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Discover the Impact of Asking the Right Questions in Money Conversations

Tactics for Starting Productive Financial Conversations

As a financial advisor, your communication skills can make or break your relationship with clients. Based on insights from Morningstar Behavioral Research, this report reveals the powerful impact of asking the right questions in financial planning conversations.

We looked at two similar, yet profoundly different questions: "What is important about money to you?" versus "Why is money important to you?" Through our research, we analyze how the former leads to more productive conversations, fostering deeper connections and more meaningful insights into a client's financial mindset and aspirations.

This provides a compelling argument for shifting the way financial advisors initiate discussions, steering away from transactional dialogues and towards more holistic and personalized financial planning sessions.

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What's Inside our Research:

  • Understanding the importance of the "What is important about money to you?" question in fostering long-term thinking, abstract perspectives, and positive mindsets in clients. 
  • Insights into the research methodology and findings that highlight the advantages of having money conversations. 
  • Practical insights for advisors to guide clients more effectively by understanding their mindset and helping them visualize their financial future. 

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