The intro meeting is the lifeblood of an advisory business. That 30-60 minute window with a complete stranger is either the most expensive or the most profitable activity you’ll ever engage in. Yet, I kept hearing advisors complain about these meetings. They would say things like: “I never like the way I feel during those …
Morningstar research reveals a direct link between savings behavior and mental time horizon. In fact, the research says mental time horizons are more influential than their age, income, and education. Thus, the more vivid and clear your future, the more likely you are to change your behavior. So, when you’re working with clients and planning …
When financial advisors meet with clients, it’s easy to focus solely on the numbers and neglect the feelings they elicit. It’s easy to focus on dollars at the expense of emotions. But every single client you work with has a relationship with money that extends beyond data, numbers, and dollar signs. But, it becomes evident …
Asking great questions is a superpower for financial advisors. When done right, asking great questions establishes likeability, accelerates trust, and uncovers personal, sensitive information. Three things that are absolutely critical to perform your job at the highest level. But, it’s not just about asking more questions. It’s about knowing how to ask great questions that …
In 2005, Josh Gilliam set out to research, read, and learn everything he could about behavioral finance, psychology, and communication. He was seeking to master the human side of advice. 18 years later, he admits it’s still a work in progress. But, he took what he learned and created the [Fi] Life Framework. A framework …
In 2005, Josh Gilliam set out to research, read, and learn everything he could about behavioral finance, psychology, and communication. He was seeking to master the human side of advice. 18 years later, he admits it’s still a work in progress. But, he took what he learned and created the [Fi] Life Framework. A framework …
If you work with people and their money to fund something now or in the future, it’s absolutely crucial that you understand the dynamic between goals and values. Once you can move beyond goals and understand what’s truly important to the person you’re meeting with, everything changes. In fact, once you embrace and internalize this …
As behavioral finance has moved into the mainstream, one thing has become clear. It’s great to know there’s a way to explain a client’s sub-optimal behavior. But, it’s an entirely different challenge to know what to do about it. In other words, behavioral finance has done a great job of providing advisors with a list …
Asking great questions is a superpower for financial advisors. But, it’s not enough to simply ask questions. The types of questions, the timing of questions, and the tone of questions all matter. In other words, there’s an art to asking great questions. Fortunately, Warren Berger is a Questionologist and the world’s foremost authority on questions. …
Every advisor always wants to know what questions to ask. But, more important than WHAT you ask is WHEN you ask it. A great question asked at the wrong time is no longer a great question. In this episode, we’ll go through six different steps of the client journey and arm you with three questions …