When getting to know a client, some questions dig deeper than others. Oddly, sometimes it’s the least direct ones that reveal the most.
Behavioral finance, the study of how psychology affects markets and investors, can shine a light on which inquiries will get to the root of clients’ motives. Advisors who take this approach use deeply personal, reflective questions to get a sense of their clients’ fears, desires and habits — good or bad — with money.
Financial Planning asked four such advisors to share their favorite, most illuminating questions. Here’s what they’re asking: