It is well understood that the closer you are to your customer, the clearer your understanding is of your customer needs. Most successful businesses implement profiling tools to gain insights into who your target customers are allowing you to develop a deeper understanding of their motivators and needs that drive their behaviour.
As an example, an accounting practise focused on Small to Medium Enterprise (SME) clients will have a good understanding of what this target segment requires compared with other client segments who have a very different set of needs.
Customer segmentation is followed by delving deeper into what makes your clients tick. Profiling your clients into specific sub-segments will help the accounting practice understand when clients are SME business owners or sole traders requiring a very different set of services.
Applying the profiling process to Estate Planning provides clear insights into a client’s historic and current personal and private situation.
Naturally, everyone needs an Estate Plan to help ensure the wealth they have built is transferred as per their final wishes.
No profiling needed here I hear you say!
As a trusted advisor, knowing your clients’ current situation enables clear and measurable services to be tailored to your clients’ needs.
The LGen way…
As part of the LGen way, we have come up with a maximum of 17 profiling questions for your clients to kick start a high-level understanding of their Estate Planning needs.
When you know what potential risks your clients face, you have a more focused approach to suggesting a tailored Estate Plan that appropriately fits your clients’ profile. This is delivering targeted value to your customer.
Now, profiling doesn’t stop with supplying your clients with questions.
It gets more complex and harder to gather profiling information once a client has been identified as a candidate for an Estate Plan.
This is where many Estate Planning processes fall over. Capturing the next level of client details and the correct information required to complete a profile really depends on your client and how they like to interact with you.
Some prefer email communication, some only want face-to-face meetings (although many of us are getting used to ZOOM calls now), while others may prefer a phone call.
LGen focuses on solving the gaps seen in the Estate Planning sector and has systems in place to maintain the momentum of delivering the Estate Plan.
LGen offers a crucial back-office support team to your business to stop things from falling through the cracks.
Once introduced to your client, an aspirational discovery session uncovers your clients’ Estate Plan objectives. These may be from a risk and insurance perspective, a legal, tax or wealth distribution perspective.
All these require specialised advice and additional profiling.
Partnering with Australia’s leading financial experts (Financial Advisers, Accountants, Finance and Property Specialists), LGen delivers Estate Planning the way it should be done.
Looking to bring Estate Planning into your business?
Then reach out for a chat or watch our videos.