Value - Finding
So what is “Value-Finding” and why is it so different and what makes it so important to you - the consumer and to us at McDermott Financial & Insurance Service, Inc.?
Value-Finding is a system which is both a science and an art form. This system searches for what is of value for the client by asking a series of questions. Value-Finding is simply a process used to provide SERVICE.
The opposite of Value-Finding is “Fact Finding”, usually used to peddle products while Value-Finding is finding out the real needs, objectives, concerns or fears which a client has. Value-Finding also uses a series of questions, statements and suggestions to assist in the search to finding out what may be appropriate in the way of possible solutions or suggestions to ponder and consider. These tools of discovery will be used throughout the entire Value-Finding process because the purpose is to serve, not to peddle. If this process is done correctly the opportunity to serve will be the ultimate outcome.
The Value-Finding session has a ground rule. The ground rule is – “put away your checkbook” because there will be no offerings of solution nor will any checks be written or accepted. No exceptions! “Will this be alright with you? Great, I will not break my word so let’s get started.”
I will use as part of the Value-Finding process a “Confidential Needs Analysis”, and other Value-Finding forms. This will be Confidential. By the way, what does “Confidential” mean? This will be between us and no one else. This process is to help me help you, the client have a comprehensive, personal financial inventory and to assist you in assigning realistic values to your personal assets and liabilities.
To start off we will begin with your family information by asking questions about your children, their ages and states of residence; and your personal marriage status is also important. 1. Personal Concerns; 2. Personal Questions; and 3. Financial Objectives Examples: are you concerned that you might run out of money? Do you have a distribution plan?
I will ask that you or each of you individually participate by personally answering YES or NO questions and by circling your individual answers. I will also ask some simple and basic financial planning questions and have you rank your personal objectives, starting with “1” being “not very concerned” to a “10” being “very concerned.” You personally will also circle the number you assign to those objectives being asked for your benefit. An example of one of these seven questions is giving your response to planning concerns for children, grandchildren or parents.
I will ask about your eggs which are in your basket while pointing out the old adage of not placing all your eggs in one basket and the way to gain safety is through diversification. Following this old adage has time and time again served the purposes of many money matters. Throughout this process I will ask for your permission to write down any of these different eggs for your benefit so you can actually see what and where they are.
When this simple process of “Value Finding” is completed I will actually ask if this was of value for you. If your answer is affirmative I will then request the opportunity to do my homework and meet with you again. The goal is to see if I can serve you by presenting possible concept solutions of value, if warranted. When we do meet again other questions may be asked making sure I understand your concerns, your particular issues, desires and benefits you find of value.
We will offer a second appointment only if we BOTH feel there is value in doing so. In this second appointment we will show conceptual scenarios choices to consider. Once those ideas are considered and your interest is to further discuss possible solutions we will offer a third appointment. This allows us to do our homework based on your specific needs and concerns to present safe money choices for your review and consideration. Our goal is to educate, ask as many questions of value as we can while offering you the opportunity of asking as many questions as you can. Only then can we see if we may be of service to you now and in the future.
This process I call “Value-Finding” is a system of “Service” allowing us to enroll you into programs that provide you with the benefits you find of value. There is no pressure, nor a need to peddle products, for if I can provide you a service I will offer it to you and if I cannot assist you with my services. I will also tell you our ultimate goal is to not just serve you but to serve others just like you.
I look forward to the opportunity of presenting my “Value-Finding” system for your benefit and seeing if I may be of service to you and others just like you.
WE ARE NOT: CPA's, EA's, Tax Practitioners, or Security Investment Advisors.
WE ARE: "Safe Money" People