Question

A Senior Financial Planner is delivering a virtual seminar, to...

  • A Senior Financial Planner is delivering a virtual seminar, to which s/he has invited existing clients. Consider how the financial planner might employ their interpersonal skills to respond to some tough questions.
    • A 65 year old client asks; "How will you communicate with us, to keep us updated on the markets, conduct our financial plan review, and so on; without in-person meetings?" 
    • Please Describe 3 communication methods financial planners could use and the Interpersonal skills necessary to utilize.                                                                                                                                                                                                                                                                                                                                 An elaborative response will really help. Please include the sites and reference. Thank you very much.

 

Answer & Explanation
Verified Solved by verified expert

First of all we should know what is the role of a financial planner. A financial planner is a type of financial advisor who helps clients manage their current money needs and reach their long-term financial goals. The services offered by a financial planner vary by provider. Some create plans to help clients with numerous aspects of their financial lives, including savings, investments, insurance, retirement savings, college savings, taxes, and estate planning. Other financial planners have a narrow focus, such as insurance or securities. 

     Second,  how was the senior financial planner communicate without in person meetings to keep him updated? As of our situation right now facing a COVID-19 pandemic. financial planner have meeting with clients in phone calls, specifically video calls  followed by email, were the next most popular pre-pandemic forms of communication. About 28% of advisors list calling on the phone as their favorite communication method, while more than 13% report email as their go-to. In our modern times we have a lots of technology can be use to be updated by our clients such us facebook, zoom, google meet and many more. 

      Third, As a financial planner, it should posses a 3 communication skills such as verbal communication, Non-verbal communication and listening skills.  A verbal communication  is skills of what we say and how we say it. it is very important as a senior financial planner to have this communication enable for them to explain, encourage and motivate clients. Non-Verbal communication  is a skills on how we communicate without words  but through body language, tone of voice, and facial expression. this skills really helps in communicating the clients to sympathize them in their goals. Listening skills is how we interpret both the verbal and non-verbal communication. Being a  financial planner you should be a good listener of your clients to know what they wants from you.  Interpersonal skills are the skills we use every day when we communicate and interact with other people, both individually and in groups. They include a wide range of skills, but particularly communication skills such as listening and effective speaking. They also include the ability to control and manage your emotions. Interpersonal skills that  are utilize  by a senior financial planner are:  convincing ability, listening, Sensitivity, Personal touch, Etiquettes, Communication, Empathy, Critical thinking,  and authorization of your words. The advisor's business is service oriented, you have to deal with human beings. And in our business, building and maintaining relationships is as important as generating sales. A financial planner is like a slab of marble, the surface has to be glazed to bring out the sheen of the piece. Similarly, the interpersonal skills of the planner should be polished to unearth his hidden civil skills. 

 

  

 

Step-by-step explanation

I used the following reference in answering above question but I paraphrase it and used my own understanding about the topic.

https://www.investopedia.com/articles/personal-finance/050815/what-do-financial-advisers-do.asp

 

https://smartasset.com/financial-advisor/financial-advisor-and-client-communications-covid19-2021 

 

https://www.skillsyouneed.com/interpersonal-skills.html 

 

https://njwealth.in/wealth-creator/articles/interpersonal-skills-inancial-advisor.html

 

 

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