by Jeff Dorman
The last post in this series--the first post is here and the second post is here-- is all about communication.
As discussed in the previous two posts, you can have the right consultative mindset, and a strong meeting process, but without being adept at balancing a set of crucial communication skills, an FA (financial advisor) will stumble. FA’s talk more than anything else. It turns the client off. It’s that simple. The communication skills that distinguish an average FA from a great one are:
• Listening – not just focusing and “getting what they’re saying”, but truly demonstrating to the client that you “got” what they’re telling you. We call this skill “reflecting”.
• Questioning – being able to naturally lead the client to reveal all kinds of key information. Not just the financials, but their hopes, dreams, and fears. And, not making it an interrogation but a conversation.
• Speaking – you can call this suggesting, advising, recommending, pitching, sharing or explaining. Whatever you call it, it needs to be clear, concise and relevant. And followed by checking and listening.
• Flexing – the ability to FLEX (adapt) your communication style and build rapport based on the client’s communication style and preferences is one of the toughest, yet most high leverage skills you can have in your toolkit.
The best FA’s are incredibly “self-aware” of their behavior in front of clients and balance these four skills elegantly. They develop trust. They grow their share of wallet.
Happy to answer any questions about any of this, and would love comments as well.
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