The Client-centred Blog

Labels are for jars, not people

Have you ever been told you are not listening?

I have.

It did not feel good and I thoroughly deserved it.

I was new to coaching and was very enthusiastic about sharing my knowledge with my client. So enthusiastic that I thought what I had to say was more important than what he had to say.

Just recently I was watching a video with the brilliant Tom Chi.

Tom’s list of accomplishments is quite astonishing, including being a key developer of Microsoft Outlook, head of product experience for Google x and a leading a multi-billion-dollar global businesses in 44 countries.

One of the things Tom teaches his people is the power of creative listening and why… 

Knowledge is the enemy of learning

As professional people we have knowledge. We think this is the value we bring to clients, so we look for opportunities to share it.

This is exactly what I was doing when I got called out by my client.

I was listening out for problems and as soon as I heard one, I thought I could fix I jumped on it. 

Of course, our knowledge is valuable and there will come a time to share some of it, but…

As soon as we label something, we are saying ‘I know’ and we stop listening, we stop connecting and we stop being curious. As Tom Chi points out, we are also forfeiting our mental agility.

What do we tend to label?

Almost everything. We label people. We label problems. We label ourselves.

A client said to me “I’m disorganised!”, as though it was a quality genetically determined at birth!

I could have assumed that I knew what they meant by ‘disorganised’, but that would most likely be completely different to what they actually meant.

So, I asked a question instead…

“What do you mean?”

This is one of the most powerful questions you can ask someone. Instead of making an assumption you ask for clarification. You open the possibility of learning more about someone and connecting with them at more than a transactional level because you want to understand them.

Why does this matter?

Your competitors have the same or similar products to you. So, what will make you different?

We live in a world where most people are trying to make an impression and do a lot of talking. Yet a criticism you will never hear is that ‘You listened too much’. 

P.S. It is useful to notice where we tend to label things and intentionally stay curious instead. For example, if a client wants to talk about retirement then what does that mean? What precisely do they mean by ‘retirement’? Go deeper with this exploration than you ever have before. 

Facebook
Twitter
LinkedIn

Leave a Comment

Related articles

Time management for financial planners - why helpful tips are not the answer
How often have you felt like you had way too much to do, way too little time to do it, and you've stressed out as a result?
The biggest challenge (and opportunity) in the financial planning process
In a perfect world a client goes through the financial planning process and implements the recommendations and advice they are given. As a result, they are happy and achieve their goals. Yet we are not living in a perfect world, which presents both a challenge and an opportunity for financial planners and their financial planning process.
20 bad financial adviser inter-personal habits
In this weeks’ blog I am looking at... 20 bad financial adviser inter-personal habits Look and see if any of these apply to you. Corrective action can make an enormous difference to your success.
A simple formula for making more money
Would you like your career as a financial planner or adviser to be more financially rewarding? I sometimes have conversations with advisers who are not enjoying what they do. Some even say they are thinking of leaving the business altogether. Often, at the root of this is that they are not making enough money.
Integrity: It is more important than we think 
As professional people we value integrity, right? We like to think of ourselves as being a person of integrity and we want other people to act with integrity towards us. To me, this seems at the very core of trust.
Value creation: the key to happy, loyal clients
This article is about value creation and why it is the key to happy, loyal clients and a thriving practice. Over the past couple of weeks, I have had two services come up for renewal. One was my car breakdown cover and the other was my car insurance. In both cases the premium had increased by almost 30% from last year. So, I rang both providers and invited them to reconsider their offer.
The most dangerous word in the English language
When we think back to when we were little kids, we never knew what limitations were. In fact, to little kids the very idea of a limitation is absurd. Our imaginations knew no boundaries and we lived in a world of pure possibility. You could be a superhero, be invisible, fly, or travel in time like Doctor Who.  As such, life was full of joy, curiosity, and wonder.
The timeless wisdom of Charlie Munger
Charlie Munger (now 99 years young) is a billionaire businessman, vice chairman of Berkshire Hathaway and business partner of Warren Buffett, one of the greatest investors of all time. He is asked about the secret to a long and happy life, and he replies: ...
How to have clients sell financial planning to themselves
A realisation that has been extremely helpful to me is that you can never want something for your client more than they want it for themselves. In this way, financial planning is almost certainly going to be most beneficial when a client sells it to themselves. This article explores why this is and one of the most effective ways to have it happen.
Twenty signs you are on the path to truly great financial planning
What is the difference between 'average' financial planners and those who become truly great at what they do? I have been reflecting on this question for a while now and wanted to share my thoughts on this with you. I think it begins with the 'want to'. Do you truly want to become great at what you do?
My favourite Warren Buffett quote and why it matters
Warren Buffett is one of the most successful investors of all time and one of the world’s wealthiest individuals. He also has some very astute observations about life. My favourite is his observation that: 'Busy is the new stupid.' One time he was in discussion with another super successful person, Bill Gates, and they touched upon the subject of productivity.
A simple guide to living in flow
Would you like to spend far more of your time in a state of 'flow'? Flow is the experience of being totally absorbed in the moment, when time seems to stand still, and nothing else seems to matter. I was reading about the legendary tennis player Billie Jean King and how she described her experience of a game...
Why I stopped meditating
Last week I had a wonderful conversation with a friend who has a vast amount of experience as a coach and has worked with thousands of people. She observed that in her experience every single person always wants the same thing in the end. Ultimately, we all want to feel clear minded, present, happy, content, and free from the burden of worry and stress. Who doesn't want more of this?
The most popular client-centred blog posts of 2022
What have financial planners been most interested in over the past year? The following are my most popular client-centred blog posts of 2022. Most importantly, none of this would be possible without you. Thank you for your valuable time and attention - you are very much appreciated.
The 12 client-centred mind shifts - part 4
When 'The Client-centred financial adviser' was published back in 2015 the core message in that book was that who you are being is massively more significant than what you are doing. I even wrote a chapter titled, 'Being is the new doing'. For many years in my own business, I had focused upon doing with no real thought as to how I was being.
5 truths to help financial planners prosper in turbulent times
What prompted this article were a number of conversations I have recently had with financial planners who were worried about the current trading environment.  So, how do financial planners prosper in turbulent times when the economy is contracting, clients are tightening their belts, and media is spreading doom and gloom?
What makes a client want to engage a financial planner?
A successful financial planner I work with remarked to me that no one ever approaches him for a financial planning engagement. Instead, there is usually a trigger event that leads a client to thinking they want a financial product, financial issue solved, or investment advice. So, how do you shift the conversation?
How to transcend the financial planner comfort zone
Our comfort zone can be very limiting. For instance, it can hold you back from realising your greater potential, making a bigger difference to your clients, and experiencing greater success. So, in this article I explore what a financial planner comfort zone is and what it takes to transcend it. 
How to deal with imposter syndrome
Do you ever feel like an imposter in your role, that you will get 'found out', or do not deserve your success? If so, you are far from alone as this is extremely common amongst business people.
Want more financial planning referrals? This MUST happen first
Good financial planning referrals from happy existing clients are one of the best ways to grow your practice. Yet to create a regular and increasing flow of quality referrals there is something that MUST happen first. Let me share a story.
Resilience: An essential key to building a financial planning practice
Have you noticed how resilience has become a hot topic in business? For instance, there are TED talks on it, articles in the Harvard Business Review, and covid brought into sharp focus how unforeseen events can literally change our lives in a moment. This article explores a deeper understanding of resilience and why it is key for building a financial planning practice.
How to sell more financial planning: stop giving advice
Do you want to sell more financial planning and boost your income? If so, then stopping giving financial advice might seem totally counter-intuitive, right? In this article I explore why holding back from giving advice can consistently help you sell more financial planning and serve your clients better.
How do you become a great financial planner... not just good?
How do you become a great financial planner? One who has a powerful, positive impact in the lives of your clients? Of course, there are many attributes but one in particular stands out. Read on to discover what this is and why it is so important. What do clients look for in a financial adviser?
Clients are not willing to pay fees for financial planning - really?
“Clients are not willing to pay fees for financial planning!” This was the bold claim of an adviser in a post I recently read on LinkedIn. You might refer to this as a 'gross generalisation' because, quite clearly, there are many people who do already pay fees for financial planning.
Better time management for financial advisers and planners
As a financial planner are you as productive as you would like to be? Would you like to get more done, in less time, and with none of the stress? In this article I am going to explore the hidden factor that leads to genuinely better time management for financial advisers and planners.
How to successfully sell financial planning
Genuine financial planning is very different from providing purely transactional financial advice. So, how you sell financial planning is a different kind of conversation too. Would you like it to be easier to sell financial planning engagements?
Building a financial planning business - overcoming the biggest obstacle
Building a financial planning business is not easy! In fact, you are far from alone if you find it challenging. This article explores one of the biggest obstacles of all and how to rapidly get back on track.
Getting financial planning clients - the only obstacle
Getting financial planning clients is the number one challenge for many advisers. But why is it such a challenge? It is not for the reasons that most people think...
To succeed you must have self belief... really?
If you have a goal or outcome that is important to you and you want to go for it, then what does self belief and whether you have it or not have to do with it?