Podcast
Questions and Answers
What is the primary driver of an individual's attitude?
What is the primary driver of an individual's attitude?
- Beliefs and values (correct)
- Emotions and experiences
- Cultural and social norms
- Economic and environmental factors
What happens to an individual's attitudes when their beliefs and values change?
What happens to an individual's attitudes when their beliefs and values change?
- Their attitudes become less important
- Their attitudes remain the same
- Their attitudes become more complex
- Their attitudes also change (correct)
What is the primary reason Bob resisted investing in a conservative mutual fund?
What is the primary reason Bob resisted investing in a conservative mutual fund?
- Bob values freedom
- Bob is a risk-taker
- Bob believes GICs are the only safe form of investment (correct)
- Bob values personal growth
What is the benefit of identifying a client's attitude toward money?
What is the benefit of identifying a client's attitude toward money?
What is one of the five types of attitudes toward money?
What is one of the five types of attitudes toward money?
What does money represent to Linda?
What does money represent to Linda?
What is a characteristic of clients who consider money to be a symbol of security?
What is a characteristic of clients who consider money to be a symbol of security?
What is a benefit of understanding a client's attitude toward money?
What is a benefit of understanding a client's attitude toward money?
What does Alphonso consider money to be a symbol of?
What does Alphonso consider money to be a symbol of?
Why do clients who receive gifts from their adviser feel?
Why do clients who receive gifts from their adviser feel?
Why is it important to establish a relationship of trust with clients?
Why is it important to establish a relationship of trust with clients?
What is the priority of clients who view money as a symbol of power?
What is the priority of clients who view money as a symbol of power?
Why does Alphonso spend money?
Why does Alphonso spend money?
What is the consequence of not establishing a relationship of trust with clients?
What is the consequence of not establishing a relationship of trust with clients?
Why do clients who view money as a symbol of power want to dominate their relationship with their adviser?
Why do clients who view money as a symbol of power want to dominate their relationship with their adviser?
What can an adviser do to gain the trust of clients who view money as a symbol of power?
What can an adviser do to gain the trust of clients who view money as a symbol of power?
What is the frequency of reviewing the checklist?
What is the frequency of reviewing the checklist?
What is the importance of item 8 compared to other items?
What is the importance of item 8 compared to other items?
What is the purpose of the checklist?
What is the purpose of the checklist?
What should you do with items you answer as 'no'?
What should you do with items you answer as 'no'?
How should you address clients?
How should you address clients?
Why is it important to listen to clients?
Why is it important to listen to clients?
What is the recommended way of speaking to clients?
What is the recommended way of speaking to clients?
Why is item 8 crucial?
Why is item 8 crucial?
What is the primary goal of applying the principles of relationship building in a client-adviser relationship?
What is the primary goal of applying the principles of relationship building in a client-adviser relationship?
When resolving a conflict, what is the first step in the conflict resolution process?
When resolving a conflict, what is the first step in the conflict resolution process?
What is the purpose of active listening in conflict resolution?
What is the purpose of active listening in conflict resolution?
Why is it important to acknowledge a client's feelings during conflict resolution?
Why is it important to acknowledge a client's feelings during conflict resolution?
What is the last step in the conflict resolution process?
What is the last step in the conflict resolution process?
What is the benefit of resolving conflicts effectively?
What is the benefit of resolving conflicts effectively?
Why is it important to stay focused on finding a solution during conflict resolution?
Why is it important to stay focused on finding a solution during conflict resolution?
What is a key aspect of communicating with empathy and understanding during conflict resolution?
What is a key aspect of communicating with empathy and understanding during conflict resolution?
What percentage of dissatisfied clients considered severing their ties with the institution?
What percentage of dissatisfied clients considered severing their ties with the institution?
What is the primary importance of an adviser according to the Japanese term okyakusama?
What is the primary importance of an adviser according to the Japanese term okyakusama?
What is a key ingredient to success in an adviser-client relationship?
What is a key ingredient to success in an adviser-client relationship?
What is the main objective of an adviser according to the client-centred principle?
What is the main objective of an adviser according to the client-centred principle?
What should an adviser do if the client's needs conflict with the financial institution's interests?
What should an adviser do if the client's needs conflict with the financial institution's interests?
What is the result of an adviser neglecting the human and emotional aspects of the relationship?
What is the result of an adviser neglecting the human and emotional aspects of the relationship?
What is one of the principles for building strong relationships with clients?
What is one of the principles for building strong relationships with clients?
What is the importance of being client-centred in an adviser-client relationship?
What is the importance of being client-centred in an adviser-client relationship?
Study Notes
Attitudes and Their Formation
- Attitudes are derived from emotions and allow consistent responses to situations.
- Attitudes are formed from a combination of related beliefs and values.
- When beliefs and values change, attitudes also change.
Types of Attitudes Toward Money
- There are five types of attitudes toward money:
- Security
- Love
- Power
- Freedom
- Personal value
Client Insights
- Clients who consider money as a symbol of security want to use tried and tested investment methods.
- Clients who consider money as a symbol of power may want to dominate their relationship with their adviser.
Building Relationships with Clients
- Building relationships takes skill and effort.
- Four principles support building strong relationships with clients:
- Be client-centred.
- Be accessible.
- Be an effective communicator.
- Be consistent.
Principles for Building a Relationship
- Being client-centred means identifying client needs accurately and recommending products and services to meet those needs.
- Relationship-building skills and technical competency are both necessary for delivering quality service.
Relationship-Building Checklist
- A checklist can be used to evaluate performance in building relationships with clients.
- Items on the checklist include:
- Addressing clients by their name.
- Listening to clients with the intention of understanding their needs.
- Recommending products and services on the basis of clients' needs.
- Speaking clearly and promptly returning clients' calls.
Resolving Conflicts
- Conflicts can be prevented by applying the principles of relationship building.
- The conflict resolution process includes five basic steps:
- Choose your attitude.
- Use active listening to gain clarity.
- Communicate with empathy and understanding.
- Collaborate on a resolution.
- Implement resolution and evaluate results.
Conflict Resolution Process
- The first step in resolving a conflict is to choose your attitude.
- Active listening is used to gain clarity and understand the client's perspective.
- Communicating with empathy and understanding helps to acknowledge the client's feelings and relate to their problem.
- Collaborating on a resolution involves finding a mutually beneficial solution.
- Implementing the resolution and evaluating the results helps to reinforce the relationship with the client.
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Description
This quiz explores how attitudes are formed and modified, and how they influence our behavior. Learn about the role of beliefs and values in shaping our attitudes.
