Enhanced Questioning Skills for Next-Gen Advisors

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Over the last few months, I’ve had multiple clients struggling with the same issue: During their first meeting, they don’t know how to respond once the prospect answered their question and stopped talking. Coincidentally, these clients were all next-generation financial advisors. At times, the answers were not robust, and an awkward silence filled the air. The advisors were taken aback and were ill-prepared to continue the conversation with ease.

In some cases, young advisors are given scripted formats for meetings to simplify their training and/or feed them “success strategies.” This concept is not faulty. But scripts lack personality, flexibility and creativity while prospects do have personality and can be unpredictable.

Without situational coaching, young advisors are unprepared when the conversation goes off script.

Next-gen advisors should realize that the first question asked to the prospect is not necessarily the only question that needs to be posed. I’ve needed to coach my clients on the importance of the follow-up questions. Follow-up questions are directly linked to your natural sense of curiosity and desire to learn more. The more you know about a person, the better you can serve them. Learning more about people ensures that you’re solving the right issue as well. There’s nothing worse than trying to solve a problem for a prospect or client only to find out that the problem wasn’t a problem after all; you just thought it was because you didn’t listen well enough.

One of the easiest ways to continue a conversation is to fall back on what you learned in elementary school science. Back then, we were taught to engage our curiosity by asking questions that started with who, what, where, when, why and how as we worked to solve a problem or develop a theory to test. That same curiosity can still serve you today as you work to get to know a prospect, learn more about your clients, understand how a COI serves their clients and relate more effectively to your co-workers.

Let’s look at sample questions that fall into these categories to help your future meetings flow more easily and provide you with the depth of information you need to develop long-lasting relationships.

Who?

Who do you trust to help you make these decisions?
Who needs to know what plans we are making?
Who else should be involved in this process?
Who are the most important people we need to consider as we move forward?
Who can I help you meet?

What?

What happened next?
What more can you tell me?
What else do you need to know to help you make a decision?
What problems have you encountered in the past?
What did you learn from that?

Where?

Where have you experienced this before?
Where do you see yourself living in retirement?
Where did you get this information?
Where do you see opportunities?
Where did that come from?

When?

When did you know it was time to do something?
When did you get concerned?
When are you planning to make a decision?
When have you felt this way before?
When did that happen?

Why?

Why did you make that decision?
Why did that have to happen?
Why are you concerned about this now?
Why do you care so much?
Why do you do it that way?

How?

How would you describe your ideal relationship with an advisor?
How have things changed for you?
How can I help you?
How did that make you feel?
How do you take this into consideration?

Since you’ve chosen a relationship-based profession, your curiosity should be one of your most valuable tools. Some advisors find it helpful to jot down a few deeper questions as they prepare for meetings to trigger their curiosity. Others integrate a simple phrase, such as, “Tell me more.” Questions lead to greater learning. Learning gives you more knowledge. Knowledge enables you to serve better and help others more effectively. Asking more questions makes you a better financial advisor.

Michelle R. Donovan and Patty Kreamer own Productivity Uncorked LLC where Michelle (referral/business coach) and Patty Kreamer (productivity coach) offer a one-two punch to help financial advisors get more done in their day and be more profitable. To see if they can help you or your Next-Gen advisors, email Michelle at [email protected].