The Art of the The Art of the Factfinding ExperienceFactfinding Experience™™

International Insurance & Finance Congress 2008International Insurance & Finance Congress 2008

Joey DavenportJoey Davenport

Paradigm #1Paradigm #1

Compliance Compliance Alignment Alignment

Paradigm #2Paradigm #2

Transactional Transactional Relational Relational

Paradigm #3Paradigm #3

Surface Surface In-Depth In-Depth

BeliefsBeliefs

The sale is made in the factfinder.The sale is made in the factfinder.

The The processprocess is the product. is the product.

CLOSE

SOLUTION

DESIRE

PROBLEMS

FACTS FEELINGS

CLOSE

SOLUTION

DESIRE

PROBLEMS

FACTS

FEELINGS

CLOSE

SOLUTION

DESIRE

GAPS

FACTS FEELINGS

T I M E

TTEENNSSIIOONN

RelationshipRelationshipTensionTension

Internal TensionInternal Tension(Desire)(Desire)

Factfinding ProcessFactfinding Process

Make a ConnectionMake a Connection

Capture DesireCapture Desire

Create AlignmentCreate Alignment

Making a Connection:Making a Connection:

Active ListeningActive Listening

““The key to the heart The key to the heart is the ear”is the ear”

VoltaireVoltaire

““The deepest The deepest principle in principle in

human nature human nature is the craving to be is the craving to be

understood and understood and appreciated”appreciated”

William JamesWilliam James

““Seek first to Seek first to understand, then to be understand, then to be

understood”understood”

Stephen CoveyStephen Covey

Capturing “True” DesiresCapturing “True” Desires

Courageous ConversationsCourageous Conversations

Why do advisors avoid engaging in these Why do advisors avoid engaging in these difficult conversations?difficult conversations?

Why do prospects and clients avoid these Why do prospects and clients avoid these difficult conversations?difficult conversations?

What are the benefits of engaging in these What are the benefits of engaging in these conversations?conversations?

Premium

Need for Life Insurance

PremiumNeed Life Insurance

Sell Your Home

Premium Need Life Insurance

Sell Your Home

Leave School/Friends

Premium

Sell Your Home

Leave School/Friends

Need Life Insurance

Student Loans

Premium

Need Life Insurance

Student Loans

Leave School/Friends

Lifestyle Impacted

Creating AlignmentCreating Alignment

CMAMACMAMA™™To what extent is the commitment:To what extent is the commitment:

CLEARCLEAR

MEANINGFULMEANINGFUL

ACHIEVEABLEACHIEVEABLE

MEASURABLEMEASURABLE

AGREED UPONAGREED UPON

ConclusionConclusion