[SOLVED] A Financial advisor

In the following assignment you will complete each of the following questions based on the following scenario.
An individual comes into the branch of your bank asking to speak with a Financial advisor. He tells the administrative assistant that he/she has just being laid off from their longtime position as a geologist from a major oil and gas company. He tells the admin assistant that he was given a severance package of 300K and wants to open up a mutual fund account. Your role will be to go through the relationship selling model and assist the client.

 

Ques 1. 10mks- Preapproach questions ( 10 marks)
Question A)
What are three questions that the client may want to know about your company.
1)What products and services does the company have?
2)Is the company well-known in the industry?
3)How does the company evaluates new products and services?
Question B)
What are three questions that the client may want to know about you.
1)How long have you been working in this industry?
2)Your education level
3)What was your major?
Question C)
What are Four questions that the client may want to know about the economy.
1)
2)
3)
4)

Write the actual introduction and associated steps as stated during class lectures. (5 marks)
Actual Introduction:

Three important points to remember
1 Give out two business card
2 Seat the client in social space
3

Rapport Building: Must state two actual topics and label. (4 marks)
Open Questions to be used:
1
2
Two Important points to remember:
1 Keep it light
2 Develop trust

Purpose statement (4 marks)

Actual Purpose Statement to be used with the client:

Give two reasons why the purpose statement an important aspect
1 Stating the purpose of the meeting
2 transition from rapport stage to sales stage

General Benefit statement (WIIFM) 10 marks
Write a maximum 100 word, minimum 50 general benefit statement to be used in the presentation.

 

 

 

 

What are three important aspects of the GB statement
1
2
3

Permission statement. 5 marks
Write a permission/confidentiality statement to be used prior to conducting the KYC

 

 

 

List two reasons why this is so important.
1 Show the client your professionalism
2

Know Your Client ( KYC)

Part 1. You are expected to come up with a total of 12 questions which must include at least four to assess client risk.( 12 marks)
The following categories to be included outside of risk assessment include client, family, lifestyle, life events, legacy and finances
Number KYC Questions Category
1

2

3

4

5

6

7

8

Number Risk Assessment
1

2

3

4

 

Part 2. For each of the questions above, you must answer the following question. Why is the question asked are important. ( 12 marks)
Number KYC Questions Category
1

2

3

4

5

6

7

8

Number Risk Assessment
1

2

3

4

Develop a script starting with the actual introduction and going the entire process including the KYC. The format that will be used is as follows.
Example:
Advisor: Good morning welcome to XYZ, I’m Tony, you must be….
Client: John Smith
Advisor: Great to meet you John, please sit down. A Financial advisor A Financial advisor

 

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