As I travel around the country presenting retirement workshops, I am lucky to meet a host of different people who have a of insights and valuable information to share. They also tend to ask for my advice.
To make the most out of the opportunities to connect with federal employees (and the talented financial professionals who help them), I have worked hard to train myself to be a good listener.
We all are hard-wired to talk, but to be a good financial planner you also need to be a good listener.
Listening carefully to your clients not only shows you care, but can offer you insights to what their real struggles and concerns are as they plan for retirement. So how can you become a better listener?
Here are a few steps to follow to be a better listener:
- Help clients and prospects to feel comfortable by laying the groundwork of what to expect in your conversation. This helps bring the defenses down, and allow them to comfortably open up since they know what to expect.
- Move beyond yes/no questions. When you ask open-ended questions, you give your clients the freedom to tell their stories in their own way. Listening carefully will reveal their struggles, hang-ups, objections and fears.
- Don’t just hear — listen. Resist the urge to interrupt. Don’t be afraid of silence, some people need time to gather their thoughts.
- Reflect and follow up. Think about what has been said and ask follow up questions to make sure you understand what the client is trying to explain. Remember it is not just about the money for them. This is deeply personal since many people haven't had a great relationship with money.
- Make sure your body language is sending the right message. Be open and approachable in you mannerisms.
- Before ending the conversation, ask a wrap-up question to give them another opportunity to share what's on their mind. Something like “Is there anything else you want to cover today?” or “anything I missed that you want to share?”.
Like any new skill, improving your listening may take practice and patience. If possible, record a few client conversations and listen to them. Do you find you interrupt them? Do you ask questions only so you can then give your opinion without regard to your clients' answers? Do you bulldoze your way through the appointment so you can talk about what's on YOUR agenda? We're all guilty from time-to-time.
Clients and prospects know when you're really listening, and you'll be rewarded in the end. The people you choose to really listen to will feel more open to your recommendations and advice because they genuinely feel like you asked meaningful questions with the intent to better understand them.
Financial Professionals: Schedule a 30-minute consultation with Chris Kowalik of ProFeds to see if this proven, step-by-step system is right for you.
Ready to get started? The ProFeds Bootcamp is where all of the magic begins! This training program is limited to the first 10 financial professionals who qualify, so reserve your seat today! CLICK HERE for details about our next available class.
About the Author: Chris Kowalik, founder of ProFeds, is the industry's leading business coach for financial professionals who specialize in working with federal employees. She is a frequent speaker for financial services firms and federal agencies throughout the country.