Stoerzinger’s firm has a process designed around a series of questions that draws out clients’ feelings, their goals and what they want their legacy to be. Stoerzinger works with Money Quotient, a Portland, Ore., based firm that specializes in life planning and integrating financial goals into the life plan.

Money Quotient was created specifically to help financial advisors better understand their clients, says Carol Anderson, president and CEO.

“We have seen more interest in life planning since the financial crisis because financial advisors are trying a new approach that brings more value to their clients,” Anderson says. “Asking probing questions nurtures a deeper relationship between advisors and their clients.”

Advisors should encourage their clients to start by telling stories among family members; ask parents what the economy was like when they were young and then graduate to talk about money.  Tell your clients to appreciate the efforts their parents made in life and then thank them, he says.

“From a financial perspective, there is more to planning than the numbers of the stock market,” Stoerzinger says.

 

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