Understanding our clients’ goals is critical to our work as financial planners. Only once we truly understand what a client wants to achieve can we devise a strategy and implement a plan.
But why are goals so important? And do our chances of achieving said goals improve with all this naval gazing? To answer that, it helps if we understand how our mind works when we formulate a goal. This is handled by something called the Reticular Activating System (RAS).
The reticular activating system (RAS) is a part of our brain that filters and processes information, focusing on what’s important. In personal goal setting, it helps us notice and pay attention to things related to our goals. (If you are thinking of buying a new Tesla, for example, have you ever wondered why every car on the road is suddenly a Tesla?!).
So, by clearly defining our objectives, we prime the RAS to recognise relevant opportunities and resources, making it easier to stay focused and work towards achieving our goals. It acts as a mental filter, guiding our attention towards what matters most in our pursuit of success.
When we meet new clients, it’s common for them not to have specific goals in mind. Typically, it’s a ‘pension’ or ‘what should I do with X’ type of question. During our first meeting, we explore what’s important to clients. Here are a few questions that we ask to start of the process:
- 1 What’s important to you about money?
- 2 If money were no object, how would you live your life?
- 3 If you could change three things about your current financial situation, what would you change?
- 4 What’s the best & worst thing you’ve ever bought?
- 5 What are you hoping to achieve when working with a financial planner?
- 6 What’s on your bucket list?
How would you answer these questions?
Take our short questionnaire and specific, measurable goals begin to form and unimportant, ‘noise’ can be filtered out.
If you’d like to speak with us about what’s important to you and need help crafting your ‘Master plan’, contact us for an initial chat.
Investment risk information
Please note, the value of investments, and the income from them, may fall or rise and investors may get back less than they invested.
This information is for general information only and does not constitute advice. The information is aimed at retail clients only.
Past performance is not necessarily a guide to future performance.
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