Advisers must probe the 'why' in clients' financial decisions

Speaking to Professional Adviser, Patel said most of the time clients "do not know themselves" and suggested that advisers should delve into the "why" behind financial decisions. This is the starting point for discussions in Patel's meetings. "I tend to challenge assumptions that clients have made, ask the difficult and challenging questions to really understand the reason behind why they have made decisions in the past and how they are making decisions about their future," she said. "I spend my first few meetings helping clients to delve deeper into themselves, to help them establish...