when retirement's going to happen, and how much longer you're going to be working, and looking at how you're going to spend time in retirement and things of that nature, and your kids' college educations, we can now begin to start to look at what are the proper things that you need to be doing, how does your money need to be invested, how do you two need to be protected in order to ensure that that all happens the way you want, right? It's about retiring on your own terms.
So down here we'll want to be looking at how the money's invested, we'll want to be looking at potential vehicles and things that you can do to actually make that happen better for you, work better for you, so you have that clarity and you're getting the results that you want. The other thing that we're going to want to know down here is, we talked a little bit about who are the advisors you're working with. It's critical that we're aligned with your other advisors and your other advisors are aligned with us, but we want to know who today is managing the money, right? We want to know who your accountant is. If there's no lawyer, as we've talked about, that's on the team, we can bring and suggest a lawyer when the time is right to finish off the things that you haven't done as it relates to your wills and putting an estate plan in place, to make sure that you're protected there.
But that's what's happening in the second quadrant. Once we've aligned with the other advisors, once we've put the proper solutions in place, we now can move over into the third quadrant. And the third quadrant is all about implementing the results, okay? So here we're getting clear on what you want, here we're actually looking at what's the best way to help you get it, to design the right solutions, and here we're actually putting that into practice. We're making it happen, we're making the moves and the decisions. Okay? So here's where we'll be actually implementing this plan.
Once we've actually put everything in motion and everything's working for us, we now move up here into the fourth phase. And the fourth phase is all about sustaining the results. Right? Sustaining the results. So the realities about that is that you're here today because, not because you haven't done a lot of stuff, you guys have actually done a fantastic job, you've done a lot of great things. But the reality is, like many of our clients when we first met them, they came to us because they were lacking the confidence in what they were doing, and does it have them on track for how they want things to be in the future? And that's really the reason that you're here today. So part of our process as you can see is going to make sure that we're always in this conversation. Making sure that the things we're doing below the horizon, right, are in alignment with the results that you want.
So we're going to be in this conversation on an ongoing basis so that you just never have to be in a position to have that conversation with anybody else again. It's going to give you the confidence.
So this is really our process for planning, as you look at it here, and sorry to cut through some of your numbers and the things that we've written out here. But this is our process for planning, and we actually call this the Wealth Optimization System. And that's what it's ultimately designed to do, it's about helping you to optimize your wealth, your finances, in alignment with the things that matter to you most and why, okay? That's the uniqueness of our approach.
So a couple of last things I want to point out, and just kind of go back to this, and we'll talk about how it all works, but fundamentally, when we're up top here, and I'll use another color so it just hopefully pops or stands out for you. I'll use black because I haven't used that yet. But up here, this is all about clarity, okay? The first phase where we're focused on identifying your vision and goals, it's all about clarity. We need to get clarity as your advisors, and we need to make sure that you're clear on, again, your vision, your values and goals as it relates to the future. And we're going to help you through that process, we're going to help facilitate you through that process so that we get it crystallized for you and with you.
Okay, so that's all about getting that clarity. Down here in this phase, it's all about making decisions, okay? Now that we know what you want, we've got the clarity, we come down here, we align it with the appropriate solutions to get you what you want, get you on-track for that. So we've got to make some decisions to be able to now move over to the third phase. And over in the third phase down here, this is all about getting results. It's all about getting the results. Until we actually put these solutions in place, we can't get on-track for the results that you want for the future.
And then up here in the fourth phase, this is all about ongoing confidence. We want to make sure you're sleeping at night because you've got me and my team and our business on your team, right? We've got your back, we're looking over these things for you, and we're doing it in the context of really knowing what matters most to you, what we're working towards all the time so that we can make sure that we're driving the right actions down here. Does that make sense?
So just some last couple of things, and I think this is an important distinction that I want to make for you, because I've talked about the fact that we're very confident, right? For 20-some odd years we've been providing in investment solutions, insurance solutions, planning solutions for our clients. So fundamentally when we get down here to talk about the solutions, there's really not anything that we're not going to be able to probably bring to the table for you, things that we're not going to be able to help you with and help you make decisions about and help you implement on. But there's a really key and important point of our planning process, because it's separate and distinct from the needs that you'll have down here around who's going to manage your money, and if we determine that you need to purchase some more insurance or things of that nature. There's a distinction between the two.
So this is our approach to planning, and it's something that we do separate and distinct from any of this below-the-line work. We are a fee-based planning firm, which means that we do our planning for a fee, for a stand alone fee. So you will pay us a fee to take you through this process, to help you get clear on the things that matter to you most and why, and really dial that in around your vision, your values, and your goals. And you have no obligation to take the solutions and the recommendations that we're setting forth that are going to actually help you get there.
You have no obligation to have to do that work with us. We're very capable, we're very good in that space, most of our clients do hire us for that work, and we hope you will too. But I want to be really, really clear. The only thing that you're committing to at this point in the process with us is do you feel as though we can add value in bringing this planning process to both Lynne and John, both of you guys? Do you think we can add value by bringing this process to you?
And so it seems like this is something you'd like to move forward with, so here's the way that this works. So we basically charge a fee and it's a separate planning fee. So our planning fee to be able to take you through this process is a $3,500 fee. And the way that we typically do that is we can create an invoice, we can go ahead and put an engagement agreement together that will walk through each and every thing that you're going to get, and from that point forward you could pay in a couple of different ways. You can pay half up front, you can pay half at completion of the process. Most of our clients, however, just pay 100% up front, it's just an easier way to go about it, it's cleaner and faster. And at that point in time, we will then schedule our first meeting to really start to dig into the above-the-line conversation around the vision, the values, and the goals.
So how's that sound to you? Absolutely, we can take a check, and we can have that ready for you today, I can have my team go ahead and actually prepare that engagement agreement letter and everything for you to sign off today. And we can get ready to go. Fantastic, thank you very much for your time, and I really look forward to taking this next step in our relationship together. Thank you.
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