Women, finances, and feelings go together. In this video, discover how the financial services industry usually views emotions like fear, and how advisors can actually use this data to help women plan for retirement.

Next time there is an “Elephant in the Room” (also known as a client’s emotions) remember these 3 tips:

  1. Notice feelings

Don’t skip over emotional content in your meetings. Instead, use it as additional data to help you understand your client. If a woman expresses worry about running out of money in retirement, ask her to tell you more about this fear. Ask open-ended questions with the goal of putting yourself in her shoes. This type of noticing and listening will foster trust and make your client feel truly heard.

  1. Don’t rush to problem solving

There is a tendency in this field to offer financial solutions too quickly. Slow down and listen to what your client is telling you about her thoughts and feelings about retirement. (Click to Tweet) Find out what triggers certain feelings to arise and what causes them to subside. This insight is valuable to you and the client; so don’t skip this important step.

  1. Use non-technical data to help clients

It is normal for a person to have mixed emotions about planning for or transition to retirement. Treat clients’ emotions as important data points. Gather this non-technical information to help you create a retirement plan that speaks to your client as a unique individual. By taking the time to do so, the likelihood that your plan is successful increases.

How do you handle emotions as they arise in your advisory meetings? How do you think using this data is helpful or not helpful to the financial planning process?

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