Just in Time for Summer: How to Properly Grill a Prospect

Just in Time for Summer: How to Properly Grill a Prospect

Closed-ended questions are like this: who won the tennis match?

Ask the right questions and you’ll gain new clients. That’s simple enough and we wager you’re eager to proceed. When you meet a prospect, there’s usually plenty to talk about and getting tongue-tied isn’t much to be feared. Our featured authors aren’t so much concerned about what you say, though – rather, they’re interested in the structure of the questing process. Let’s delve deeper together.

Stephen Boswell and Kevin Nichols work at The Oechsli Institute, a specialized financial industry research and training firm. The identify three kinds of questions: open-ended, closed-ended and impact, and you can bet they want your pitch to concentrate of the latter of the three.

We did! Open-ended queries give the opportunity for detailed discussion: how was your summer vacation? Super, we flew down to the islands and… Plenty of room for banter.

These varieties are easy for your prospects to answer. Impact questions create pressure of the positive variety. They aren’t part of a sales pitch, our authors say: the goal is to plunge the prospective client into deep consideration of the financial planning task at hand and cogently analyze the solutions you’re offering. They can’t get off with glib answers – they’ll need to really think.

Boswell and Nichols provide a good list of examples: first, ask your prospects to predict how their finances will develop is they stand pat and do nothing new. That should get them thinking about their current circumstances and the changes they anticipate going forward. Ask if they feel ready to face these challenges.

Impact questions provide invaluable insights into your prospects’ thinking, force people to examine serious financial planning issues, and present you as a concerned professional eager to serve their unique needs.

For more information, please read:
Ask Your Prospect Questions that Make an Impact | Wealth Management


The Financial Planning Challenges of Same-Sex Couples Digital-Age Succession Planning Made Easy