How to have sensitive conversations about money $$ – for Financial Advisors

Nothing makes people feel more vulnerable than talking about their finances, right? Your clients reveal their spending habits, their hopes and dreams – which can lead to sensitive conversations around spending and saving. They look to you to be understanding and not judgmental. So how you do have those sensitive conversations?

Start with mindset. We know that our mindset, our assumptions and beliefs, influence our behavior, like how we spend or save money.  As a financial advisor, you have to uncover your client’s mindset.  You also need to be aware of your own mindset, which may influence the questions you ask and your reaction to their responses. Here are two questions to get you started:

  1. We know that money is symbolic.  What does $ represent to you?
  2. What messages about $$ did you learn from your parents? How do those impact your interaction with your clients? What is your own relationship with over-spending?

Ask yourself these questions first, and then be sure to ask your clients.

While I’m not a #financialadvisor, my expertise in #coaching and #behaviorchange helps me help advisors better serve their clients.  I deliver workshops on how to have these #sensitiveconversations and coach advisors on this topic.  Let me know if/how I can be helpful.

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