Client Engagement Skills Q & A

Question 1

(a) Key behavioral finance issues

Financial issues according to the client scenario have presented retirement plans regarding issues that need to be solved with the effective pension scheme. According to the client's financial condition has conducted a certain amount for investment along with existing joint investment with his son that needs to be effective for the pension scheme. Investment in the capital market is required for efficient knowledge and investment strategy for better risk and reward ratio. Previous investment decisions by financial investors lead to a financial process to the client that impacts on the financial position (Wildman et al. 2019). Financial activities of investment finance have to be informed regarding financial positions along with risk appetite that are going to work as an effective investment approach by the investor. Based on previous investments the client has presented a financial deficit in the investment portfolio because of risk and reward absence.

(b) Presentation of evidence

Evidence regarding the scenario has presented a financial deficit in the portfolio due to a lack of analysis of market changes along with risk appetite absence. Approaching toward investment activity investors portfolio has been affected by lack of financial advisory. Evidence regarding investment growth in portfolio presentation has provided effective potentiality in organizational benefits with effective growth of market change, whereas risk appetite ratio absence leads to drastic fall in investment portfolio (Merritt, 2020). Investment of $7,000 by client has been affected by a lack of investment risk management strategy, the investment portfolio has come down to $2500. The unwanted financial deficit in the investment portfolio reduces the pension volume of the client that could affect his retirement life. Evidence of financial deficit has been identified by the investment portfolio of the client that conducted the requirement of effective financial advice which is created with an affordable risk appetite approach.

(c) Consequences of the impact of issues

Client-adviser relationship has been conducted with proper manners that evaluate risk and reward of investment activities that enrich Investment portfolio. Client advisory relationships should be positive to gain financial benefit in operational activities that conducted effective growth of wealth by proper risk management strategies. Based on the scenario of the client at present, the consequences of pre period various investment advisory impacts negatively on the portfolio that provide a positive relationship with customers would be possible by proper identification of current financial position along with effective growth possibilities considering risk appetite capacity (Surmon-Böhr et al. 2020). Impact of lack of communication with clients reduces potential of investment portfolio growth, additionally also affects financial planning of retirement. Current prospect of the client has indicated a financial deficit in the investment portfolio due to lack of client engagement activities. Absence of current financial position identification of client affected financial growth of investment portfolio and also impacted on retirement plan that reduced financial stability of the client. Lack of engagement toward client satisfaction Investment advisory impact on investment portfolio impacted as negative financial reward.

(d) Remedy of issues

Remedy of issues regarding positive client advisory relationship, financial advisors need to analyze the current financial position of the client that helps to understand risk appetite and possibilities of financial gain. Improvisation of client engagement in advisory activity investment advisor need to identify potentiality of investment portfolio and also deliver continuous monitoring approach to reduce uncertain risk by implementation of risk management strategy. Continuous reporting to clients about investment portfolio growth or deficit indicates a positive client handling approach by investment advisors that provide informative and consulting based further approaches for wealth creation (Ramos et al. 2021). Investment advisory activity conducted by investment funds and risk appetite capacity of investors is going to be effective information to create a diversified portfolio, where a positive approach by investment advisors effectively works on averaging risk of investment and increasing the potentiality of wealth creation.

(e) Communication approach

• Investment advisors should show their own biases in guidance, which is going to conduct financial transparency among customers and investment advisors. Implementation of transparency between two responsible authorities provided an effective communication approach, where investors should take action for a further risk management approach to reduce the percentage of risk.
• Risk acceptance in investment approach investors would be identified possibilities of financial deficit regarding information that is going to help to build relation between plant and financial advisor. Risk of investment would be identified by the tolerance ability of the client that is going to be evaluated before investment activities. According to the case study, client investment value $7000 oriented potential ladies would be identified and delivered proper risk management approach to client by financial advisor.
• Addressing past loss in investment of clients would be identified by the financial advisor through monitoring previous investment approaches and what finance elements have been used to reduce the risk factor. Investment in the specific financial element financial advisor has identified limited exposure to wealth creation that leads to financial deficit in past investment approaches (Little et al. 2020). As per the prospect of past losses concerning other investment activities financial advisors need to invest funds by diversifying portfolio creation. Concerned about previous losses of the client that are going to be evaluated in a father investment approach to creating a diversified portfolio and reducing the risk factor of uncertainty of the capital market is going to be an effective investment strategy for wealth creation.
• Response of client has been identified in the case study at present client is concerned about fees of financial advisor along with different investment activities which strategies would be developed by financial advisor for further investment. Additional requirements of the client have not been considered that have an impact as a negative approach to the client by the financial advisor (Eilert et al. 2022). Additional identification of the current financial state of the client would be evaluated before investment by the financial advisor, where current income, other different sources of income have not been considered in conversation that might lead to the ineffective investment activity in further progression of wealth creation. According to the prospect of different financial advisors in activities, financial advisor identity in existing investment of clients that would be evaluated for father in the basement opposed to minimizing previous financial losses along with proper risk management Strategies for further investment approach that has not been mentioned in the conversation between client and financial advisor.

(f) Recommendations for better client engagement

• Effective engagement with client by financial advisor would be possible to property identity identification past track record got along with further expectation of client with new investment activities, that going to represent positive approach by financial advisor. Investment approaches in capital market financial advisors need to be developed with proper management strategies to reduce the risk factor of a client's invested funds that is going to evaluate proper justification of investment approach in different equity, index fund or Mutual fund.
• Positive conversation with clients would be possible by a financial advisor approach to managing past financial deficits along with creating effective investment plans for further investment activities. Identification of possibilities of investment by investors considering present financial conditions provide a positive note toward the client, which would be considered as an effective investment activity and positive approach by the financial advisor (Ludvig et al. 2018). Effective conversation with clients has required effective guidance and risk management strategy implementation in investment that provide an effective risk and reward ratio to the client for further investment.

Question 2

(a) key behavioral finance issue

Financial issues of the client have been identified regarding previous loss in business activity that impacted on clients financial condition adversely. Additionally behavioral activities of the client have been identified regarding lack of information about the capital market which is reluctant to invest in equities of different organizations. Approaching positively for clear activities of financial services by a financial advisor would identify different financial crises that have been faced by clients in previous financial activities (Turner, 2019). Based on the provided information regarding clients having losses around $50000 previous business activity that reduces confidence level to take financial decisions. Financial advisors have delivered effective investment policies for investing in the capital market that would be concerned about risk factors in investment activities. Identification of financial issues of the client has determined lack of knowledge regarding financial investment plans along with previous business losses impact negatively on wealth creation.

(b) Presentation of evidence

Supportive evidence regarding Scenario of the client has presented financial loss in the previous business activity impact as negative investment approach by investors to the business. Additional evidence has been identified that lack of financial knowledge regarding investment in the capital market provides a fear factor regarding the risk of investment. Approaching evidence practices regarding financial activities of clients have been evaluated by analyzing the process of the financial advisor by considering the current financial state of the client (Rollins, 2020). Evidence regarding the financial issues of the client has been identified by previous loss in business activity of around $50000 has impacted negatively on financial condition. Approaching evidence collection regarding financial condition evaluation of the client's previous financial transactions and investment fund regarding information would be analyzed by a financial advisor to make effective investments for further investment in the capital market with proper risk analysis.

(c) Consequences of the impact of issues

Consequences of financial activities to the client have been identified as a lack of productivity of investment in business activities that reduce the potentiality of wealth creation. Impact on financial condition of the client regarding previous financial loss in business activity is lack of growth of investment along with uncertainty of further investment approach reducing potentiality of future gain. Inadequate investment plan of client impact of negative on present financial condition that would have adverse impact on future activities regarding growth of investment fund (Zheng et al. 2020). Lack of procedure in business activities impacted on financial conditions and other laws, where the investment plan in the capital market would be possible by proper advisory based investment approach. Consulting with a financial advisor has been considered as evidence of financial losses in previous investment activities.

(d) Remedy of issues

Remedy Regarding financial issues of the client has been identified in case study has conducted different types of investment activities for better wealth creation opportunity. Remedy of financial condition development has identified different types of investment approach in capital market i.e, investment in different shares of the companies would be evaluating initial advantage in risk management along with effective potentiality in wealth creation (Turner, 2019). The growth opportunity of the investment fund would be possible by proper risk analysis process implementation before investment that considers previous years performance of organizations or index funds to identify potential growth opportunities in future. Another remedy regarding previous financial losses would be manageable by investment in the capital market with appropriate strategic investment activities, which would be presented by a financial advisor.

(e) Communication approach

• Discussion regarding any biases has been contacted by the financial advisor, the client would be able to take an effective decision to withdraw the investment fund as per requirement (Magill and Hallgren, 2019). Additionally, the prospect of biases by financial advisors has been identified by investors that would be contacted with questions regarding the efficacy of Financial advisors, when clients need to adopt a substitute action plan to secure the investment fund.
• Future investment activities of the client position has been identified as investment in the capital market, which is going to help in planning about retirement and also deliver effective growth potential of the investment fund. Approaching with positive this, analyzing activities regarding investment funds help to identify potential benefit and its possible risk in investment psychological impact positively to the client.
• Financial advisor address to secure retirement and pension activities by investment in capital market that is going to deliver positive impact on investment with continous deleveration of dividend (Turner, 2019). The present condition of the client has identified financial issues regarding retirement planning that would be resolved through risk analysis-based investment activities in the capital market.
• Response of client has been demonstrated to the advisor about concern regarding risk factors of capital market. Additionally, market trends regarding information and analyzing capacity would not be identified by clients which could lead to financial deficit in investment (Azmat et al. 2021). Risk analyzing activity would be identified by a financial advisor that conducted positive sentiment for clients to further investment.

(f) Recommendations for better client engagement

• Positive and better communication activities by financial advisors would be possible to secure investment funds for clients with effective risk-analyzing activities. This means that possibilities of risk with reward comparative analysis are going to be conducted ineffective investment plans for clients. Effective conversation with clients would be achievable by analyzing the current financial activities of clients that presented possibilities of future gain as per investment in the capital market. A positive approach by financial advisor conduct effective growth in wealth creation, where client Would be reliable on a financial advisor to manage their of the fund according to the market trend that secures investment fund and also provide affective growth to an investment portfolio.
• Communication with clients would be effectively worked by a financial advisor's positive approach toward financial growth which means continuous monitoring of investment fund impact on the portfolio of clients that provide security to clients' investment fund value (Vassolo et al. 2021). Different financial elements of information passed on to clients would be effective to identify what is the better option to invest for future gain. Additionally, different management strategies implementation to manage the uncertainty of the capital market impact on investment portfolio would impact positively client and financial advisor relationships.

Reference list

• Azmat, F., Jain, A. and Michaux, F., 2021. Strengthening impact integrity in investment decision-making for sustainable development. Sustainability Accounting, Management and Policy Journal.
• Eilert, N., Timulak, L., Duffy, D., Earley, C., Enrique, A., Kennedy, P., McCormack, C., Palacios, J., Wogan, R. and Richards, D., 2022. Following up internet?delivered cognitive behaviour therapy (CBT): A longitudinal qualitative investigation of clients' usage of CBT skills. Clinical Psychology & Psychotherapy, 29(1), pp.200-221.
• Little, A., Tarbox, J. and Alzaabi, K., 2020. Using acceptance and commitment training to enhance the effectiveness of behavioral skills training. Journal of Contextual Behavioral Science, 16, pp.9-16.
• Ludvig, A., Wilding, M., Thorogood, A. and Weiss, G., 2018. Social innovation in the Welsh Woodlands: Community based forestry as collective third-sector engagement. Forest Policy and Economics, 95, pp.18-25.
• Magill, M. and Hallgren, K.A., 2019. Mechanisms of behavior change in motivational interviewing: do we understand how MI works?. Current Opinion in Psychology, 30, pp.1-5.
• Merritt, L., 2020. Impact of Nurse-Led Motivational Interviewing on Health Literacy & Client Engagement in the Behavioral Health and Addiction Outpatient Community Setting (Doctoral dissertation, Grand Canyon University).
• Ramos, G., Brookman-Frazee, L., Kodish, T., Rodriguez, A. and Lau, A.S., 2021. Community providers’ experiences with evidence-based practices: The role of therapist race/ethnicity. Cultural Diversity and Ethnic Minority Psychology, 27(3), p.471.
• Rollins, W., 2020. Social worker–client relationships: Social worker perspectives. Australian Social Work, 73(4), pp.395-407.
• Surmon-Böhr, F., Alison, L., Christiansen, P. and Alison, E., 2020. The right to silence and the permission to talk: Motivational interviewing and high-value detainees. American Psychologist, 75(7), p.1011.
• Turner, P., 2019. Employee engagement in contemporary organizations: Maintaining high productivity and sustained competitiveness. Springer Nature.
• Vassolo, R.S., Mac Cawley, A.F., Tortorella, G.L., Fogliatto, F.S., Tlapa, D. and Narayanamurthy, G., 2021. Hospital investment decisions in healthcare 4.0 technologies: Scoping review and framework for exploring challenges, trends, and research directions. Journal of Medical Internet Research, 23(8), p.e27571.
• Wildman, J.M., Moffatt, S., Penn, L., O'Brien, N., Steer, M. and Hill, C., 2019. Link workers’ perspectives on factors enabling and preventing client engagement with social prescribing. Health & Social Care in the Community, 27(4), pp.991-998.
• Zheng, Y., Graham, L., Epitropaki, O. and Snape, E., 2020. Service leadership, work engagement, and service performance: The moderating role of leader skills. Group & Organization Management, 45(1), pp.43-74.
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