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ChFC HS 300: Financial Planning: Process and Environment > Ch.2 - Communicating Effectively with Clients > Flashcards

Ch.2 - Communicating Effectively with Clients Flashcards

1
Q

What are the four ways an advisor must promote trust?

CARS

A
  1. Communicating effectively
  2. Alleviating concerns
  3. Responding to the social style
  4. Structured communication
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2
Q

This is the design of the subject matter and format of the communication.

A

structuring

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3
Q

What are the three types of structured communication?

CIA

A
  1. Counseling
  2. Interviewing
  3. Advising
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4
Q

This usually involves the process of asking questions to gather information.

A

Interviewing

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5
Q

This type of structure communication involves a short meeting, formal setting, no digressions, and uses a question and answer format to gather information.

A

Interviewing

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6
Q

With this type of interviewing, the advisor controls the pacing and content discussed. The client usually completes a questionnaire.

A

Directive interview

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7
Q

With this type of interviewing the client controls the pacing, it’s more time-consuming, more in depth, and a wide range of topics are usually discuss.

A

Non-directive interview

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8
Q

This involves an offer to help someone.

A

Counseling

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9
Q

This type of communication is less formal and uses discussion, insight, and reflection as a primary method of communication.

A

Counseling

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10
Q

This type of structured communication takes place over a long period of time.

A

Counseling

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11
Q

Does counseling include helping with credit card problems?

A

Yes

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12
Q

This type of structure communication involves giving specific guidance.

A

Advising

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13
Q

When an investment advisor recommends a certain mutual fund to a client what type of structure communication is this?

A

Advising

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14
Q

What will create a dependency of the client on the advisor?

A

Giving too much advice, too early on in the relationship.

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15
Q

What domain of financial planning uses structured communication method advising?

A

Domain 4: Developing the Recommendation(s)

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16
Q

What are the 4 barriers that can create tension between an advisor and a client?
(FRNT)

A
  1. Fear of making a decision or fraud
  2. Resistant to change
  3. Negative image of salespeople
  4. Time constraints
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17
Q

What are the four social styles?

ADEA

A

Analytical
Driving
Expressive
Amiable

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18
Q

How should you handle someone that is forceful, direct, and wants power?

Driving

A

You should be efficient and provide details and options. Asking questions to steer the conversation.

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19
Q

How should you handle someone that is outgoing, enthusiastic, and once recognition?

Expressive

A

You should take time to listen and question them

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20
Q

As an advisor how do you handle someone that is easy-going and supportive?

Amiable

A

You should cooperate and offer acceptance

21
Q

How would an advisor handle someone that is analytical, logical, quiet, and wants respect?

Analytical

A

You should be accurate and have an agenda - structured communication.

22
Q

Clients are more likely to accept an advisor’s recommendations if the advisor demonstrates an interest in…

A

the client.

23
Q

Effective communication involves much more than just explaining products and services. An advisor must develop…

A

good listening skills.

24
Q

A client can have resistance towards an advisor that is often expressed…

A

Overtly or Covertly

25
Q

The advisor should recognize patterns in the behavior of the client and share these observations in a…

A

Non-judgmental manner

26
Q

What is a particularly sensitive topic for clients?

A

Death or dying

27
Q

What is the easiest type of resistance one can recognize with a client?

A

Overt hostility

28
Q

If a client expresses anger openly, what type of hostility resistance is this?

A

Overt hostility

29
Q

This type of hostility generally the most difficult to recognize which includes cynicism and missed appointments.

A

Covert hostility

30
Q

What is the best way to deal with the clients anger?

A

Deal with it directly by focusing on the clients behavior and letting the client interpret it.

31
Q

What are the four attributes of an effective advisor?

UGAS

A
  1. Unconditional positive regard
  2. Genuineness
  3. Accurate empathy
  4. Self-awareness
32
Q

Definition: An attitude of appreciating the client as a worthwhile person.

A

Unconditional positive regard

33
Q

Definition: When an adviser’s sense of the client’s world matches the client’s self-image. This involves listening very carefully.

A

Accurate empathy

34
Q

Definition: When an advisor has to be a real person.

A

Genuineness

35
Q

Definition: When an advisor should be aware of their own value system, so they will not impose their values on their clients.

A

Self-awareness

36
Q

Is listening a form of communication?

A

Yes

37
Q

True or false.

People generally assume their communications are understood by others.

A

True

38
Q

What leads to the most effective communication when listening to your client?

A

Paraphrasing

39
Q

The majority of communication occurs through…

A

Nonverbal means

40
Q

What type of listening he will use to interpret nonverbal behaviors?

A

Active listening

41
Q

Name the five types of responses.

CCRRS

A

5 Types of Responses:

  1. Continuing
  2. Clarifying
  3. Restatement-of-content
  4. Reflection-of-feeling
  5. Summarization
42
Q

Definition: When the advisor takes the lead and deviates from the client’s responses to another topic.

A

Leading responses

43
Q

What are the four types of leading responses?

RISE

A

4 Type of Leading Responses:

  1. Reassuring
  2. Interpretive
  3. Suggestive
  4. Explanatory
44
Q

Questioning is another type of communication technique. If done incorrectly, how can it affect the advisor/client relationship?

A

It could put the advisor in the role of the authority figure and the client as a passive subordinate.

45
Q

What are the six types of questioning used as a type of communication technique?
(OCLWQT)

A
  1. Open-ended
  2. Closed-ended
  3. Leading
  4. Why
  5. Question Bombardment
  6. True/false or either/or
46
Q

Why is structuring communication important?

A

Develops rapport
Puts the client at ease
Offers a sense of direction

47
Q

What are some sources of resistance from a client?

A

Death and dying
Marital tensions
Failure to meet their expectations

48
Q

Physical attending, interpreting non-verbal queues, using various forms of questioning or leading responses are all methods of…

A

Good communication

49
Q

What is physical attending?

FLORE

A 
Face the person
Lean in
Open posture
Relaxed
Eye contact

ChFC HS 300: Financial Planning: Process and Environment (12 decks)

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