There are specific and predictable keys that result in inspiring financial planning meetings every time.
By paying attention to and making consistent progress with each key you are:
1. No longer leaving the quality of your meetings to chance.
2. Raising the bar to an exceptionally high level.
In this article I list the 8 essential keys that contribute to an inspiring, repeatable, and productive process.
Key number 1 – The meeting tone
Yours and your client’s state of mind is the single biggest factor in creating inspiring financial planning meetings. This is the tone of a meeting.
Robert C. Kausens book writes in his book ‘We’ve got to start meeting like this‘:
“The higher and lighter the meeting tone, the more creative and proactive participants are and the better they feel about the meeting. A low-tone meeting, regardless of how much is accomplished, can leave people worn out and feeling it was a waste of time – or at least not worth the effort.”
As the professional person it is us who sets the tone. When we are in a clear, present, and free state of mind we are best able to guide our clients into their clarity of mind too.
Key number 2 – Establish what your client wants from the meeting
Your client is giving up their valuable time to be in the meeting, so it is respectful to clearly understand why.
If you fail to establish the clients reason(s) for being there you are likely to be making assumptions and these can easily be incorrect or incomplete. So, essentially you are asking, “Why are you here?”
There are many ways to ask the same question:
“What would make this meeting a brilliant use of your time?”
“How can I help you?”
“What is on your mind?”
The form of the question is far less important than the intention behind it.
Key number 3 – Elicit your clients ultimate external goal
When asking your version of “Why are you here?” you may well get an answer that relates to a product of financial situation. One example might be if a client says, “I’m here because I want to sort my pension out.”
Yet money is simply a means to an end, not an end in itself. So, what is the end that the client wants to accomplish? If, for example, they want to talk about products and investments then explore, “For what purpose?”
You can continue to go deeper by using a simple two word question. Click here to find out more.
Key number 4 – Understand the goal behind the goal
External goals have no inherent value. They are always the vehicle for what your client ultimately wants, which are feelings. They want to move towards and experience feelings they value and away from feelings they don’t. An example of a ‘move toward’ is peace of mind and an ‘away from’ is worry.
You cannot guess or assume what feelings your client wants or doesn’t want . So, the reason to ask is to understand your client AND because you want them to have an emotionally engaging experience.
If you listen carefully people are always communicating their values. You can also use questions like, “What is important to you about… ? ” or “What do you get from that or what does it do for you?”, to elicit values.
An inspiring financial planning meeting happens when a client connects with their values because it creates meaning and this is fundamental to good decision making.
Key number 5 – Discover the obstacles
When you explore what your client wants then it is useful to ask, “What could stop you?” or “What do you see as the obstacles?”
There are the universally recognised ones – premature death, illness, loss of income – but it can also be surprising what can come up when you ask.
If you do not know what your client perceives as the obstacles, then how can you help them avoid them or deal with them?
Key number 6 – Listen without judgement
Habit 5 in Stephen Covey’s book, ‘The seven habits of highly effective people‘ is “Seek first to understand, then to be understood.”
Listening to people without judgement takes commitment and consistent practice. Many professional people are too quick to diagnose. By listening with greater curiosity you’ll create greater impact, build deeper rapport, and get greater buy-in to your advice.
Key number 7 – The less of you the better the meeting
The more of you there is in an interaction – your agenda, your perceived needs, your process, your urgency – the more it will lower the tone.
David H. Maister, co-author of ‘The Trusted Advisor‘ points out:
“A common trait of all these trusted advisor relationships is that the advisor places a higher value on maintaining and preserving the relationship itself than on the outcomes of the current transaction, financial or otherwise.”
Key number 8 – Agree the next step
At the end of the meeting are you and your client crystal clear on the next step?
You never want to leave a meeting with you or your client having expectations. For example, expectations of who will do what, when it will be done by, or the steps involved.
Expectations lead to all sorts of undesirable consequences, disappointment being a big one. So, creating clear agreements will work wonders for your relationships.
PS. If you are ready to begin integrating these steps into your client meetings then I invite you to join us at the next ‘Client Engagement Masterclass‘ (begins 01st April 2025).
Click here for full details and to reserve your place.
