Guiding Positive Change with the Life Transitions Survey

As one of the centerpieces of the M.Q. Financial Life Planning toolkit, the Life Transitions Survey is likely part of your client meeting process, but are you using it to its full potential?  The Life Transitions Survey is designed to help your clients better understand the inextricable ties between life and finance.  It will also open the door to discussions that will help your clients navigate the financial implications of both planned and unplanned changes encountered along life’s journey, providing you with an excellent opportunity to help guide your clients through positive change.  Here are a few tips:

  • The Life Transitions Survey will give you the opportunity to make observations or suggestions that might facilitate a successful life transition.  For example, a job loss may be a good time to also consider a career change, or to downshift in order to gain a more equitable work-life balance.
  • The Life Transitions Survey process may also give you the opportunity to make referrals to other professionals that can assist your clients in making successful transitions.  Examples include career counselors, grief counselors, geriatric care managers, estate planning attorneys, accountants, dispute mediators, business consultants, etc.
  • Encourage your clients to be proactive in preparing emotionally and financially for the life transitions they are likely to experience in the future.
  • As you review your client’s Life Transitions Survey responses, identify the key areas of concern.  Ask yourself what short-, medium-, and long-term solutions would help this individual be better prepared for his/her life transitions.  What products and services could contribute to these solutions?  What solutions are likely to require a referral to another professional?
  • If your client meeting is with a couple, compare the survey responses of each spouse/partner. Reflect on the similarities and differences. Ask yourself how these differences or similarities will affect your advice. Think about ways that you can use the Life Transitions Survey to facilitate communication, understanding, and cooperation in the couple’s relationship.
  • The Life Transitions Survey can be used to facilitate a goal setting process that is based on the important life transitions of each individual.  As a result, your clients are likely to be more engaged in the planning process and more committed to the long-term results.

Editor’s Note: The Life Transitions Survey is included in all Money Quotient Licensing Levels.  For information about becoming an M.Q. Licensee, please email info@moneyquotient.org.

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