Financial Planning: Client Engagement Skills Forum Post - FPC007B

This assignment is a forum post from a student focusing on challenges in client engagement within financial planning. The student identifies issues like handling ageing clients, addressing irrationality in investment decisions, and the importance of employee training. The post also includes responses to two other posts, discussing topics like dealing with client concerns about financial and human capital loss and the need to provide adequate information to clients to build trust. The assignment highlights the significance of understanding client needs, providing efficient services, and ensuring customer satisfaction in financial planning. The student also discusses the importance of training employees to handle client interactions effectively and provide the best proposals to the clients in which they can invest safely. The assignment also covers the issues of irrationality and bias that are often present in the decision making process of the clients and how to deal with such challenges.

Running head: CLIENT ENGAGEMENT SKILLS
CLIENT ENGAGEMENT SKILLS
Name of the student
Name of University
Author note

1CLIENT ENGAGEMENT SKILLS
Post on Challenges faced Financial Planning pertaining to Ageing Customers
One of the most essential elements involving the process of efficient and effective
financial planning is for the employees of the company to understand the needs and
requirements of the customers and deliver their services accordingly (Stone 2012). In this
regard, one of the major issues involving the handling of clients by the employees of the
company pertains to the issue of handling the needs and requirements of the ageing clients.
There are various aspects that need to be taken into consideration during the handling
of ageing clients when it comes to the process of efficient financial planning. These issues
may involve the likes of forgetfulness of the clients, lack of ability to provide all the required
documents or even the inability to assess their own requirements in an efficient manner
(Teale 2015). In such cases, it is the responsibility of the financial planner to deduce the
financial capabilities of the clients as well as their needs and requirements. In this case, a lack
of training and knowledge on the part of the employees may lead them to provide inefficient
services and disrupt the process of obtaining optimum customer satisfaction.
Response to Post 1
The first post concerns the activities of new insurance advice clients while dealing
with the possibilities of disability or death of the clients. One of the major problems faced in
this category of financial planning pertains to the tendency of the customers to be more
concerned about the loss of financial capital in the future even over the loss of human capital.
In this case, the employees are primarily required to assess the financial security of the clients
as well as their needs and requirements from an objective perspective rather than dealing with
it emotionally. For this purpose, the training of the new employees can prove to be an
efficient device that may help them to make the best proposals to the clients in which they

2CLIENT ENGAGEMENT SKILLS
can invest safely. This process in turn will ensure the safeguard of the interest of the clients as
well as the organization.
Response to Post 2
Another problem faced in financial planning as mentioned in the second post pertains
to the requirement of the clients towards high returns and minimum risks. Such decision
making processes are often guided by irrationality or even bias. However, in order to deal
with such a challenge, the employees are required to provide the customers with adequate
information on their investments. This will in turn prevent the clients from suffering
unnecessary losses and help in building their trust and confidence on the company. Since the
process of financial planning is highly service oriented, the ensuring of high customer
satisfaction can enable the company to attract new customers and thereby obtain productive
and profitable business operations.

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References
Teale, J., 2015. Challenges facing financial planners advising ageing clients with diminished
financial capacity. Financial Planning Research Journal, 1(1), pp.7-21.
Stone, M., 2012. The death of personal service: Will financial services customers who serve
themselves do better than if they are served?. Journal of Database Marketing & Customer
Strategy Management, 19(2), pp.107-119.