Chapter 8: The Asset Transformation My Asset Journal Client Records Keeping System! Your High-Value-Client Service Back-End Revenue Platform:

Chapter 8:  The Asset Transformation

My Asset Journal Client Records Keeping System! Your

High-Value-Client Service Back-End

Revenue Platform:

In this chapter were going to take a close look the “platform” for your annual review back-end revenue model – the My Asset Journal Asset Transformation client records keeping system.  At this point, you want to grab the sample that came with the course as a reference point while we proceed.

The client records keeping system is everything… It is the reason… It becomes your high-value service platform and activity that goes way beyond selling and planning and positions you to write loads of additional highly-suitable new business revenue along with so many other client relational things.

As you will notice, what the My Asset Journal client records keeping system and the My Asset Journal software and reports do is they take what is essentially many different types of assets, issued by many different companies and essentially standardizes them all in one easy to handle, easy to review, easy to access client records keeping system.

This kind of efficiency will not only totally amaze your client, but will sincerely assist your client in asset management. And as mentioned before, gives your client a sense of being in total CONTROL . Which in return positions you to write loads of additional highly-suitable new business revenue.

Keep in mind that this section is not intended to explain the use of software in detail, nor the reports in detail. We will address the software and reports in a subsequent chapter later. What we want to do here is focus on the client records keeping system and getting you familiar with how it is laid out.

And do keep in mind here that after you’ve been through this once or twice you likely won’t need to revisit this sort of detail because its all laid out very intuitively. Not only that, the software lays out and prints the entire Client Records Keeping System in logical order as well. In addition you have the sample My Asset Journal client records keeping system as a reference point as well.

Additionally, what you will find in the style of the My Asset Journal reports is a sophisticated simplicity. Like I mentioned earlier, the software was intentionally designed to produce reports that are not complicated, that clearly report the asset performance in a simple Gain/Loss/Cost approach. Whether that asset performance reporting be good or bad.

This has not been designed in the complexity our industry usually loves to produce this kind of stuff. This has been designed as if a client were to have designed it, and the reason again is simplicity; and so that it can be understood!

One thing the industry regulatory people are asking for is full disclosure in as far as at the point of sale is concerned. Personally, I don’t think this sort of sales based “full disclosure” goes far enough. What is needed is a full disclosure “post sale” advisor/client reporting system. In other words a disclosure system that fully reports on asset performance in a clear and easy manner, “and” that regularly involves the advisor and the client together. Not the client and the postman.

Generally, retirements are not wrecked at the “point of sale”, where they are wrecked is in the “post sale” phase, and often due primarily to a total lack of attention in a world full of risk.

This happened to many retirees during the high-tech bubble during 2000-2003 when the new economy liquidated the value of loads of equities and retirements in a very short period of time. But, in all reality, it really wasn’t the new economy that did this, it was a total lack of attention and post sale advisor/client service and disclosure that did the damage.

As a result, many law firms have since then taken that lack of “post sale” advisor/client service and disclosure all the way to the law firm’s bank accounts!

And have fared quiet well in doing such!

Of course, this is just my opinion. As you can tell, I tend to be quite “hawkish” when it comes to retirement and risk.

However, the neat thing about the My Asset Journal client records keeping system is it actually allows an agent and or advisor to do and practice a tremendous amount of “post sale” service and disclosure. And therein is the secret to a world of tremendous NEW opportunity.

So without further ado and all the opinions out of the way, let’s dig into the Client Records Keeping System.

Component 1 – The Binder:

Component 2 – The Clear View Tabs:

Component 3 – The Paper:

Component 4 – The Reports:

Component 5 – The Assets:

Now at this point you may be starting to think: “Mike, this looks like a lot of work here…”

Well, lets keep all things in perspective.

First of all it took me all of 4 years to get this right, and through a lot of trial and error.

Secondly, I’ve laid all this out, I’ve systemize everything and even went to the great lengths of building a software program that automates near everything, that lets you rip one of these Client Records Keeping Systems out in 45 minutes or so  – when you get good.

And third, getting to $556,000 per client through these very unique high-value-service client annual reviews was not what I would call an EASY task. If it were, every agent and advisor in the U.S. would be doing these client annual review numbers. Rather, most have chosen to do what is EASY.

Four years was definitely not EASY.

No, none of this was easy.

But, what you have now IS EASY!

I will say though that all of it has been worth the effort. The most rewarding part is not the $$$, no it’s the personal satisfaction that comes when I set one of my clients up in this. The most rewarding part is watching an retired Air Force Colonel act like a kid in a candy store when I hand him his My Asset Journal client records keeping system!

That has made all of this worth the effort!

The $556,000 per client that was just the effect of the cause.

Anyway, soon you too will experience the effects of what I’ve shared with you in this system, as it is you begin to deliver this system to your clients.

And do allow me to say that any agent and advisor can sell product, close deals, deliver policies and all that other stuff.

But what will now separate you from the “any agent” pack and make you quite special in your clients eyes, and a TRUE professional in every sense of the word, is the service you will now deliver to your clients through the Asset Transformation system. The finishing of the job you started for your client when it was that you originally set up the assets, and that is accomplished once every thing is organized for them in their Client Records Keeping System.

What you will find in as far as the back-end sales are concerned, is they will happen… and many will happen almost as if by accident!

So lets take a look at the order of the Client Records Keeping System and what it will look like:

→   My Asset Journal Binder  →   The Clear View Tabs  →   The Paper  →   The Reports   →   The Assets. 

Let’s go through these steps real quick to get an idea of what each one entails.

Step 1: My Asset Journal Binder 

 This of course, is what ties it all together.

Way back in the early days the reports were basically just stapled together. But, as the system evolved, it became obvious that what was needed was a platform for more than just reporting.

The idea of incorporating and organizing everything related to my client’s assets into one records keeping system occurred several years ago, and this is when it became clear that what I needed was to test all of this in a three ring binder arrangement.

And so that is exactly what I did. Which as well has steadily evolved into the “My Asset Journal” client records keeping system binder. This is the official branded client records keeping system of the Asset Transformation system.

As a licensee of the system, you are granted permission and are authorized to use the “My Asset Journal” client records keeping system binder as long as you do not in any way:

1: Modify the My Asset Journal binder.

2: Reprint the My Asset Journal binder.

3: Copy in any way the My Asset Journal binder.

4: Redistribute in any way the My Asset Journal binder.

Any of the above is a violation of the Asset Transformation system license, and will result in termination of your license and a loss of the use of the entire system.

What you are permitted to do is:

1: Order the pre-designed My Asset Journal binder through your Asset Transformation membership and the member site.

2: Distribute it to your clients only, and at no cost to them.

And also, I do need to add something else about this in as far as you delivering this high-value service to your clients through the Asset Transformation system:

You do not want to come across as giving the appearance of “cheapness” by using some off the shelf plain binder.

Not only would that be a violation of system license, but this really defeats the purpose of being a professional. In this area, the cheap approach will result in cheap results.

Stick to what is proven to work and don’t cut corners.

A tremendous amount of work and testing has went into the creation of this system, and it is you and all the other licensees that now benefit from all of that early effort.

I didn’t cut corners in taking four years to create this, and I expect the same of my licensees. So when using this – don’t cut corners! If you desire the kind of results I’ve attained, stick with the 4.5 years of trial and error experience and what has been proven to work.

Now, let’s talk about how it is you go about ordering the My Asset Journal binder.

In bringing this course to market, initially my intentions were to use the branded My Asset Journal client records keeping system binder that everyone would deliver to their clients.

And the early approach to this was to locate a manufacturing facility, and have thousands of these manufactured, and set up an ordering system for my licensees.

This is what was intended and what was pursued.

However, I began to run into a number of manufacturing hurdles that were really becoming a royal pain.

The issue I ran into was with one firm was an inventory problem in as far as getting the preferred item.

I solved the inventory issue by locating a different vendor. However, this firm required a 3 to 4 week manufacturing turnaround time. Which in the old days maybe that kind of turn around is okay – but not in the information age. This approach quickly became in my mind a NO GO.

So, after doing some more research I came across a new business division that a major office supply manufacturer had just launched. After making contact with the head of this division and discussing our requirements, they were very interested in accommodating the manufacturing for the project.

This was a huge breakthrough!

And best of all, we have one of the worlds largest office supply manufactures accommodating manufacturing!

Awesome… Perfect…!

What this meant for the project was huge. What it meant was NO client records keeping system inventory. This relationship has allowed us to solve the hurdles we ran into earlier, and we worked out a way where our licensees will now have a reliable source of My Asset Journal client records keeping systems and order however many they desire — with very low minimum quantities and a blazing fast turnaround.

What has come out of this is a very unique web based ordering system all of my member licensees can now access through the Asset Transformation member site, that will give you order access to the My Asset Journal branded client records keeping system where you’ll be able to place immediate orders for however many My Asset Journal client records keeping systems you need.

This is a very convenient arrangement for ordering additional My Asset Journal client records keeping systems. And shipping turn around is fast and through FedEx.

The My Asset Journal cost is exceptionally reasonable considering that this is a custom designed binder. Over all it’s a couple dollars more than an off the shelf plain D ring view binder at the local office supply store. So for nearly the same money as a plain binder, you’ll now have all your clients in a very nice looking, branded client records keeping system which adds greatly to your image.

The time saving convenience of ordering by logging into your member account through your web browser is another great benefit of this arrangement. No trips to the local office supply store!

This is a great arrangement!

In fact, after installing the software, one of the first things you might want to do is  place an order for an initial supply of the My Asset Journal Client Records Keeping System.

What I suggest is order an initial quantity of the My Asset Journal client records keeping system binders, as I’m writing this course, it is currently available in a 1.5” version. There are plans to have larger sized binders available in the very near future. What I suggest is you order one per client and then add another 1/3^rd to that initial order (eg: 10 binders plus 3). The reason for this is with some of your larger asset clients, you may need a total of two binders in order to accommodate more asset records keeping.

Step 2: The View Tabs – Wilson Jones Clear View Tabs

This of course, is what gives the Client Records Keeping System its sectionalized organizational abilities as well as allows your client to easily view the My Asset Journal reports through the clear view tab.

In essence, what the Client Records Keeping System is is a highly organized, portable reporting and filing system for your client. And practically a financial Journal if you will.

In testing different types of three ring binder tab insert type products, what works best is these – the Wilson Jones Clear View Tabs.

They’re just good fit; actually, they are a perfect fit. The reason being is because they are “clear” and because of this, they allow the printed reports, the assets, etc, to present and display through the clear tab inserts.

I tested paper type tab inserts and for all the above reasons the paper products just do not work. The paper type tab inserts actually seem to take away from and cheapen the My Asset Journal client records keeping system.

Just like with the My Asset Journal client records keeping system, you can quickly and easily order the Wilson Jones Clear View Tabs directly from the Asset Transformation software by logging into your member account through our preferred vendor. This again is very convenient for the licensees.

The Wilson Jones Clear View Tabs come in a package of 8 tabs. What I suggest is you order one set per binder and then add another 1/3^rd to that initial order (eg: 10 Clear View Tabs plus 3). Again, the reason for this is with some of your larger clients, you may need more than 8 tabs in order to accommodate more assets.

Step 3: The Paper – Wausau Martian Green

Obviously, this is what your Client Records Keeping System reports are printed on.

Again, after a lot of testing and testing different color arrangements, what I decided on for the My Asset Journal client records keeping system was the martian “green” color. And there are several reasons for this:

 1: The color green is the color of money!

2: The color green is representative of spring time, the season of “growth”!

3: My clients preferred the client records keeping system in the color green.

4: Green is a color of newness and freshness!

So those are my thoughts on why I went “green”… and it wasn’t because I’m on a crusade to save the planet or anything like that.

First of all, what you want to do is to print the Asset Transformation reports with a color inkjet or color laser printer, and the reason you want to use a color printer is for several reasons:

1: Professionalism.

2: The reports present much better in color.

3: The charts present much better in color.

4: Everything just presents much better in color.

Now as to the paper, again through much testing, what I found was because everything in the My Asset Journal client records keeping system had differing shades of green and we now essentially have this “green theme” thing going on.

What I found was that a certain type of green paper actually presented the reports and charts better than the standard white paper.

The paper manufacture I selected is Wausau and the paper color is “Martian Green”. Again this item can be conveniently ordered through the Asset Transformation software. What I suggest is you order two or three 500 sheet reams along with the My Asset Journal binders and the clear tabs.

Step 4: The Reports – My Asset Journal Software

This is the information-based component that pulls together the assets you set up for your client and presents everything as a cohesive, highly reported, very organized financial system.

The steps we take to accomplish this are as follows:

1: Determine what asset information is required by the software.

2: Gather this currently disorganized asset information.

3: Input only what is required by the software.

4: Save the client data file.

5: Print Client Records Keeping System reports.

The reports we are going to build and print fall into the following categories, and do keep in mind that you’ll likely not need all of the following categories. You’ll only build and print what is needed based on the assets you’ve set up for your client.

What I recommend you do is to grab your sample My Asset Journal client records keeping system that came with the course and go through it at this point, in order to familiarize yourself with the reports and the layout of the entire client records keeping system.

The report categories are as follows:

1: Asset Summary:

a: Report

b: Chart

2: Insurance, Securities, Deposit:

 a: Asset Summary reports

b: Asset Summary charts

c. Asset reports

Step 5: The Assets – Your Clients Assets

By now you should have already flipped through your sample My Asset Journal client records keeping system. If not what I want to do at this point is refer you there because this step is best illustrated in the sample and pretty self-explanatory once viewed.

The objective is to round up your client’s asset documents, three hole punch everything and insert all of this into the appropriate tabbed section behind the My Asset Journal asset reports.

The documents you want to do this with are as follows:

1: Original asset ownership documents.

2: Supporting documents – brochures, suitability forms, etc.

So, at this point, we’ve visited each of the 5 steps involved in assembling the My Asset Journal client records keeping system and we’ve been through the sample you received with your order. Let’s now move on and take a look at a few additional things related to the client records keeping system and assembling such.

You will need a hefty three hole paper punch. These are available at common office supply stores and or can be purchased at the internet vendors you will be purchasing the clear tabs from.

Generally what you want is a three hole paper punch that has a punch capacity of 40-70 sheets of paper or more. The three-hole punch system I use, uses a leverage type system that easily punches large amounts of paper. I’m sure there are electric versions available as well.

So this is what you use to three hole punch the all of the asset documents and reports.

let’s now revisit the document order of the My Asset Journal client records keeping system. What you want to do here is cross reference the below list with your sample My Asset Journal client records keeping system and or the software. What we’ll do is look at this by section by section as it is organized in the client records keeping system:

1: Asset Summary section document order.

            a: Asset summary report.

            b: Asset summary chart.

2: Asset categories sections – insurance, securities, deposit

            a: Insurance asset summary report.

            b: Insurance asset summary chart.

            c: Insurance asset report.

            d: Insurance asset brochure.

            e: Insurance asset disclosure documents.

            f: Insurance asset suitability documents.

            g: Insurance policy (the ownership documents)