Do you know what makes your clients really tick? Why do some clients listen to what you say and stick with the plan, while some never seem to really buy in to the process?
The reason it pays to know a client’s money “personality” is that it gives you an insight into why clients behave as they do when it comes to making decisions about money.
If you know your client’s money personality, there’s a better chance of more effectively communicating the strategy and thinking behind a financial plan; and with that comes a better chance that a client will understand what the plan is aiming to achieve, and how, and therefore stay the course.
You can listen to the co-founder of www.moneypersonality.com.au, Matt Linnert, describe the concepts and the science behind this technique for profiling clients. Linnert discusses the ins and outs and the four main personality types with Simon Hoyle, editor of Professional Planner magazine, in a series of three short podcasts.
CLICK HERE to go to the iTunes store to download the podcasts.
While you’re there, why not subscribe, at no cost, so you automatically receive new podcasts in future?
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