Psychology of Financial Planning

Chapter 7Client and Planner Attitudes, Values, and Biases

Client meetings involve learning. In some cases, it is the client learning about ways to meet their goals, and in others, it is part of a process where the client learns about themselves and what drives them in their work and personal lives. Regardless, learning is taking place. We all learn in a variety of ways and the more effective the financial planner is at understanding the learning style of their client, the more effective their meetings will be.

The Six Main Learning Styles

1. Visual

Visual learners prefer charts, graphics, maps, images, colors, and maps to receive and communicate information and ideas. Some signs that a person may be a visual learner include:

• Their thoughts wander during verbal conversations.
• They are visually observant, but they miss things that are said verbally.
• They enjoy reading and intensely focus while reading.
• They find charts, graphs, and diagrams helpful in remembering information.
• They desire seeing directions rather than hearing them.

2. Auditory

Auditory learners prefer to receive information through listening and hearing. Some signs that a person is an auditory learner include:

• They like to talk.
• They prefer spoken directions to written directions.
• They prefer audio books to reading.

3. Reading/Writing

Some clients prefer to learn information by reading notes, handouts, or textbooks. Reading/writing learners also benefit by rewriting notes and rereading those notes silently ...