How to get clients to act on #financial advice?

It’s not that surprising or hard to imagine clients want a planner with strong leadership qualities who can inspire and motivate them to change.

What are the steps to making a change?

So, why is it that, some clients are prepared for change, and ready to act whilst others continue to procrastinate even though they’re given clear instructions on what to do?

It’s quite empowering to understand the thinking process people jump through before they decide to change and act on it.

Dr Prochaska, author of Changing for Good, explains there are 6 steps most people follow from contemplating change to deciding to change to actually executing the change.

Let’s go through the steps using a simple example of someone going through a change process to save money for a dream family holiday.

Here are the 6 steps of change:

  1. Pre-contemplation

We’re not yet decided for change to occur.

Yes, we understand the obvious benefits of cutting down on unnecessary expenses in order to save money but we are not yet convinced of making such changes will be worth the effort.

A reluctance for change is very strong although in the back of the mind there is the lingering thought of ‘I should start a savings plan soon’.

There’s no point to ‘push‘ your clients to change at this stage as the harder you push, it sends the client into deeper denial, and reluctance for any change.

There simply could be too many distractions, and too many other priorities which is taking precedence than the goal of saving money.

  1. Contemplation

Getting ready to change or thinking about it seriously but not ready to start.

More thoughts are had with the need to save money, and it is starting to take more importance but still the reluctance to start the change is present.

So, what’s blocking the clients to start the savings process? 

To go to the next step, we must understand the cause of the reluctance, and remove the barrier.

It could be as simple as not understanding how and where to start. If you feel confused and lost, it gets frustrating and it seems an awful lot of effort is required to even start so the hesitation mindset sets in.

It just seems ‘too hard’, so how do you make it easy?

  1.  Preparation

Ready to change.

The barriers of reluctance are now removed. Confusion has been replaced with clarity, and knowing what to do. Suddenly, everything seems a lot clearer and easy.

Clients now are ready for change. They understand the need, and the benefits of saving money, and now that they realise it’s easier to start than initially thought, they are fully ready to implement the necessary changes.

They are primed for change, and ready to act on it.

  1. Action

It’s time for change to happen.

This is the sweet spot for both the planner and the client because this is where the ‘dirt hits the road‘ so to speak, and it’s putting the plan into motion!

Clients are making things happen. They now understand what their budget is because they are using tools like an online budget calculator, which was provided by the planner to make the process easier. They know how much they are spending versus how much they are earning. They have worked out where they can reduce expenses, and how much they can save.

They have now set up a regular savings plan, and they are now saving money.

  1. Maintenance

This is the rewarding part of the change process. This is where clients are seeing the real tangible benefits of their change to start the savings process. They can see the money building up in their savings account, and as it grows in dollar value, the excitement and the motivation is at an all time high.

This new found confidence and satisfaction fuels them further, and to continue their savings progress.

They have saved enough money for their dream family holiday. They are excited and proud. They are full of confidence that they have reached their savings goal.

Congratulations are due to both the planner and the clients for a job well done!

By understanding the process of change, you are in a stronger position of influence to motivate and inspire your clients to not only receive your advice but to truly make a difference in helping clients to change from procrastination to action.

Do you have a great financial advice experience you’d like to share?