The Current State
Though “discovery” is generally associated with the upfront onboarding of a new client, leading advisors view discovery as a continuous process that integrates with ongoing advice, planning, and management.
The big opportunities for development here are related to adopting more of a “continuous discovery” mindset and finding the most productive process to support it:
- Migrating to a more real-time collaborative planning (or “co-planning”) model.
- Adopting profiling tools that can be run quickly and repeatedly to keep up with changes in client preferences.
- Having a personal library of client understanding tools and exercises that can be introduced across time to explore new aspects of the client’s financial life.
Resources to Help You Succeed
Real-time, collaborative planning (co-planning) can enhance client understanding while increasing the productivity of time-spend with clients (as well as the advisor’s own productivity).
Get up to speed on co-planning and learn from two practitioners who advocate co-planning as one means for enhancing client discovery & understanding:
Taking the time to explore life transitions with clients (current and anticipated) can be a powerful, on-going entry-point into deeper discovery with clients.
High Performing advisors have a continuous discovery mindset. There are always opportunities to learn new and meaningful things about clients – how proactive are you?