knowledge topics

Communication

KNOWLEDGE EXPECTED OF: Both CFP^® Professionals and QAFP^TM 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.

Selling Today: Creating customer value. 7th Canadian Edition. (2015).

Glossary of Verbs (mouse over to see definition)

Define

To state exactly the meaning of
Identify

To be aware of / to recognize and correctly name / to locate an appropriate resource
Explain

To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it
Compare

To note the similarities and differences between two or more things
Estimate

To determine an approximate value for
Calculate

To find the value using mathematics
Convert

To change from one form or purpose to another
Evaluate

To reach a conclusion or make a judgement through careful study
Interpret

To give the meaning of / to construe or understand / to translate orally

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Financial Planning Body of Knowledge

knowledge topics

Communication

KNOWLEDGE EXPECTED OF: Both CFP® Professionals and QAFPTM Professionals

Glossary of Verbs (mouse over to see definition)

RELEVANT CASE STUDIES

KNOWLEDGE EXPECTED OF: Both CFP^® Professionals and QAFP^TM Professionals