Work on Managing What You Can Control

93.6% of the financial planning process is the behavioral management of the client.

This point was brought to light for me in an entirely different situation: traveling in a major snowstorm.

We cant control the weather, but we can control your experience, said the flight attendant.? Too late, I thought.? After standing in various airport lines for over 8 hours and being treated poorly by every ticket agent and/or baggage claim handler, I was not feeling warm and fuzzy anymore.

managing behavior, behavioral finance, client communication, communication styles

Even as I checked into my hotel at 2am and was greeted in line by my enthusiastic pilot, I was not in the mood to be sold on the benefits of flying with this particular airline.

But it got me thinking.? My first impressions were made with the front- line staff who were dealing with a lot of upset people.? The higher up you went in the airline chain of command, the friendlier and more professional the staff became. They were all under the same stress of the storm, but the pilots and flight attendants probably thought the ticket agents were just like them and able to maintain their professionalism during these unusual conditions.

Lets examine the parallels in the financial services industry. Who is the first person I would come in contact with at your firm?? Are they trained in the behavioral management of your clients?? Do they even have the data in your CRM so they can easily remind themselves how to adjust their style to accommodate your clients?? Or, are you assuming they know how to deal with every clientespecially in a crisis?

The blizzards of the financial services industry come in the form of market corrections, death of a spouse/family member, health challenges and even the birth of a baby. Each client is different and that is especially true of partners in a couple.

As an advisor, it is important to have a defined process that actively and uniquely engages each client/partners in the decisions that will affect their financial life. And that starts with the receptionist to the client service staff and to every client facing staff in your office.

Empower your staff with the behavioral data that will make a difference. That way you can honestly say, We cant control the markets, but we can control your experience.


Peggy Mengel ? Vice President, Human Behavior Solutions Advisor at DNA Behavior

Specializing in financial services, Peggy uses behavioral intelligence to help businesses navigate human differences to unlock performance potential. DNA Behavior helps grow behaviorally smart businesses and financial advisors worldwide to increase competitive advantage using the most reliable behavioral discovery and performance development systems on cutting-edge technology platforms.

Visit the Financial DNA website to learn more. |??? Try Financial DNA Free for 30 days!

Peggy Mengel

Peggy Mengel - Business Coach - The Biz Sherpa

As CEO and founder of The Biz Sherpa, I coach and consult with executives on developing deep and strong relationships with clients, staff and most importantly, themselves. When you align your talents, passions and strengths with a strategy that fits your uniqueness, you will transform yourself, your client experience and your business.

Throughout my career, one my driving principles is to understand people before numbers. It is this philosophy that ignites my desire to help financial services firms meet the challenge of driving results through a behaviorally based strategy.

How can your firm balance the demands of effectively managing people and maximizing profits? Start building business from the "inside-out" with a coach who understands your industry and your challenges.

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