How do you know when a client has reached the top of the staircase on their Financial Road Map®?
Most people have 7 – 10 answers as they go up their Values Staircase™. But having completed 10 answers doesn't mean they reached their final answer. There are 3 levels of answers. Level one answers are what we call “lower self.” Things like security, being able to pay my bills, freedom, etc. Level two answers are about others. Things like taking care of my family, making a difference, helping people, etc. Level three answers are about “higher self” or to use Maslow’s terminology, self-actualization. Answers like satisfaction, fulfillment, inner peace, being one with God or the Universe, Nirvana, etc.
How do I get my clients to continue on to the level 3 values during the Values Staircase™?
This is common. Try projecting someone into the future. When appropriate, it’s quite effective. Don't however, over-use this bridging. You might begin by saying, “Let’s assume you are now at a place where you have ‘fill in the blank’ ….. Whats Important About Being in that position to you?”
During the Values Conversation™, the client sometimes goes down a path about a particular aspect of their life, like travel, and may even get to level three, but then indicate that there are some level one and two responses in some other area of their life like children or community. How do we best encourage the client to transition to these other areas of their lives in the conversation without complicating or disrupting the flow of the process?
Just go with the flow of the Values Conversation™ and don’t view it as complicated or disruptive. And don’t allow an unusual situation to become a distraction. Most Values Conversation™ follow the level 1, 2, and 3 pattern.
Sometimes it is hard to get a client or prospect to move into a level 3 response. Does this more often speak to an Advisor’s skill level or the fact that some clients have a hard time getting to Level 3 responses themselves?
Not so much advisor skill level as advisors experience and Way of Being™. Everyone has high level 3 values. Most advisors who are new to Values-Based Financial Planning™ tend to be a little stiff and self conscious when conducting Values Conversations™. The more you do the better you get. You become relaxed so they become more relaxed.
When I am doing the Financial Road Map™, I get clients to the top of the stair case, where they say, “That is what life is all about.” Then they stop. This is not an emotion or a feeling. How do I get them past this point?
That may be plenty, depending on the level 3 answers that preceded it.
During most of the Financial Road Maps® that I’ve conducted, I have been able to involve both spouses/partners in the experience. I believe prospects have appreciated the joint involvement.
During the Values Staircase™ conversation, their responses are shallow compared to the experiences shared on the BAI CD/DVD resources and the practices sessions at the Academies. The Academies buzz with Level 2 and 3 answers. My prospects barely get to mid level 2. The husband’s highest level answer was “I’m there” as his 8th response. The wife ended up with “No worries” as her 11th response.
Do you have any thoughts on how I can help the prospects create more passion in their responses?
Maybe, maybe not. Some people are not very passionate. Some people are downright dull and boring. We are working to help you build a community of Ideal Clients. Your Ideal Clients will not need you to help them come up with level 2 and 3 answers or to cause them to be passionate. They already are passionate about what’s important to them. That said, how is your Way of Being? When you listen to your recordings are you asking the questions in a monotone, dull, and boring way or are you asking the questions with emotion and feeling? It might go without saying, but just to be on the safe side… ask the questions with emotion and feeling. And make sure to actually ask the question as we teach it: WIA … TY? And do not ad lib other questions or make comments about their answers. Module 2: Introduction to FRM Pg. 15-17 Module 2: FRM-Existing Clients Pg. 109-110
Are all positive feelings considered Level 3 values?
No. Level 3 answers are akin to what Maslow described as self-actualization. On the one hand you want to learn the process and on the other hand try not to over-think it. Relax. Ask the questions. Enjoy the conversations. It’s supposed to be fun – for them and you.
What happens if a client gets stuck on a Level 1 answer or repeats themselves?
It’s called projecting them into the future and it’s usually two answers in a loop, such as security and freedom. Respond like this, “Let’s say that you are in a position where you have all the security and freedom you can imagine having… you are totally secure and completely free….. What’s Important About being in that position….To You?”
I have known most of my clients for 15 to 20 years and so it seems a bit awkward for me to "switch gears" in the review process to begin asking "What's Important To You About ------ To You". Any suggestions to make this transition?
You should have the Mastery Series™ with the scripts for the Financial Road Map Interview™. The Old World New World™ conversation deals specifically with this issue. That script will answer your question and give you the dialogue for what informaion you need to include in these conversations with your existing clients. Secondly, sometimes doing something new seems or feels awkward. That’s just how it is. The only way past that is to do it until it no longer feels awkward. It only feels awkward for them if you feel awkward doing it. If you don’t have the Mastery Series™, talk to your Accountability Coach.
In my Financial Road Map® Conversations I find that my clients want to talk about the deck, car and the children’s education when I am trying to dig out their Core Values. I am not sure if I am making mistakes or just need to redirect them to their values. I am telling them that we will discuss the Goals in just a few minutes but need for them to go through the Values Conversation™.
Just relax and let them say whatever they say when you ask the question. Some people need to express the tangible before they move up the staircase into their values. Remember, this conversation is meant to be pleasant and enjoyable for them, not a forced march up their Values Staircase™ or an interrogation. Listen to your recordings.
How do you respond to a client who, during the Values Conversation™ of the Financial Road Map® Interview, keeps saying, "I'm not sure where we are going with this"? Is this a sign that I should disengage? If so, how?
It could be a signal to disengage, but it's more likely they are feeling some pressure to provide the "right" answers. You probably just need to be more relaxed when you ask the questions during the Values Conversation™. How does it sound to you when you listen to your recordings of your Financial Road Map® interviews? Sometimes a person just needs a little reassurance. In that case say something like, "you're doing fine by answering whatever comes to mind naturally when you think about what's important about to you. Where 'we are going' is wherever you take me in our discussion about what's important to you." Then ask the next question in a relaxed and curious manner. The bridging comment, " means different things to different people... what's important about to you?" can also be helpful on occasion, just don't over use it.
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