Positive & Productive Client Communication · 630.212.5460 [email protected] 5 Universal...

www.barbarakaycoaching.com � 630.212.5460 � [email protected]

Positive & Productive Client Communication Behavioral Finance Principles in Action


No portion of this presentation material may be copied or distributed without written permission

² Barbara Kay Coaching

Productivity ² Teams ² Clients ² Change ² Leadership ² 

Professionally trained in Clinical Psychology and Coaching, publications include journal articles and two books, The Top Performer’s Guide to Change and The $14 Trillion Woman: Your Essential Guide to Engaging the Female Client. Barbara works with:

Individuals Leaders Teams Organizations Industry Partners

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1.  Introduction: How Humans Think

2.  Fundamentals of Behavioral Finance: Human Bias Thinking

3.  How Biases are Organized & Patterns to Look for in Clients

4.  Communication Steps to Shift Clients out of Bias Thinking

5.  Communication Steps to Engage Client Analytical Thinking

6.  Best Practices for Every Client Conversation

7.  Q & A

Agenda


How Humans Think


How Humans Think: Fast & Intuitive


How Humans Think: Slow & Hard


Bias in Action: Fast & Intuitive


How Biases are Organized


Bias Patterns to Look for in Clients

Pain Avoidance Appeal Accuracy Fear the Unlikely if: ü  Vividly Traumatic ü  Repeated Shared ü  Personally Relevant ü  Strongly Emotional

True & Appealing if: ü  Easy to Understand ü  Appealing ü  Good Story ü  Initial Success ü  Appears Reasonable

Believe True if: ü  Repeated ü  Recent ü  Others Believe ü  True Before ü  Pleasure Now


Solution: Shift Bias Thinking

Stock Market on pace for Worst December since the Great Depression CNBC 12-17-18

Investors Flee Stock & Bond Funds.. Amid Equity Panic in December CNBC 1-7-19


Uncover & Clear Emotional Fog

Step 1: Uncover on the Emotion

ü  Look for emotion first ü  Ask emotion based questions

Fact: Emotion wins the cognitive battle. Rationality is down when emotion is up.


Uncover & Clear Emotional Fog

Step 2: Clear the Emotional Fog

ü Reflect what you hear emotionally ü  Explain “It’s normal” ü Reinforce your role as guide ü  Invite to collaborate & problem-solve

Fact: Reflecting & Normalizing are powerful tools for clearing emotion & reducing anxiety


Activate Analytical Thinking

1. Create Accurate Perspective:

ü  Share history & trends ü  Add new perspectives ü  Talk about their big picture


Activate Analytical Thinking 2.  Use Appealing Vivid Fluency:

ü  Graphics over Words ü  Images over Graphs ü  Simple over Complex ü  Comfort over Stress


Activate Analytical Thinking

3.  Visualize Future Feelings & Experiences:

ü  Normalize human forecasting limitations ü  How will it feel, if......? ü  Review past successes & reinforce

OR


And. . . .


Best Practices in Communication


4 Communication Mistakes to Avoid: 1.  Overselling: Positivity is helpful. Overselling reduces credibility, increases

cynicism and pessimism.

2.  Forgetting to Acknowledge: People cannot move forward, until they feel “heard”. Remember, acknowledging ≠ agreeing.

3.  Not Communicating Frequently: Lack of information increases anxiety and pessimism. In a vacuum humans are wired to assume the worst.

4.  Getting Stuck on Particulars: People may get stuck on particulars or make demands that disguise the real issue. Ask questions to uncover the core concern. i.e. “What is most important for you?”



5 Universal Communication Techniques: 1.  Reflective Listening: Lack of Reflective Listening is a primary reason

people repeat, escalate, get frustrated, argue. Acknowledge with Reflective Listening.

2.  Get the “but” Out!: ”But” erases half or your message (usually the most important half). “I agree with you, but I have found that . . ”.

3.  Agree! + And: Find at least one point of agreement and agree with conviction! Only after agreeing, add with “and” (never but).

4.  Meta-Communicate: Meta-communicate by respectfully addressing

communication beyond the spoken words. “You expression tells me that you might not be following me. What are you thinking?”

5.  Broken Records Work: Respectively stay on point by politely repeating. Don’t be derailed by distractions or escalations.



No portion of this presentation material may be copied or distributed without written permission

² Barbara Kay Coaching

Productivity ² Teams ² Clients ² Change ² Leadership ² 

Professionally trained in Clinical Psychology and Coaching, publications include journal articles and two books, The Top Performer’s Guide to Change and The $14 Trillion Woman: Your Essential Guide to Engaging the Female Client. Barbara works with:

Individuals Leaders Teams Organizations Industry Partners

Bar

bara

Kay

Coa

chin

g ©

201

9 A

ll rig

hts

rese

rved

Positive & Productive Client Communication · 630.212.5460 [email protected] 5 Universal...

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