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The Accountability Coach

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“Values-Based Financial Planning” Business Development Process with Michael Kitces and Bill Bachrach

September 14, 2021 by Anne Bachrach

Check out Michael Kitces’ 241st episode of the Financial Advisor Success Podcast with Bill Bachrach, by going to https://www.kitces.com/blog/bill-bachrach-values-based-financial-planning-script-advisor-roadmap/.
Be certain to listen to the end, where Bill shares his recommendations for helping prospects more concretely identify and define their goals, with not just the name, target date, and cost, but also the emotionally compelling words that describe what achieving that goal will feel like (to include on their financial roadmap), why Bill feels that it’s an advisor’s obligation to take full advantage of the financial planning tools that are available to them (and why doing so makes it even easier to “rescue” clients away from other advisors who don’t), and Bill’s view that trust isn’t a function of an advisor’s technical chops, but is instead a function of character, the ability to ask good questions, listen, and ultimately hold clients accountable to the advice that they’re given.
So, whether you’re interested in learning about how Bill’s “What’s important about money to you?” question, his five prospect conversations, or how financial advisors can build trust, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Bill Bachrach.
What’s unique about Bill, though, is that as the creator of the values-based financial planning framework and the father of the now-famous question – “What’s important about money to you?”- he pioneered a repeatable process to put a client’s values and goals at the center of the financial planning conversation at a time when the industry was still focused almost exclusively on product sales.
In this episode, Michael and Bill talk in depth about how Bill’s “What’s important about money to you?” question not only gives advisors a powerful way to start a meaningful conversation, but also gives prospects an opportunity to communicate the value that they’re seeking from a financial planning relationship, how that opening question is just a part of Bill’s script for having values conversations with prospects to create a foundation of trust and, ultimately, helps advisors (as Bill puts it) rescue prospects from their current advisors, and how Bill uses his values roadmap as a deliverable to visually show prospects the steps that they can take in order to fulfill their most deeply held values and achieve their most important goals.
Michael and Bill also talk about Bill’s five prospect conversations (each of which occur during the first prospect meeting, including the Opening, Values, and Goals conversations, as well as All The Money and Commitment To Hire steps), Bill’s techniques and suggestions for leading those conversations without overly “controlling” the conversation, and how recording prospect conversations for later review not only helps advisors build even more trust and relevance, but also ends out helping advisors learn to listen more, say less, ask better questions, and answer prospect questions more effectively.
Listen in by going to https://www.kitces.com/blog/bill-bachrach-values-based-financial-planning-script-advisor-roadmap/. I know you will get value from listening in on this great conversation that can help take you to your next level of success.
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Do you feel like your business has plateaued or you are sick and tired of being sick and tired? Could it use a shot in the arm to make even more progress on your goals? Consider working with The Accountability Coach. I’m here to help you accelerate your results, so you can enjoy your ideal business and ideal life! Reach out today for your complimentary consultation.

Want timely and relevant information to help you make more money and work less, so you can enjoy your ideal business and ideal life?  Subscribe to my business success tips blog by going to https://www.accountabilitycoach.com/blog/. Feel free to share this with others who you think would get value.  Let me know how else I can be of assistance to you on your goal achievement journey.

Filed Under: Blog Post, Business Success Principle, Choices, Communication, Effective and Efficient Behavior, Ideal Clients, Podcast Tagged With: Accountability, accountability coach, achieve goals, anne bachrach, Bill Bachrach, business accelerator, business growth strategies, business owner training, business planning, business success principles, business success resources, effective communication, entrepreneur business success tips, entrepreneur coaching, entrepreneur training, entrepreneurial mindset, financial advisor accountability coach, financial advisor coaching, Financial Advisor Training, goal achievement, Goal Setting, goal setting exercises, goal setting tips, high payoff activities, increase focus, limiting beliefs, Michael Kitces, personal development, practice management, Productivity in business, professional development, revenue generation, small business owner mindset, small business owner tips, small business training, stop procrastination, time management, work life balance

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I’ve sometimes thought of myself as not coachable – fits & starts on progress – but when I looked at where I’ve come, I can tell it works. This year, I’ve experienced over 50% growth – and with that growth came some confidence… confidence to finally go after what I know I should have done – we’ve added a flat-fee-only option to our offerings, and that’s ALL I’ll be targeting for 2014 and beyond. With that under our belts, I can foresee another 50% growth year for each of the next 2 years!

Louis Leyes, Trusted Wealth Advisors, LLP

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