Communication Essentials for Financial Planners: Strategies and Techniques

Описание

xii Preface
Why This Book
Over the past two decades, myriad financial planning practitioners have
emphasized the importance of client communication to business success and
client satisfaction.5
In fact, the authors, who regularly hear practitioners
speak about their professional roles when invited by their university’s student financial planning organization, have noticed a consistent emphasis on
client communication and relationship building as the foundation of each
presenter’s success. Many of these practitioners believe strongly that their
method of client communication is effective, and undoubtedly it is at some
level, but what they may fail to consider is whether another communication
strategy or skillset could work even better. As will be highlighted throughout
this book, the study of communication and counseling skills can assist even
those financial planners who are already quite proficient communicators to
become even more effective in their work with clients.
Current financial planning practice standards mandate that anyone
hoping to become a Certified Financial Planner (CFP®) professional must
obtain proficiency in the following interpersonal communication domains:
■ Evaluating client and planner attitudes, values, biases, and behavioral
characteristics and the impact these have on financial planning
■ Principles of communication and counseling
The CFP Board’s requirement goes beyond a theoretical understanding to requiring proficiency. The role of communicating effectively with
prospective and current clients permeates the financial planning process.
Consider the CFP Board’s standards related to professional conduct and
fiduciary responsibility, disciplinary rules and procedures, and practice standards. According to the CFP Board, practice standards are intended to:
1. Assure that the practice of financial planning by CFP® professionals is
based on established norms of practice
2. Advance professionalism in financial planning
3. Enhance the value of the financial planning process
Practice standards apply to all CFP® professionals and those studying financial planning in a CFP Board Registered Program. The standards,
however, also serve as a foundation for professionalism within the broader
financial services profession. Practice standards were first developed in 1987,
updated in 1994 by CTB/McGraw-Hill, an independent consulting firm,
and again in 1999 by the Chauncey Group. These standards, tied directly to
steps in the financial planning process, are shown in Table P.1.

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