Story by: Ben Hein, Financial Advisor – Heinsight Wealth
How do you learn what money means to a client, not just what they say they want?
Listen for: Curiosity, patience, and a method for getting past surface answers.
Good response:
“I ask about first money memories, family dynamics, and moments of shame or pride. Habits and patterns present themselves, and what good is this money (and work environment) if we are missing out on life.”
(Common) Bad response:
“We use a goals questionnaire and risk tolerance survey to determine priorities.”
The Reality:
If an advisor puts mostly tools, worksheets, and quizzes without a proper sit down/interview… it’s not much different than a doctor asking you to take your own X-Ray (you may want a different doctor!).
What patterns do you see in clients right before they make big financial mistakes?
Listen for: Pattern recognition across many lives, not one-off anecdotes.
Good response:
“Big mistakes usually come during life events like, career change, burnout, divorce, or after the death of a loved one. I want to make sure my clients feel heard, they feel grounded and regardless of our financial decision, they feel validation for the way they feel.”
(Common) Bad response:
“People panic when markets go down.”
The Reality:
You want someone who is going to be aware of bad decisions BEFORE you make a bad decision. I always say, “You’re the pilot of this plane, we’re your co-pilot” – and a good co-pilot looks ahead and sees environments that cause turbulence.
Tell me about a time when advice changed, because life changed—not the market.
Listen for: Adaptability and respect for family and the human context.
Good response:
“I had a client who was losing their family, marriage, and their relationships because of the career they chose… we redesigned their plan, worked with a recruiter to find a new career that was no longer a sacrifice. He could be home for dinner, repair the marriage, and be at church with the family on Sundays.”
(Common) Bad response:
“Our strategy is long-term, so life changes don’t really affect the plan.”
The Reality:
Rigid frameworks equal future regret. No one on their deathbed ever said, “man, I wish I worked more!”
What happens if I want to move to cash because everything will go to zero?
Listen for: Moral courage and willingness to push back.
Good response:
“In that case I recommend investing in cows and chickens, and for commodities, brass and lead (joking). I want to address the reality of those things happening, and what’s really driving the fear. Are there better or more conservative options we can consider investing in?”
(Common) Bad response:
“Ultimately, it’s the client’s decision, and my job is to execute or adjust risk tolerance”
The Reality:
That’s abdication, not advice. Risk tolerance is how an advisor “grades” your comfort with risk. Often, adjusting a risk tolerance will also push your retirement time horizon out further, so this is something you should be informed about.
If life goes off-track: divorce, burnout, sudden death in the family, how does your advice change?
Listen for: Specific actions, not reassurance.
Good response:
“We pause execution (saving), revisit assumptions, simplify decisions, and re-evaluate the time horizon. The plan becomes about stability and navigating the “unknown” – not JUST optimization… and if things are REALLY bad, we will help pick up the pieces and help find a new normal.”
(Common) Bad response:
“We’ll be here to support you, if you need anything… just call.”
The Reality:
Your expiring car warranty representative will tell you the same thing. Confronting, but empty – I want someone to be present for the people I love most, when they need someone the most.
After a long relationship, what would you hope I say you understood about me?
Listen for: Depth of relationship vision, not just finances.
Good response:
“That I understood what really meant the most to you, what you were trying to protect. That I understood how you defined success, and lastly money was never my god.”
(Common) Bad response:
“That I helped you reach your financial goals.”
The Reality:
That’s the bare minimum. A 1-800 number and a robo-advisor could do the same thing. Look for someone who is raising the bar.
www.heinsightwealth.com
(850) 202-1895
6345 Mobile Hwy, Pensacola, FL 32526
