1. You can decide if you want to partner with this individual; and

2. You might be able to help him change the way he thinks and get better results.

I encourage you to beta test this conversation with some of the next prospects that walk through your door. You might be surprised at how much and how quickly you will understand the individual in front of you.  The value of this conversation is that it will be your springboard to explaining yourself and the rules and principles you play by. Once they hear you articulate what you are about-and it resonates with their own observations in life-then an emotional agreement is formed and a partnership is born (I would be happy to provide a PDF version of this document for those who wish to use it in client conversations).

How we think about money is just as important as how we manage it. We all want to have the confidence of knowing that we are working with an advisor who thinks prudently and keeps us grounded with that logic in trying times.

What does it take to succeed with money? From Ben Franklin to George Clason to Warren Buffett, the answer has not changed: prudence, patience, wisdom and a sound investment philosophy ... or what we might call a sound fiscalosophy.

The Fiscalosophy Assessment
Mark each statement below with the level of your agreement with each phrase:

I am comfortable using debt and credit.
1-Totally agree   2-Somewhat agree  3-Not sure   4-Disagree   5-Strongly disagree

I believe that the stock market is the best place to make money.
1-Totally agree   2-Somewhat agree  3-Not sure   4-Disagree   5-Strongly disagree

A person should live on less than what he or she earns.
1-Totally agree   2-Somewhat agree  3-Not sure   4-Disagree   5-Strongly disagree

I have consistently followed the above guideline in my life.
1-Totally agree   2-Somewhat agree  3-Not sure   4-Disagree   5-Strongly disagree

I have been tempted at times to make wealth quickly.
1-Totally agree   2-Somewhat agree  3-Not sure   4-Disagree   5-Strongly disagree

It is good to splurge at times to help you enjoy life.
1-Totally agree   2-Somewhat agree  3-Not sure   4-Disagree   5-Strongly disagree

Becoming wealthy has a lot to do with luck and good fortune.
1-Totally agree   2-Somewhat agree  3-Not sure   4-Disagree   5-Strongly disagree

Over time your home is your best investment.
1-Totally agree   2-Somewhat agree  3-Not sure   4-Disagree   5-Strongly disagree

Insurance on your life, income, and investments is extremely important.
1-Totally agree   2-Somewhat agree  3-Not sure   4-Disagree   5-Strongly disagree

Personalized and trustworthy financial advice is hard to find.
1-Totally agree   2-Somewhat agree  3-Not sure   4-Disagree   5-Strongly disagree

There is too much confusion on how financial institutions are being paid.
1-Totally agree   2-Somewhat agree  3-Not sure   4-Disagree   5-Strongly disagree


(The second in a series of three articles by Mitch Anthony on the importance of  you and your clients understanding one another's beliefs about financial matters.)

©2008 Mitch Anthony. All rights reserved. Mitch is the president of the Financial Life Planning Institute and Advisor Insights Inc. He is an industry leader in training advisors on building life-centered relationships. His numerous books include The New Retirementality and Your Clients for Life. He can be reached at [email protected].


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