Uncovering and understanding your clients’ needs are paramount to successful client relationships. The skills associated with this process revolve around effective listening and questioning. Why are these important? In client meetings, the focus should be on building rapport, understanding needs and discussing ideas. We believe those abilities can be cultivated and achieved through active listening.
When listening for understanding, we focus on three key areas: (1) paying attention to the client’s financial situation, goals and priorities; (2) identifying whether there are opportunities for the clients and the advisor, and (3) asking follow-up questions that expand your understanding. We believe the third item – follow-up questions – can deliver particularly useful insights.
To help you better listen for understanding, our process involves three levels:
|1. Understanding your clients’ broad financial situation||2. Understanding the areas which your clients consider important|
|3. Understanding your clients’ “Must Haves”|
For illustrative purposes only.
Workshop to help you build business and drive sustainable growth in advisor practices. Contact your GSAM representative for more information.