Six Key Mistakes in Wealth Management Discovery

“The achieve our growth objectives, the first thing we need to get right is our Discovery Process.”

- Bank Wealth Management Executive

Few would argue with this executive’s claim. Discovery is unquestionably one of the most important aspects of developing engagement with prospects and is equally as important in maintaining a deep understanding of your current clients. In our work with wealth management organizations, we are often called on not only to help advisors develop better approaches to Discovery, but also to help them define an objective framework for the Discovery Process that captures the full scope of information that leads to a comprehensive understanding of any prospect or client’s unique situation

As we work with advisors and teams – either in realistic role plays on prospect scenarios, or more tellingly in pre-call planning sessions on real prospect and client situations – we see a series of very common mistakes in the Discovery Process. Here are the six most common:

Discovery is likely the most important skill an advisor can develop as it requires intentionality and a clear framework for how they approach the discovery process in order to build trust and deeper engagement with clients and prospects. At Greene Consulting we’ve been working with a number of clients on this specific topic, helping to define an objective framework for the information that must be uncovered and the strategies their advisors can use to gather the vitally important information and perspectives on each client’s unique situation and circumstances that is foundational to developing a great wealth management relationship.

Call to Action

If you would like to learn more about how you and your firm can enhance the discovery conversations you are having with prospects and clients, and in so doing increase your organic growth, reach out to us at or start a conversation below.