1: Set The Stage & Gather Client Information (10%) Flashcards
How can you build trust and rapport with a new client instantly?
A. Ask about their job
B. Reassure them
C. Engage in a meaningful conversation about their personal background
D. Discuss finances immediately
C. Engage in a meaningful conversation about their personal background
Set the stage & Gather Client Information
What’s the secret to uncovering your client’s true financial goals?
A. Provide suggestions
B. Ask about their job
C. Ask open-ended questions that dig deep into their aspirations
D. Talk about current investments
C. Ask open-ended questions that dig deep into their aspirations
Set the stage & Gather Client Information
How do you ease a client’s discomfort about sharing sensitive financial details?
A. Ask directly
B. Reassure them with a powerful commitment to confidentiality
C. Avoid the topic
D. Discuss other clients’ experiences
B. Reassure them with a powerful commitment to confidentiality
Set the stage & Gather Client Information
Which tool will empower you to gather comprehensive financial insights from your client?
A. Bank statements
B. A tailored financial questionnaire that hits all the right points
C. Income reports
D. Credit score
B. A tailored financial questionnaire that hits all the right points
Set the stage & Gather Client Information
What’s the magic of using open-ended questions in client interviews?
a. They provide clear answers
B. They open the floodgates to deep, revealing conversations
C. They save time
D. They are easier to answer
B. They open the floodgates to deep, revealing conversations
Set the stage & Gather Client Information
When should you pledge your commitment to confidentiality with a client?
A. After the first meeting
B. As soon as they walk through your door
C. When signing documents
D. After discussing finances
B. As soon as they walk through your door
Set the stage & Gather Client Information
Spot the signs: How do you know if a client might be holding back?
A. They provide detailed responses
B. They give you vague answers
C. They ask questions
D. They are eager to share documents
B. They give you vague answers
Set the stage & Gather Client Information
How do you gracefully handle contradictory information from a client?
A. Ignore the contradictions
B. Tactfully ask them to clarify
C. Point out the errors directly
D. Change the topic
B. Tactfully ask them to clarify
Set the stage & Gather Client Information
What’s your move when a client refuses to share crucial financial details?
A. Push for answers
B. Explain the vital importance of full transparency
C. Ignore the missing information
D. Move to the next question
B. Explain the vital importance of full transparency
Set the stage & Gather Client Information
Which document is a non-negotiable in your first client meeting?
A. Bank statement
B. Last year’s tax return to kickstart your deep dive
C. Credit report
D. Investment portfolio
B. Last year’s tax return to kickstart your deep dive
Set the stage & Gather Client Information
When should you refresh and update your client’s financial info?
A. Every two years
B. At least once a year, or more if life changes hit
C. When requested by the client
D. Every six months
B. At least once a year, or more if life changes hit
Set the stage & Gather Client Information
What’s your best practice for gathering precise, actionable client data?
A. Cross-check everything with their documents
B. Ask for verbal confirmations
C. Rely on previous financial records
D. Use only online tools
A. Cross-check everything with their documents
Set the stage & Gather Client Information
What’s your focus when setting the stage for a powerful client relationship?
A. Discussing finances only
B. Building trust, empathy, and understanding
C. Creating financial documents
D. Reviewing investments
B. Building trust, empathy, and understanding
Set the stage & Gather Client Information
What tells you your client is deeply engaged in the counseling process?
A. They seem distracted
B. They ask questions, showing curiosity and desire to learn
C. They provide minimal responses
D. They avoid meetings
B. They ask questions, showing curiosity and desire to learn
Set the stage & Gather Client Information
How do you keep a client from feeling overwhelmed during your sessions?
A. Discuss all details in one session
B. Break down complex information into digestible pieces
C. Avoid discussing difficult topics
D. Focus on investments only
B. Break down complex information into digestible pieces
Set the stage & Gather Client Information