Talking About Money

Do you talk to clients about money?

If so, and you are in the regulated financial sector, then well done. You have had to study for years and pass numerous exams so you can talk to people about their money. You’ve learned how to discuss topics like investment, suitability, goals and cashflow planning. Maybe you even talk about financial wellbeing and can explain how diversification and portfolio management works.

That should be enough, but money is a tricky thing. Yes, it has numbers, but it’s not just about numbers.

It also represents more abstract concepts such as security, trust, power, status, identity, self-worth, freedom and control. And money means different things to different people. So, how and where do you learn to talk to people about power, identity, self-worth or enoughness?

How do you know what money means to them or how they feel about money? Because when a client tells you how they feel about something they are giving you a map of they things they care about and how they make sense of the world. And when it comes to advising them on their money it’s really important to know what they care about.

A client for whom money represents freedom is not the same as one who sees money as security.

When you learn to talk to clients about money in ways that go beyond numbers, then you can also take your client relationships to a whole new level of connection.

Connected clients:

·       Refer more

·       Pay more

·       Don’t quibble about fees

·       Consolidate assets

·       Listen to your advice

·       Follow the plan

When it comes to money it’s never just about the numbers.

Money Coaching gives you a framework for understanding a person’s patterns, behaviours and emotions around money. You can use that framework to have open money conversations with your clients that will help you to support them as they navigate even the most challenging life events. You will truly be a trusted partner.

Join us on November 7 at 1 pm for a free Introduction to Money Coaching webinar or contact me for further information.