knowledge topics
Communication
KNOWLEDGE EXPECTED OF: Both CFP® Professionals and QAFPTM Professionals
- Define key elements involved in the communication process.
- Sender
- Receiver
- Message
- Medium
- Context
- Noise
- Feedback
- Explain when effective communication occurs.
- Define the methods of communication.
- Non-verbal
- Verbal
- Written
- Identify barriers to effective communication, such as:
- Physical barriers
- System design
- Attitudinal barriers
- Ambiguous words / phrases
- Linguistic ability (e.g. jargon, difficult, inappropriate words)
- Language differences
- Physiological barriers
- Cultural differences
- Gender differences
- Bypassing
- Noise
- Define types of noise that may impact communication, such as:
- Environmental
- Physiological-impairment
- Semantic
- Syntactical
- Organizational
- Cultural
- Psychological
- Religious/Spiritual beliefs
- Identify effective communication strategies, such as:
- Create a receptive atmosphere
- Actively listen
- Use appropriate body language
- Use appropriate tone of voice
- Use congruent language (e.g. body, tone, message)
- Use simple words / avoid jargon
- Avoid unnecessary repetition
- Use mix of modalities
- Clearly articulate message
- Be aware of emotions (belonging to financial planner and individual)
- Encourage and provoke feedback
- Define the types of learning modalities.
- Visual preference
- Auditory preference
- Kinesthetic preference
- Identify communication techniques to address the different learning modalities.
- Identify communication techniques for discovering information about an individual, such as:
- Listen actively
- Ask open ended questions
- Use communication methods that client prefers
- Encourage elaboration
- Explore an individual’s past
- Explore an individual’s view of the future
- Be comfortable with silence
- Collect financial information
- Identify communication pitfalls to avoid, such as:
- Making assumptions
- Making conclusions
- Problem solving
- Making recommendations
- Identify communication styles based on an individual’s personality.†
- Emotive
- Directive
- Reflective
- Supportive
- Identify characteristics that an emotive personality type may possess, such as:
- Active
- Takes social initiative
- Encourages informality
- Expresses emotional opinions
- Identify effective communication strategies when engaging with an emotive personality type, such as:
- Hold their attention with the right pace
- Be enthusiastic
- Avoid formality and stiffness
- Establish a social relationship
- Reduce emphasis on facts and details
- Support their opinions, ideas and dreams
- Maintain good eye contact
- Actively listen
- Identify characteristics that a directive personality type may possess, such as:
- Busy
- Impression of not listening
- Displays a serious attitude
- Likes to maintain control
- Identify effective communication strategies when engaging with a directive personality type, such as:
- Focus the relationship on business and less on social aspects
- Be efficient, time disciplined and well organized
- Provide appropriate facts, figures and success probabilities
- Identify their primary goal (objective) and determine ways to support this objective
- Ask specific questions and note responses
- Identify characteristics that a reflective personality type may possess, such as:
- Controlled emotional expression
- Preference for orderliness
- Seems difficult to get to know
- May be more formal
- Detail focused
- Identify effective communication strategies when engaging with an reflective personality type, such as:
- Use a thoughtful, well organized approach
- Be punctual and well prepared
- Focus the relationship on business and less on social aspects
- Provide supporting documentation
- Avoid pressuring for a quick decision
- Identify characteristics a supportive personality type may possess, such as:
- Quiet and reserved
- Listens attentively to others
- Tends to avoid the use of power
- Makes decisions in a thoughtful and deliberate manner
- Identify effective communication strategies when engaging with a supportive personality type, such as:
- Build a social relationship
- Learn about the things that are important to them (e.g. family, hobbies and major interests)
- Listen to their personal opinions and feelings
- Provide personal assurance and support
- Avoid assertive disagreement and interpersonal conflict
- Provide time to comprehend your proposal and be patient
- Define communication-style bias.
- Explain the importance of being able to flex one’s communication style.
- Identify parts of an individual’s voice†† when communicating, such as:
- Explain how different uses of voice may be interpreted by a receiver.
- Identify non-verbal communication methods, such as:
- Facial expressions
- Gestures
- Posture
- Explain how non-verbal communication may be interpreted by a receiver.
† Manning, G., Ahearne, M., Reece, B., and MacKenzie, H. Selling Today: Creating customer value. 7th Canadian Edition. (2015). Pearson Canada. This specific communication model is provided as a representation of communication models that financial planning professionals should be aware of. Practitioners should possess knowledge of different communication styles
†† Voice can refer to verbal or written forms of communication.
Glossary of Verbs (mouse over to see definition)
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Define
To state exactly the meaning of
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Identify
To be aware of / to recognize and correctly name / to locate an appropriate resource
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Explain
To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it
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Compare
To note the similarities and differences between two or more things
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Estimate
To determine an approximate value for
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Calculate
To find the value using mathematics
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Convert
To change from one form or purpose to another
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Evaluate
To reach a conclusion or make a judgement through careful study
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Interpret
To give the meaning of / to construe or understand / to translate orally
Read more about the Taxonomy used in the FP-BoK
