Three Tools to Master Your EQ Game

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Being a financial advisor has grown in complexity over the past few years. It requires extensive training in a diverse array of fields – everything from economics to psychology to regulatory compliance – not to mention the ability to constantly adapt to clients’ ever-shifting needs and preferences and stay up to date with technology.

Being an advisor today is akin to being a life coach or even a counselor. Although resources abound for the financial and regulatory aspects of delivering advice, a gap exists in addressing clients’ dynamic emotional needs and creating engaging experiences that inspire action. Training for financial planning is heavy on the “how,” but delves less into the “why.”

Traditionally, advisors have built up their coaching skills over time, with many firms relying on experienced advisors to tap into clients’ wants, needs, and behaviors. These advisors are hailed as heroes in their organizations due to their high emotional intelligence (EQ) and ability to stage experiences that unlock clients’ aspirations.

It takes time and experience to build the requisite EQ to connect with clients on a deeper level and learn how to balance listening and advising. But there are tools to help you level up in client behavior, experience, and engagement. Let’s take a look.