The Perfect RIA Bitcoin [Episode 284]
Nov 25, 2024
Discover the art of financial advising as experts delve into the importance of understanding clients' motivations. They share insights on building trust and navigating the complexities of investment decisions, especially with high-risk assets like cryptocurrencies. Learn how effective communication can guide clients through market volatility while maintaining their financial goals. Explore the dynamic between AI and crypto investments, and understand the significance of fostering solid relationships to navigate today's financial landscape.
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Episode notes
Understanding Client Motivations
- Use guided discovery by asking genuine questions.
- Understand the client's motivations and goals.
Uncovering the Real Question
- Matt Jarvis recalls a client asking about Social Security benefits.
- Further questioning revealed the client's concern was survivor benefits, not their personal check amount.
Assess Investment Amount
- Always ask clients how much they plan to invest in a risky asset.
- A small amount might be acceptable as 'play money', a large amount requires deeper discussion.