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Why Traditional Discovery Methods Lead to Flawed Recommendations

Every financial advisory firm has a client planning process which it considers to be sound. This process likely started as a core philosophy and then evolved over time based on best practices, experiences and some nice to do’s for the business. Nevertheless, the question facing the firm is whether its planning process is engaging enough to attract clients in today’s competitive world and still able to meet increasingly tougher compliance requirements.  There is an inherent tension between enhancing client engagement, which boosts revenues, and compliance, which protects the business. Further, there is a general stress between advisors who tend to be entrepreneurial focused on sales and home offices interested in protecting the status quo but wanting more revenue. read more

Authors: Hugh Massie and Eamon Porter, DNA Behavior International