FIVE STEPS FOR EFFECTIVE GOAL-SETTING

Setting goals with your client is one of the most important aspects in the financial planning process. It helps clients to create a picture of the life they desire and keeps them inspired and motivated to achieve it.?

Here are five steps for effective goal-setting:?

Step 1

Ask questions that will help your clients unpack what is really important to them. Apply active listening and show genuine interest to build trust and put your clients at ease to share authentically.?

Step 2

The Wealth Integrator Tool provides you with a framework to explore different lifestyle areas and prioritise them according to their current and ideal satisfaction ratings.

Ask more in-depth questions on the identified areas:

1. What makes this important to you?
2. How would you feel if you achieve your goal?
3. What would happen if you don’t achieve the desired outcome?

Step 3

Delve into what holds them back and how they can reach the ideal ratings level. Capture notes from this conversation under the current satisfaction rating screen in the Wealth Integrator.

Step 4

Create an action plan:

1. What needs to be done and by when?
2. Is there anything that prevents you from taking action?
3. Who will provide you with support and keep you accountable to stay on track?

Step 5

Use the review meetings to monitor progress and establish if any changes have to be made. Celebrate each win with your client.?

For more information, please contact the Financial Planning Coach at Old Mutual Wealth in your region.