The most successful financial advisory teams are identified by well-defined goals, efficient processes, and strong vision and follow-through, but also by their team members’ ability to work together and have faith in each other to work with their clients.
Sometimes the best way to build this trust is to understand about one another what you are working closely to learn about your clients and their families. This not only provides a team building opportunity, it furthers your confidence in your team’s ability to have these types of conversations where it really counts… with your clients.
The following questions are from a popular game called Table Topics “Questions to Start Great Conversations” We’ve selected questions we think are best for generating conversation with your clients and your teams. For those of you in Relationship Manager roles or coaching roles, these are also great questions to use with your financial advisor clients to give them some perspective on their experiences with their clients.
Values & Advice:
Do you think it is better to save, spend, or give?
What’s the most significant problem facing the world?
Is giving your time more valuable than giving your money?
When is it okay to borrow money?
What was the most important thing someone taught you about money?
What advice would you appreciate from a happy and successful 80-year old?
What financial advice would you give to someone younger?
Would you like to be proudest of you’re accomplishments or your character?
How do you define integrity and do you have it?
Family & Money:
What did your parents teach you about money?
How did your family’s financial status affect you as you were growing up?
Is it important to talk about money as a family?
How does your family make decisions?
Is the way you make family purchasing decisions effective and fair?
Should you tell other members of your family how much money you make?
Do you think one or both persons should handle the finances in a marriage?
At what age should children start working?
How do you decide the appropriate amount of allowance?
What’s your greatest strength as a family?
If you could start a new family tradition what would it be?
What will your family be like 10 years from now?
Practice & Planning:
At what age should you develop a budget?
Do your credit cards tempt you to buy things you can’t afford?
What’s your biggest money related stress?
What are some small ways you save daily to make a big difference?
What are you saving for?
If you needed to earn some extra money what would you do?
When is it okay to borrow money?
What are the challenges of having money?
At what age do you hope to retire?
Is retirement still a meaningful concept?
Spending & Success:
What does it mean to be rich?
What is the best investment you’ve ever made?
What remains undone that you’ve wanted to get done for years?
What would you most like to accomplish in the next 12 months?
If you didn’t have to work what would you like to do?
Powerful Coaching Questions from this Article:
1. How knowledgable are you about your team in terms of their ability to interact with your clients?
2. Are you comfortable asking yourself the information you request of clients?
3. Do you have tactics to navigate uncomfortable topics or awkward moments with your clients in a way that makes them feel safe and cared for?