Flashcards in Module 2 (Effective Communication) Deck (45):
What are the four ways an advisor must promote trust?
1. structuring communication
2. alleviating concerns
3. responding to social style of the client
4. communicating effectively
This is the determination of the subject matter and format of the communication.
What are the three types of structured communication?
This usually involves the process of asking questions to gather information.
This type of structure communication involves a short meeting, formal setting, no digressions, and uses a question and answer format to gather information.
With this type of interviewing, the advisor controls the pacing and content discussed. The client usually completes a questionnaire.
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.
This involves an offer to help someone.
This type of communication is less formal and uses discussion, insight, and reflection as a primary method of communication.
This type of structured communication takes place over a long period of time.
Does counseling include helping with credit card problems?
This type of structure communication involves giving specific guidance.
When an investment advisor recommends a certain mutual fund to a client what type of structure communication is this?
What will create a dependency of the client on the advisor?
Giving too much advice, too early on in the relationship.
What domain of financial planning uses structured communication method advising?
Are the 4 barriers that can create tension between an advisor and a client?
Fear of making a decision
Resistance to change
Negative image of salespeople
Fear of fraud
What are the four social styles?
How should you handle someone that is forceful, direct, and wants power?
You should be efficient and provide options.
How should you handle someone that is outgoing, enthusiastic, and once recognition?
You should take time to listen
As an advisor how do you handle someone that is easy-going and supportive?
You should just cooperate
I would an advisor handle someone that is analytical, logical, quiet, and wants respect?
You should be accurate and have an agenda.
Clients are more likely to accept an advisor's recommendations if the advisor demonstrates an interest in...
Effective communication involves much more than just explaining products and services. An advisor must develop...
good listening skills.
A client can have resistance towards an advisor that is often expressed...
Overtly or Coverly
The advisor should recognize patterns in the behavior of the client and share these observations in a...
What is a particularly sensitive topic for clients?
Death or dying
What is the easiest type of resistance one can recognize with a client?
If a client expresses anger openly, what type of hostility resistance is this?
This type of hostility generally the most difficult to recognize which includes cynicism and missed appointments.
What is the best way to deal with the clients anger?
Deal with it directly by focusing on the clients behavior and letting the client interpret it.
What are the four attributes of an effective advisor?
Unconditional positive regard
Is an attitude of appreciating the client as a worthwhile person.
Unconditional positive regard
This is when an adviser's sense of the client's world matching the client's self image which involves listening very carefully.
This is when an advisor has to be a real person.
This is when an advisor should be aware of their own value system, so they will not impose their values on their clients.
Is listening a form of communication?
True or false. People generally assume their communications are understood by others.
What leads to the most effective communication when listening to your client?
The majority of communication occurs through...
What type of listening he will use to interpret nonverbal behaviors?
Name the five types of responses.
1. Continuing response – smiling or nodding to encourage the speaker to continue.
2. Reflection-of-feeling response – responding to a client in an empathetic way by paraphrasing their words and feelings.
3. Restatement-of-content response – repeating what the speaker said which can encourage the speaker to continue.
4. Clarifying response – translating client words into a more understandable language without adding anything new.
5. Summarization response – summarizing a series of scattered ideas and make it more focused.
This is when the advisor takes the lead and deviates from the clients responses to another topic.
What are the four types of leading responses?
1. Reassuring – bolsters the clients spirits.
2. Interpretive - interprets what the client just said, like why the client is afraid to retire early.
3. Suggestive – giving advice to clients
4. Explanatory – neutral explanation of General fact, almost like explaining and annuity
Questioning is another type of communication technique. Not done correctly how can it affect the advisors and the clients relationship?
I could put the advisor in the role of the authority figure and the client as a passive subordinate.