client service

trust-based sales

consulting skills

leadership

22 March 2016

Emo$onalIntelligenceforWealthManagement

Skills to improve your client relationships www.theclientacademy.com

Incollabora$onwithFIBA

WhoareTheClientAcademy?Training,coachingandfacilita7ontoimproveyourclientrela7onships

MonicaHernanzFounder.Spanish.22years’experienceinclientrela$onships.Backgroundinbankingandconsul$ng.

Weworkgloballyfrom3offices

4areasofwork

Clientservice

Trust-basedsales

Consul$ngskills

Leadership

London 4 consultants

Madrid 2 consultants

Panama Office for Latam since 2013

Sampleclientsandexperience

StrategicalliancewithFIBA

ImagefromopencoursewithFIBA“ClientRela+onshipManagementforPrivateBanking”

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WhatisEmo7onalIntelligence

Emo$onalIntelligenceisthecapacitytoreadandmanageouremo+onsaswellasotherpeople’ssothatwecanguideourbehaviourtowardsthebestresultinthecurrentsitua$on

WhatisEmo7onalIntelligence

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Beingemo$onallyintelligent

Beingemo$onal=UnderstandingBeingincontrolManagingemo$onstowardsresults

ConfusionLackofcontrolResultswedon’twant

It’saskill,itcanbelearned

•  Paul(Rela$onshipManager-RM)isfeelinganxiousbecausehe’snotmee$nghisclientacquisi$ontargetsandakeyclientismovingtoacompe$tor

ExampleofEmo7onalIntelligenceinWealthManagement

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•  Keepsquietandisworriedduringtherestofthecallsandmee$ngstoday.

•  Keepstellinghimselfthathe’snogoodatthisjob.

• Missesopportuni$esduringthemee$ngs.Someofthoseclientshewon’tseeforanother3months.Itreinforceshisbeliefthathe’snogoodathisjob.

• Goestothegymatlunchtoeasetheanxiety.FeelsbeXeraYerwards.

•  Remindshimselfofpreviousachievements.

•  Reflectsonwhatmayhavegonewronginpreviousmee$ngs.

•  AYernoonmee$ngsareproduc$veandhespotsnewopportuni$es.

Emo7onallyintelligentresponsePurelyemo7onalresponse

Sailinganalogy:Emo7onalIntelligencearethesails

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•  Wearetheboat

•  Theseaisourcircumstances

•  Thewindareouremo$ons

•  ThesailsareourEmo$onalIntelligence.Theyallowustogetourboattotherightdes$na$onwhateverthewindandseacondi$ons

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PeoplewithhighEmo7onalIntelligence

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•  Understandthemselvesandtheiremo7onswell•  Areabletoexpresstheiremo7onsappropriately

•  Canbuildandmaintainsa7sfactoryrela7onships

•  Useemo7onalinforma7ontomakebeMerdecisions•  Cancopewellwithchallengesanddifficul7es

Emo7onalIntelligenceispar7cularlyimportantinWealthManagement

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•  Rela7onshipManagershaveaverycloserela+onshipwiththeirclients,basedonpersonaltrust.Whethertheysucceedorfailwithapar7cularclient,itcanfeellikebeingpersonallyvalidatedorpersonallyrejected.

•  Moneyandfamilyaretwotopicsthatelicitverystrongemo+ons.It’simportanttobeemo7onallyintelligentwithyourclientssothattheycanbetoo.

•  Theindustryisfacingverytoughcompe++on,regulatorychangesandgenera+onalchangeinclients.Theuncertaintyofthesechangescangeneratestress,affectself-esteemandmakedecision-makingdifficult.

1983 1990 2000

Evolu7onofEmo7onalIntelligence

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Mul$pleintelligences

ReuvenBar-On

HowardGardner

JohnMayerPeterSalovey

DanielGoleman

Emo$onalwell-beingCopingwithstressanddifficul$es

Createtheterm“Emo$onalIntelligence”YaleCentreforEmo$onalIntelligence

Writesthebest-sellingbook“Emo$onalIntelligence”

1995

Mar$nSeligman

StartsthePosi$vePsychologymovement.Focusonsuccessfullives

Bar-Onistheauthoroftheemo$onalandsocialintelligencemodel.Heisinterestedpar$cularlyinwell-beingandhowpeoplefacedifficul$es.

ThecompanyMHS(Mul$-HealthSystems)improvedBar-On’stestin2010andrelauncheditasEqi2.0,focusedonwork.TheEqi2.0isthemostwidelyusedandvalidatedEmo$onalIntelligencetestintheworld.MHS’CEOSteveSteinhaswriXenaveryprac$calbookonEmo$onalIntelligencecalled“TheEQedge”.

AtTheClientAcademyweusetheEqi2.0modelfromMHSandReuvenBar-On

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PsychologistReuvenBar-On

SteveStein’sbook

5areas:•  Self-percep$on•  Self-expression•  Interpersonal•  Decisionmaking•  StressmanagementEachareahas5subscales,15intotal

ThefullEQ-I2.0modelIt’snotjustbeinga“peopleperson”

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PeoplewithhighEmo7onalIntelligence

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•  Understandthemselvesandtheiremo7onswell•  Areabletoexpresstheiremo7onsappropriately

•  Canbuildandmaintainsa7sfactoryrela7onships

•  Useemo7onalinforma7ontomakebeMerdecisions•  Cancopewellwithchallengesanddifficul7es

Self-percep+on

Self-expression

Interpersonal

Decisionmaking

Stressmanagement

Part 1 Emotional Intelligence Self-perception

Self-regard 1

Self-actualization 2

Emotional self-awareness 3

I.

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1. Self-regard I.

•  Accepting and liking ourselves as we are, with our strengths and weaknesses

•  Self-confidence

•  Inner strength

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2. Self-actualization I.

•  Search for meaning •  Liking your work or at least

feeling it’s taking you in the right direction

•  Self-improvement. Seeking challenges that make you better

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3. Emotional self-awareness I.

•  Being aware of your emotions

•  Identifying what it is you’re feeling

•  Understanding what your emotions mean and the impact they will have on you and others

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Emotional Intelligence Part 2 Self-expression

Emotional expression 4

Assertiveness 5

Independence 6

II.

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4. Emotional expression II.

Express openly emotions, verbally and non-verbally

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It’s easier to trust someone expressive, because we feel we can “read” them better

5. Assertiveness II.

Communica<ngwhatyouthinkclearlybutrespec?ully.Balancebetweencourageandconsidera<on

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6. Independence II.

• Standing on your own two feet

• Performing tasks, making decisions and going about your day-to-day without too much reliance on others

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Emotional Intelligence Part III Interpersonal

Interpersonal relationships 7

Empathy 8

Social responsibility 9

III.

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7. Interpersonal relationships III.

Build and maintain mutually satisfying relationships in and out of work

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8. Empathy III.

Identify, understand and appreciate what others are feeling

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9. Social responsibility III.

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Emotional Intelligence Part IV Decision-making

Problem solving 10

Reality testing 11

Impulse control 12

IV.

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10.ProblemsolvingIV.

Analyzingtheemo$onalinforma$ontogetherwiththelogicalone,understandingcausesandconsequences,tofindthe

solu$onthatproducesthebestresult.

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Findingsolu$onswhenemo$onsareinvolved,insteadofgekngboggeddownincircularthinking.

11. Reality testing IV.

Being objective. Seeing reality like most people would see it

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12. Impulse control IV.

Resist or delay the impulse to act

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Emotional Intelligence Part V Stress Management

Flexibility 13

Stress tolerance 14

Optimism 15

V.

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13. Flexilibity V.

Adapting your emotions, thoughts and feelings. Being open to new things.

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14. Stress tolerance V.

• Facing stressful situations

• Maintain an emotional equilibrium at work, avoiding emotional ups and downs

• Having a strategy to deal with stress and avoid burn-out

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15. Optimism V.

Positive attitude and perspectives about life, even in difficult situations

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•  Haveself-beliefwithoutbeingarrogant•  Make$meformeaningfulac$vi$esintheirlife,inandoutofwork•  Areawareoftheiremo$onsandtheimpacttheywillhaveonthemselvesandothers

SummaryPeoplewithhighEmo7onalIntelligence

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•  Expresstheiremo$ons(goodandbad)appropriatelyaccordingtothesitua$on•  Canexpresswithclaritywhattheywantwhilstrespec$ngothers•  Takeintoaccountwhatotherpeoplethinkbutcanworkandmakedecisionsindependently

•  Buildmutuallysa$sfyingrela$onshipsinandoutofwork•  Feelempathyforothers•  Aremo$vatedbycontribu$ngtosomethingbiggerthanthem(theteam,companyorsociety)

•  Canfindsolu$onstoproblemswhenemo$onsareinvolvedwithoutgekngboggeddown•  Havearealis$cpercep$onofwhat’sgoingon•  Cancontroltheirshort-termimpulses,priori$zingwhat’sgoodfortheminthelongterm

•  Areopentonewac$vi$esandadapttonewsitua$ons•  Havestrategiesforcopingwithstress•  Areop$mis$cthatthingscangetbeXer,andthatmakesthemmorepersevering

SELF-EXP

RESSION

SELF-PER

CEPTION

INTERP

ERSO

NAL

DECISION-M

AKING

STRE

SSM

GT

AninvestmentinEmo7onalIntelligenceproducestangibleresults

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Ernst&Young:PartnerswithhighEQgenerated$1.2millionmore(139%more)fromtheirclientsthanthosewithlowEQ(Boyatzis,1999).

AT&T:91%oftopperformersineachhierarchicallevelhadhighEQ,against26%oflowperformers.EQexplained60%oftheirperformance.(Bradberry2002)

Coca-Cola:DivisionheadswhoworkedtoimprovetheirEQaXained115%overtheirtargets,against85%ofthosewhodidn’timprovetheirEQ.(Bradberry2002)

L’Oreal:WhentheystartedusingEQaspartoftheirrecruitment,salesperpersonincreased$91,370andstaffturnoverwasreducedby63%.(Cherniss,2003)

CasestudyEIinPrivateBankingCIBC

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Top 10% performers Those who missed targets

Suggestednextstepsifyouareinterested

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•  Askmeforaself-assessmentandscoreyourself

•  Choose1-3areastoworkon,thoseyouknowarehavinganimpactonyourperformance

•  PayspecialaXen$ontothoseareasduringthenext2weeks,asifyouweresomeoneelse.Keepajournaltojotdownyourobserva$ons

•  Askmeforasummaryofsimplestrategiestoimproveineachofthe15areas,orbuySteveStein’sbook“TheEQEdge”

•  Joinmeonthe1-dayEmo$onalIntelligencecourseforWealthManagemen$nMiamionMay24th(TBC).AspartofthecourseyouwillcompletethefullEQ-I2.0andreceivea20-pagereportanda1-2-1coachingsessionwithme

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