The Take-Charge Visionary

This post is part one of our series on Financial Behavioral Insights from our Financial Performance in the New Behavioral Economy White Paper. The financial behavior insights will help you gain greater self-awareness for recognizing some of your own behavioral tendencies and also those of investors.

The Take-Charge Visionary

Behavioral Insight 3, Take charge investors, investor behaviorJack Sun is a 40-year-old driven businessman who has come to meet with you to discuss his finances. You have learned that Jack has just sold one of his businesses and he now has capital to re-invest. You ask Jack the question: What will your life be like in 3, 5 or 20 years? Jack is able to immediately respond that he loves running restaurants and managing people. As the discussion goes on it becomes obvious Jack has worked out his life plan and he will not be retiring. Further, he does not mind what he invests his investment capital in so long as it makes money. He says he is interested in the overall return and not the performance of any particular asset.

Jack is an Initiator with a dominant trait of being a Take-Charge Visionary. This means he is naturally a big-picture thinker. He can see his life out a long way. Being able to more easily get the big-picture clarity does mean he will be naturally more comfortable making long term investment plans. Further, this clarity will help Jack with being able to more confidently make financial choices.

Also, when it comes to managing investments, an Initiator with Take-Charge Visionary traits will be able to more easily look at their investment portfolio in the aggregate. This will generally help them focus on the overall result and not get stuck on looking at whether each particular investment is a winner or loser.

Behavioral Insight
Naturally big-picture thinkers and decisive people will be Initiators who are Take-Charge Visionaries. They know where they are going and will have a consolidated view of their investment portfolio.

Communication key: Keep the discussion high level and provide options on recommendations.

A struggle that an Initiator will have is listening to advice from an advisor because it is about their agenda and plans. This means they could miss learning important information before making a decision and over extend themself.

An advisor who is an Initiator with Take-Charge Visionary traits will be naturally good at giving the client direction but needs to slow it down and listen to what their client has to say. This type of advisor needs to be very careful that their dominant attitudes do not overly influence the portfolio.

Learning Point:
The Initiator with a Take-Charge Visionary dominant trait will more independently set the direction of their overall planning. The advisor should aim to guide them by providing options and recommendations on investment choices. Ask the client: What goals would be the most important for you to achieve in your life? Have you built a detailed plan for your wealth creation?

To read about additional client behavioral styles, download the full Financial Performance in the New Behavioral Economy White Paper.

What are your thoughts?

Building Relationships

When it comes to building meaningful and successful relationships with your family, friends, colleagues and clients, effective communication is foundational.

Are You Building Sound Relationships?Communication DNA Profile

The quality of your relationship with any person has a direct impact on the quality of decisions that get made. If the communication is poor, people start making decisions around each other because the trust has been diminished. Also, poor decisions can be made because the information has not been heard as intended.

How Do You Naturally Communicate?

You naturally communicate based on who you are and how you see the world. Of course, how the other person hears the message depends on who they are. So often there is a gap that needs to be bridged between what was said and what was heard. Close the Gap.

One of the keys to success in any relationship is closing this gap by communicating with the other person on their terms and not your own. How the message is communicated becomes as important as the message itself. This is not always easy because when we are under pressure or out of our comfort zone, we will tend to revert back to our natural behavior.

Learn How To Improve Your Relationships

Understanding the communication preferences and life perspectives of yourself and others will help you to:

  • Communicate with others on their terms
  • Navigate differences more easily
  • Build greater trust in all of your relationships
  • Connect more quickly with others
  • Understand what motivates you and others

Knowing your own Communication Style is the first step in working towards effective communication with others.

Find out your Communication DNA Style by completing our Communication DNA Profile -Click Here.

“Know, Engage and Grow Your Customers” for an annual cost of $10 or less per person. For information on our Enterprise Solutions for improving Relationship Performance – Click Here.

Increasing Client Engagement Around the World

Our dream of globalizing DNA Behavior as a leading Human Performance Business has fast come to reality.

In the past 12 months, the Communication DNA Profile has been completed in 47 countries worldwide – including Germany, Romania, Russia, Mexico, Singapore, Hong Kong, Brazil, India and China.

Business bright spot, business improvement
This global reach shows, regardless of possible differences in culture, that businesses, individuals, couples, families and leaders in multiple industries around the world understand the importance of knowing their own Communication style and adapting to the style of others in building sound relationships.

How do you wish to be communicated with? How do you customize your approach for different clients?

You naturally communicate based on who you are and how you see the world. Of course, how the other person hears the message depends on who they are. So often there is a gap that needs to be bridged between what was said and what was heard. Close the Gap. One of the keys to success in any personal or business relationship is closing this gap by communicating with the other person on their terms and not your own.

Complete the Communication DNA Profile

Learn How Businesses are Using Communication DNA to Increase Client Engagement

Our specific Enterprise Solutions help businesses and organizations increase the emotional engagement of employees and clients through tailoring your communication, improving execution and customizing the experiences you create for others each time you interact.

Click Here to Learn More

Advisor Client Matching

This post is part 4 of our 8 part series on increasing Client Engagement from our Client Relationship Performance in the New Behavioral Economy White Paper. The insights will demonstrate in practical terms how to apply predictive behavioral insights to tailor client communication and provide unique client experiences.

Behavioral Insight 4: Advisor Client Matching

Earlier in this series, we learned about Chris Coddington and his meetings with a client named Frank Butler. Chris was given information about the 4 Communication DNA Styles and processes for discovering which communication style a client has. (Click here to read the previous posts in this series).

We asked Chris, Have you ever wondered why clients have suddenly left your business for no apparent reason? Or why some clients have taken a long time to make a commitment to your service? Why do some clients cause your heart rate to increase when they call? Or, what about that one-hour client meeting that has left you feeling exhausted?

The bottom line to all of these questions is that there is a lack of emotional engagement by Chriss clients. We said to Chris, You may be rationally serving the client very well, and he or she is satisfied with your service. However, the client is not emotionally connected to you, and therefore there is an inherent lack of trust. There could be many reasons for it. Usually the main reason will be that you have a different behavioral style from many of your clients. This will naturally lead to a gap in communication. Differences between people are wonderful, and they can be capitalized on to get great results. However, differences also divide and must be understood, accepted and respected by us in order to get along and build client relationships. This is also true of marital relationships, teams and business partnerships.

Advisor Client Matching, Know Your ClientWe suggested to Chris that in order to be successful in his business he would need to master the behavioral differences by adapting his behavior, and so would his team. As the Compatibility Matrix shows, it may be easier to match up to those clients who are similar to you in behavioral style. This means you have to adapt less and there will be a more connective energy. You can mostly be yourself and not have to worry about adapting as much.

However, the reality is that many clients, or at least their spouses, will be different to you. So you will have to adapt your behavior and communicate and serve clients on their terms. This is what we call the platinum rule of relationships.

We told Chris that a future trend will be advisors building client service teams that are a custom fit for the client. This provides the advisor with the opportunity to include team members with different styles to complement the advisors behavior. Imagine when a telephone call comes in and the team automatically knows who is to pick it up, then how to communicate with the client, and how to manage the work flow and even product or solution offerings. This really is the Ideal Advisory Business. Chris could also see that this strategy would be good for succession planning.

Matching Clients Based on Their Needs

Advisor Client Matching, Know Your Client, Financial Behavior

What are your thoughts? For additional information on increasing engagement of others, visit our Communication DNA Website.

To Learn More, read the full Client Relationship Performance in the New Behavioral Economy White Paper.

Engaging Your Employees

Mary Lorenz of? recently published an article focusing on management of employees, “How not to motivate employees: 10 management habits to break now“.

The ten habits that are pointed out in the article are great and include – Don’t assume people understand your reasoning behind decisions; Don’t forget that praise is about them, not you; and, Don’t speak negatively about other team members, their peers or senior management and leaders.

It is important to remember that everybody wants to be recognized for their strengths and in an environment where they can use them. This means leaders need to manage people based on their unique strengths. Further, they need to be emotionally engaged with communication customized to who they are. In the end this will build confidence which is the key to performance and realizing human potential.

Click here to read the article.

What are your thoughts?

Frustrated by the Lack of a Systems-Based Discovery Process?

One of the first things that I did when I began a business coaching practice in 1998, was to enroll in Michael Gerbers Certified E-Myth Consulting program. You probably know Michael Gerber as author of the E-Myth Revisited.

The E-Myth is largely based on the story of McDonalds, one of the worlds most successful and systems-based organizations. Gerber recommends that every frustration that you experience in your business is due to the lack of a highly effective solution.

If you are a professional services firm, you are in the relationship management business. To manage relationships you need relationship management systems. The first step in relationship management is discovery. Ask the right questions of the right people and you will get the right answer.

What is your system for doing discovery? Many professionals shoot straight from the hip when doing discovery. They have three or four really good questions that they ask and then go with the flow from there. What is important about money to you? Describe the most successful period that you have experienced in your business?

To be truly successful in managing relationships and to have clients who are engaged in their own planning, you should spend the majority of your time that you interact with your clients in discovery. That means you will need hundreds of great questions to ask.

To be effective, some of these questions need to be left brain focused (logical, analytical and objective) and some right brain focused (emotional, intuitive and subjective). Getting this combination correct will lead to highly engaged clients and getting this wrong will lead to highly disengaged clients. Engaged clients are more satisfied and more likely to refer their friends and colleagues.

Creating your own discovery systems is difficult and expensive. Financial advisors use financial planning as a way to do discovery but unfortunately many financial planning programs are left brain focused and do not engage your clients. Have you ever seen a client tune you out during a financial planning session?

The best way to deliver systems-based discovery is to acquire a system. We have a broad range of personal and business discovery systems that you can acquire and be trained to deliver.

If we can help, please contact us.