The Genie with Scott Plaskett | E171
Digitizing the management of financial planning companies.
In this episode, host Jason Pereira talks to Scott Plaskett. As a financial planner, he is in the business since 1993. As a financial planner, he was looking for systems and technologies that would support the need to run the practice.
Episode Highlights:
01.08: Scott shares how he realized there is the ability to create processes and workflow within the systems.
01.39: After facing several crashes in the system, Scott was told to put a system in place that is running on its own server.
02.16: Scott gives a piece of insightful information that his firm was one of the first firms to embrace cloud-based technology.
02:30: Scott took the help of salesforce.com, which is the apple of all programs.
03:49: Jason shares his preference for salesforce and how people often think it is a CRM platform with giant data on top. It is almost like AWS of CRM.
04:35: Jason is curious to know “What does Genie deliver to an advisor who is looking to automate their process better?”
04:45: Scott talks about the four components in Genie: The Marketing, Sales, Process / Fulfilment, and Profit Genie.
04:55: Scott also gives insights about the phases and automation that one would go through.
07:26: Most financial advisors grow their business with referrals, and this is extremely important.
08:48: Scott talks about the education-based marketing program of Genie and how it taps the invisible market.
09:58: Jason stresses the importance of putting some valuable offer or product in the bang-on impactful market.
10:38: Jason asks, “How are you going to articulate your value properly so that clients say wow.”
12:15: Scott explains the entire process and emphasizes that they are already overloaded with work as a financial planner, so it is extremely important to keep track of all the work. This is where the sales genie comes into the picture.
12:50: Jason agrees that he has never seen an organization succeed without a proper process.
14:12: Scott discusses the importance of fulfillment in a business. If you don’t deliver on the promise, the entire business is going to fall.
17:40: Jason and Scott discuss the importance of maintaining a uniform process.
19:31: Scott tells the listeners about the profit genie, which is more about running a better business.
21:56: Scott also guides the listeners that people need to put it in their hat when it comes to building a business. The only way to do that is via information.
23:48: Jason asks what is giving the users of Genie confidence?
25:02: Scott explains the importance of confidence and how it helps to improve the process and generate profitable revenue.
27:04: Scott guides his clients to implement the fulfillment genie at first then worry about leads.
29:03: Scott’s vision is to remove malpractice from the advised-based industry.
30:00: Jason inquires, “What is the biggest challenge while implementing Genie?”
3 Key Points:
Scott throws light on visible and invisible markets. For example, if you are a real-estate agent and you want a property with a waterfront area. The problem is who are the people who want to buy that property, so this comes under the invisible market.
It is important to know that you have a workflow managed by a system so that you and your people always know where people are in the process.
Jason enquires about those people who have used the Genie platform and how they have benefitted from it?
Tweetable Quotes:
“If you are a financial advisor and you don’t have leads coming in then it is not good; it’s kind of like air is to humans as leads is to financial advisors.” - Scott Plaskett
“Marketing is all about building rapport.” - Scott Plaskett
“Client is paying you for the process.” - Scott Plaskett
“Each of the opportunities we identify have different workflows.” - Scott Plaskett
“If you want to build a business you got to have a platform in place.” - Scott Plaskett
“The perfect sales is when you show the people this is what you need.” - Jason Pereira
Resources Mentioned
Facebook – Jason Pereira’s Facebook
LinkedIn – Jason Pereira’s LinkedIn
Woodgate.com – Sponsor
LinkedIn – Jason Pereira’s LinkedIn