Are Interrogatory Questions Alienating Your Clients? – Part 2

Do you know the difference between Consultative vs Interrogatory Questions?

The difference between Consultative vs Interrogatory Questions influenced me to consider the following questions;

1. With the changes to Full Discloser Of Commission and the potential of a Ban Of Commissions in Canada, are Canadian Advisors asking themselves too many Interrogatory Questions?
2. Are Advisors conditioned to sell Logic vs Emotion?
3. Are Advisors conditioned to ask Interrogatory vs Consultative Questions?
4. Are Advisors turning their clients off by asking Interrogatory Questions too soon in advance of Consultative Questions?

I covered Points 1 and 2 in my May Newsletter.  Please click here to read Are Interrogatory Questions Alienating Your Clients? – Part 1.

Here are my thoughts on Points 3 and 4.

Are Advisors conditioned to ask Interrogatory vs Consultative Questions?

To answer this question, let’s revisit Integrity Selling’s notion that selling is 15% Logical and 85% Emotional along with Integrity Selling’s 6 Step Sales Process.

At the same time let’s revisit the difference between Interrogatory vs Consultative Questions.

So it stands to reason that Interrogative Questions are 15% Logical and Consultative Questions are 85% Emotional. So it would make sense to start asking your clients Consultative 85% Emotional Questions that would lead to the 15% Logical Interrogative Questions because clients don’t buy Logic, they buy Emotions.

Before one can start the Step 1) Approach of Integrity Selling’s 6 Step Sales Process, it would stand to reason that one would first need to understand the clients Behavioral Style so that they can ask the right Step 1) Approach Consultative Questions.  Here is an example on how to Read The People.

Based on the four Behavioral Styles of Dominance, Influencers, Steadiness and Compliance, here are examples of Step 1) Approach Consultative Questions that you can use;

• Dominance; What advice would you give to someone who wants to achieve your level of financial success?
• Influencer; What is it that your friends are doing that is creating financial success for them?
• Steadiness; What financial planning activities do you most enjoy doing?
• Compliance; What are some of the problem-solving techniques that work for you?

Consultative Questions again are all about the Client and 85% Emotional and less to do with 15% Logical, and you stand less of a chance of turning your Client off with getting into Interrogative Questions too early in the conversation with questions like;

• Did you know you were taking this level of risk?
• Who is watching this allocation and these funds for you and adjusting as necessary?

Some Advisors are in too much of a hurry, sidestepping Step 1) Approach, Step 2) Interview /Needs Analysis, Step 3) Demonstration, getting too soon into Step 4) Validation, and the potential of Interrogative Questions far too early in the sales process.

Before I offer my theory on WHY some Advisors get into Interrogative Questions far too early in the sales process, here are some examples of Step 2) Consultative Interview Questions based on the four Behavioral Styles of Dominance, Influencers, Steadiness and Compliance;

• Dominance; What do you want a have happen financially that isn’t happening now?
• Influencer; How do you feel about the financial products and services that you’re receiving now?
• Steadiness; What financial risks can I help you avoid?
• Compliance; What would help your finances run more efficiently?

But some Advisors miss these all too important preliminary Consultative Questions.

Are Advisors turning their clients off by asking Interrogatory Questions too soon in advance of Consultative Questions?

It is said that there are 4 Steps in an Advisor’s Career;

1. Starry-eyed enthusiasm
2. Bloody nose
3. Complicated statistician – driven by fear and fear creates fear
4. Mature sophistication – driven by values and confidence creates confidence

The Advisor gets into the business and is going to go out and revolutionize their clients and their financial world and, in the beginning, add incredible value to their clients and create some income for themselves in the process.

Then they have gone through all of their family and friends and they get out into the real world and run into rejection and wind up with a bloody nose.

So then they become the Complicated Statistician deepening their knowledge about every financial product and service under the sun so that they can answer every potential question under the sun to prevent them from getting a bloody nose. This process is valuable, but the Advisor often times starts to focus too heavily on the 15% Logical which has more to do with the Advisor, and less on the 85% Emotional which has more to do with the Client … the Advisor is unconsciously trying to play it Safe.

The Complicated Statistician Advisor focuses too much on the 15% Logical Interrogative Questions that are often associated with a Personal Financial Needs Analysis leaving behind the 85% Emotional Consultative Questions which are WHY the Client wants to work with the Advisor in the first place.

In my work as a Values and Behavioral Analyst, Advisors are driven by the following Top 3 Values which are;

• Utilitarian – Capitalism, return on investment and time
• Theoretical – Information and knowledge
• Individualistic – Inner strength, personal power

While these Values are essential to be a success as an Advisor, the blind spot is that the Values can become more about what the Advisor wants, 15% Logical, and less to do with what the Client wants, 85% Emotional, if the Advisor does not have a set of Consultative Questions to start their Client conversations based on 85% Emotional.