The Holistic Advisor Asks More Questions About Life

The best advisors go far beyond providing mutual funds, annuities and other investment vehicles to their clients. They know ALL their plans, goals, fears, family, CPA and attorney and all financial and life matters that are most meaningful. For the advisors that do this, they’ll have little competition and as a result will lose fewer clients to other advisors.

I created a presentation in 2000 after an amazing experience I had with a financial advisor I hired to manage my assets. He asked me numerous lifestyle questions and after sharing an hour with him, I knew he cared about me, my family and the things that matter most in life. It wasn’t about performance at all, although their returns were competitive in the investment world.

Some of the questions you may want to ask your prospects and clients are:

1. How was money handled when you were a youngster?

2.  When would you like to retire? When you do retire, what would you and your wife like to do? (That opened up a whole long list of dreams, goals, plans and hopes. The best thing he did was simply listen, pay attention and take notes.) Remember, research shows that most salespeople tend to speak (not listen) 85% of the time. He listened and actually paid attention.

3.  What is your greatest fear? (Although I am financially successful, my greatest fear was to be broke again. It was terribly painful as a kid and I never want my kids to experience that hardship.)

4.  Tell me about your children? What are your goals for them?

5.  What type of legacy would you like to leave?

6.  Are there any scholarships you would like to establish?

7.  What are you expecting from an advisor?

8.  How is the health of your parents? If anything happened, would they move in with you? Are you financially prepared if “yes”?

9.  How often would you like to hear from or see your advisor?

 10. If we were to meet here three years from today, what would have to happen to your portfolio and in our relationship for you to feel like this relationship has been successful?

I believe you get it from here but there are plenty of other questions to ask. This is a much more holistic approach and as I said earlier, if done correctly you will increase the likelihood of gaining clients for life.

All the best ~