Introducing HALO in your client meetings [Best Practices]

How to introduce HALO to clients

For this particular instance, let's assume that we may have already made a plan for your client. You can start by saying something like this to your client:

"You remember that process we went through to develop a goals-based plan for you over the next several years? Frankly, it was your input and your time spent providing me with a lot of those spending numbers, some of the asset class details, some of the income details, and some of the incomes you expected to get from various sources. That was very helpful in modelling your plan. This time, I want to try to take that to another level. We have now introduced an additional element to that planning software, which will make this much more customized to your particular situation because one of the things that are super important here is making sure that the timeline is customized to your specific situation because one of the things that are super important here is making sure that the timeline that we're speaking about makes sense. Because we need to know that you aren't going to outlive your money."

Now that you have set the stage for the client and explained why you are trying to take their plan to the next level, present HALO to your client. You can say something like this:

"So, what I'd like to suggest is that we have a pretty easy-to-follow assessment that asks you some questions about your lifestyle, about some health factors that you have in your family and about some behavioral factors. Then, we will input these answers into a very extensive model that will kick out a much more accurate sense of your life expectancy at the back end. On top of that, we will have a pretty good understanding of how much time you may need to spend in your elder years with various forms of assistance and what that might cost, mainly depending on where you choose to retire and where this might happen. Does that sound like something that you'd be up for?"

Let's assume the client has agreed to take the assessment; you can then inform them on how to take it. You can say:

"Terrific. We can either do the assessment together here, or I can give you the link to the HALO assessment, and you can do it on your own time."

"To note, your answers will be confidential to you, and, as the advisor, I will only see the numerical output. Is that something that I can set up for you?"