TITLE

Calibrating Comfort

AUTHOR(S)
Hayden, Vern C.
PUB. DATE
February 2004
SOURCE
Journal of Financial Planning;Feb2004, Vol. 17 Issue 2, p34
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Clients of financial planners often do not reach their objectives because they hide inside their comfort zone. The challenge for planners is to legitimately expand their comfort zone so they can encompass the ideas and strategies necessary for reaching their goals. There are six ways to help planners figure out how to help clients reach their goals: (1) Communicate to people in a way that makes listening comfortable for them, (2) Educate clients on relevant points, (3) Clients expand their comfort zone when they can participate in the planning process, (4) Take as much time as needed, (5) Excellent service leads to long-term comfort and (6) Be flexible. The four personality styles identified in the book 'The Platinum Rule,' written by Doctor Tony Alessandra, are: (1) Directors, identified as firm and forceful, confident and competitive, (2) Socializers, identified as outgoing, optimistic and enthusiastic people, (3) Relators, identified as genial team players who like stability more than risk and who care greatly about relationships with others and (4) Thinkers, identified as self-controlled and conscious. Being sensitive to how comfortable a client is in the relationship, will help determine effective implementation and ensure a long-term relationship.
ACCESSION #
12246774

 

Related Articles

  • Saving and Serving. McNeely, Juli // Advisor Today;Mar2010, Vol. 105 Issue 3, p64 

    The article offers suggestions on how to encourage clients to buy a plan after saving. It suggests getting in front of the clients because they want to talk an advisor and want to put their financial house in order. It also recommends helping clients to set their financial goals and encouraging...

  • On Helping Your Retirees. Duska, Ronald F. // Journal of Financial Service Professionals;Jan2011, Vol. 65 Issue 1, p24 

    Aside from encouraging your client to plan, is there more you should do? As a professional advisor, you are necessarily concerned about looking out for the interest of the advisee. However, how far must that concern go? Need it go past the concern for the financial interest? What sorts of...

  • Generational Reciprocity: What Does It Mean in the 21st Century? Timmermann, Sandra // Journal of Financial Service Professionals;Sep2009, Vol. 63 Issue 5, p25 

    The author offers opinions on intergenerational family relations and their effect on financial planning. The trend towards multigenerational family living situations in which grandparents, parents, and children, or grown children and parents share the same dwelling is praised as a humane and...

  • Handling Inherited Windfalls. Hersch, Warren S. // National Underwriter / Life & Health Financial Services;1/31/2005, Vol. 109 Issue 4, p29 

    Focuses on the advisory on handling the impact of windfall on the client's financial discipline and long-term planning. Restriction of boomer clients from incorporating an inheritance into their financial planning; Designation of a disinterested third party as a trustee; Diversification of the...

  • A Relationship of Shared Experience. Pullen, Courtney // Journal of Financial Planning;Feb2001, Vol. 14 Issue 2, p50 

    Deals with the strategies applied by financial planners in which they focus on their client relationships and the implications of their work on the nonfinancial portions of a person's life. Psychological issues considered by financial planners; Models of communications used in the field; Example...

  • Retirement Destinations. Diliberto, Roy; Anthony, Mitch // Journal of Financial Planning;Nov2004, Vol. 17 Issue 11, p30 

    This article discusses how financial planners can help their clients plan for retirement. Often, financial planners and clients discuss retirement as an economic destination, which often results in clients arriving at an economic goal but being homeless in an existential sense--ill at ease with...

  • Instant planning. Richards, E. Gordon // CA Magazine;Sep94, Vol. 127 Issue 7, p57 

    Discusses the importance of comprehensive financial planning. Business opportunity for chartered accountants; Delivering of financial services within clients' cost constraints; Advantages of computerized comprehensive financial plans; Requirements for the preparation of a computerized...

  • Tools of the trade. Sangha, Sim // Money Marketing;2/24/2011, p58 

    The article reports on the emergence of personal financial management (PFM) tools which is set to alter the way traditional financial advice in Great Britain in 2011. It states that PFM tools help advisory firms solve a problem while remaining relevant to the everyday lives of the people and...

  • Case Study: How to make the most of fixed protection. McAinsh, Darren // Money Marketing (Online Edition);1/16/2014, p67 

    The article presents a case study discussing how make the most of fixed protection in Great Britain. It is said that financial advisers should know the deadline for fixed protection 2014 as this can offer interesting planning opportunities for clients. The case refers to a 55-year-old single...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics