Profitable Practice from Development to

Implementation

James (Jim) Swain, JDFounder and CEO of the Academy

of VA Pension Planners

Valerie Peterson, JD Executive Director of Elder

Counsel

This Session Will Cover

Knowledge and Skills Required

Blueprint of a Profitable Practice

Additional Legal Services

Skills and Knowledge RequiredSkills required to succeed in this area are:

−Sales – ability to convince people to take actions that are in their own best interest.

−Presentation – ability to talk to the public and explain complex legal and emotional issues.

−Elder Law- a strong working knowledge of elder issues.

Income tax –a strong working knowledge of the income tax issues that apply to planning options

Investments – know different types of investments and how they impact planning

Networking – must be able to meet with referral sources and develop mutually beneficial relationships that generate new business

Patience – working with Elderly requires more patience

Skills and Knowledge Required

What is Different About VA Pension Planning

VA Pension Planning is a great Public Relations Tool

– Easy conversation subject

Everyone knows someone who is a Veteran or Surviving Spouse

Where else do you get people actively marketing your services?

- People will make this their mission

Huggable Clients

- They are loyal

- They look for opportunities to refer business to you

You have to be patient with Elder Clients

- Listening skills are required

- They want to tell their story

Case is more urgent

- Health and VA deadlines

What is Different About VA Pension Planning

Office professional but friendly and comfortable

Office Accessibility

- No barriers to entry

- Wheelchairs

- Walkers

- Bathrooms

What is Different About VA Pension Planning

Much Easier to Discuss

It is easier to talk to strangers as well as friends and associates about VA Pension than Wills/Trust/other legal services

It is easier to get invited to speak to churches, civic clubs and other social groups

All Contacts are ProspectsEvery contact has multiple business

opportunities

- Estate planning for family

- Business issues

- Real estate issues

- Tax issuesVA Pension gives you the opportunity to tell

people what else you do

Cross Sell

Sell new services to existing clients

Ask your existing clients about family and friends

VA client families have a relationship with you, and are more apt to use you if they know what you do

You have a Competitive Advantage

Price services based on their value

Not selling paper or a plan

- Delivering a valuable result

If you see yourself as selling paper or a plan, you will be selling a Commodity

Pricing Services

Don’t give in to quick $

You should be a partner in all planning

Be careful of supporting the unauthorized practice

Knowledgeable and Ethical Financial Advisors will want a Knowledgeable Attorney as part of their team.

Pricing Services

Value Pricing

Do they have a fee? Or is it an investment?

What is the Value You Return for their investment?

Your Knowledge and Experience allows you to create an Income Stream of $23,360 per

year for life – What is this Worth?

Initial Meeting

Do you give this away? Why?- Give credit against plan

If Prospect is pre-conditioned they will expect to pay for your time

If you do not value your time, how can you expect your client to value you?

Increase Your Profitability

No free consultations with Attorney- Free consultation is phone call with screening

staff memberCharge for Value of Services

- Same as Medicaid planning

Do not sell documents to client or Senior Advisors- You must be involved in planning and get paid accordingly

Blue Print for a Profitable Practice

What we do

Why we do it

How we do it

Swain Law FirmAttorney

−Network−Referral Sources−Presentations−Client Meetings

Case Manager−Free Consultation−Data Collection−Screen Prospects

Swain Law Firm ProcedureNo Free Meeting with Attorney

Conference Calls require a Credit Card

Payment of ½ of Fees to start, then remaining due when documents delivered

Case Manager does data collection, screening and pre-condition

Swain Law Firm ProcedureProvide Free Assistance with VA Application

Hourly charge after Approval

Charge Appeals or Assistance with Annual Reports

Swain Law Firm MarketingVA Websites

Senior Networks

Articles

Lunch & Learns

Brochures for Advisors

Swain Law Firm MarketingFamily

Friends

Newsletter Articles

Swain Law Firm MarketingPresentations

1. Assisted Living Facilities

2. Civic Clubs

3. Churches

4. Financial Planners

5. Attorneys – Bar Associations

Questions ?

Thank You!