The 4 Important Areas


Amar Pandit
A respected entrepreneur with 25+ years of Experience, Amar Pandit is the Founder of several companies that are making a Happy difference in the lives of people. He is currently the Founder of Happyness Factory, a world-class online investment & goal-based financial planning platform through which he aims to help every Indian family save and invest wisely. He is very passionate about spreading financial literacy and is the author of 4 bestselling books (+ 2 more to release in 2020), 8 Sketch Books, Board Game and 700 + columns.

August 2, 2024 | 2 Minute Read
I had written a post “The Magic of the Discovery Meeting” sometime back. Many of you loved it. There are four important areas of the discovery meeting that you need to understand (and then master).
a. The Known:
This is what you figure out through your initial questions and conversations. Your prospective client or client shares these things with you.
b. The Unknown:
The unknown encompasses those aspects that neither you nor the client are initially aware of. These are the insights that emerge through deeper exploration and continuous dialogue. They can be uncovered by asking thought-provoking questions that prompt clients to reflect on their financial situations and long-term goals. It’s about uncovering opportunities or risks that weren’t immediately apparent.
c. The Hidden:
The client hides this information from you. This could be due to embarrassment, lack of trust, or simply not knowing what is relevant. Building a trusting relationship is key to uncovering this hidden information, as it often holds critical insights into the client’s true financial picture.
Remember this is a trust building meeting. And Trust is the currency that will help you unlock the hidden things.
d. The Blind Spots:
The client is blind to these areas. In simple words, these are things that the client cannot see about themselves. As a real financial professional, your role is to bring these blind spots to light, helping clients understand the gaps in the intersection of their life and money and then guiding them to make informed decisions.
Understanding these four areas – the Known, the Unknown, the Hidden, and the Blind Spots – is crucial for a successful discovery meeting. By mastering each area, you can provide personalized guidance to your clients. It’s not just about gathering information but about creating a meaningful dialogue that uncovers the deeper layers of your clients’ financial lives. This approach will not only enhance your skills but also strengthen your relationships (and trust) with your clients, ultimately leading to better financial outcomes for them and a more fulfilling practice for you.
Similar Post
Nano Learning
Niche your way
The biggest fear that advisors have when it comes to niches is this – “What if I say I specialize working with surgeons and a valuable prospect who is a non-surgeon might look ....
Read More
20 August, 2021 | 2 Minute Read
Nano Learning
Learn Something New or Practice Something New
Learn Something New or Practice Something New
14 February, 2020 | 1 Minute Read
Nano Learning
Did you know this 12X Difference?
According to McKinsey’s latest US Asset Management Report, the gap in valuations between the best and the rest is 12X.
Aren’t you shocked or surprised?
Similar or higher diffe ....
Read More
2 July, 2021 | 3 Minute Read
Nano Learning
Master the Bow, Not the Spotlight
I received a lot of love for my post, “Are you Chasing Excellence or the Spotlight?” If you haven’t read it yet, I would strongly encourage you to do so. It dives deep into a ....
Read More
22 November, 2024 | 2 Minute Read
Nano Learning
Are Unconscious Beliefs Controlling Your Practice?
Carl Jung once said, “Until you make the unconscious conscious, it will direct your life and you will call it fate.” These words are powerful, especially for all of us.
8 November, 2024 | 2 Minute Read
Nano Learning
The Magic of the Discovery Meeting
The discovery process is a crucial phase in any real financial professional-client relationship. By the way this is different from just a data gathering or fact-finding meeting...
21 June, 2024 | 2 Minute Read
- 0
- 0
0 Comments