Module 2 Establish the Counseling Environment Gather Client Information.pdf

Copyright © Ryan H. Law Financial Education. All rights reserved. This study guide is designed to help you more fully understand and incorporate the teachings for this module. Please take time to cross reference this study with your other textbooks and materials to better grasp the concepts presented. Please note that the study guide goes in order of how information is presented in class, not in the order the chapters appear in the book. This study guide does not contain questions about everything in the book – it is meant to be a starting point for your study. You may find filling out this study guide tedious at times – I understand that. Keep at it and you will learn the material well. This study guide will help you learn the concepts, not just memorize a few key things for a test – which information is quickly forgotten. Don’t just copy your answers straight out of the book – think about the answers and answer the questions in your own words. To answer some of the questions you are going to have to do a little research. These questions help bring the material in the book to the real world. I also recommend you print the study guide out and fill it out by hand. Research shows that things we write out by hand stick in our memory longer. You may find it useful to have access to a dictionary during your study. Study smart, and you will pass the exam! Ryan H. Law, CFP®, AFC®

Copyright © Ryan H. Law Financial Education. All rights reserved. Module 2: Establish the Counseling Environment & Gather Client Information Learning Objectives Upon successful completion of this unit, you should be able to:  Establish the Counseling Environment o Create an inclusive, welcoming, and private space o Establish rapport with the client o Provide an overview of the financial counseling process o Inform client of the terms of the client-counselor relationship (for example: confidentiality, privacy, ethics, client and counselor roles and responsibilities, fiduciary) o Answer initial questions from a client about the process  Gather Client Information o Determine what a client wants to accomplish o Determine a client’s current financial and socio‐economic situations (for example: demographics, income, expenses, debt, savings, assets, liabilities, risk management products) o Help client identify personal resources and gaps (for example: knowledge, skills, abilities, support systems) o Clarify the client’s interests, experiences, values, money personalities, and cultural norms Overview Establishing a proper counseling environment will help decrease a client's stress level and build a trusting relationship with your clients. This unit will cover the counseling environment including legal and environmental needs. The financial counseling process continues as the counselor gathers client information, including what the client wants to accomplish and their current financial and socio‐economic situation. Read  Financial Counseling o Chapter 1 – The Financial Counseling Profession o Chapter 2 – Personal Finance Competencies in the Practice of Financial Counseling  Defining the Terms – pages 18-21 o Chapter 3 – The Practice of Financial Counseling

Copyright © Ryan H. Law Financial Education. All rights reserved. o Chapter 5 – The Importance of Self-Awareness for Financial Counselors and Clients o Chapter 8 – Key Communication and Physical Environment Concepts for Financial Counselors  The Physical Environment – pages 119-123 o Appendix  Sample Client Consent and Release  Client Information Sheet  Identifying Income Worksheet  Monthly Spending Plan Worksheet  Worksheet for Planning Periodic Expenses

Copyright © Ryan H. Law Financial Education. All rights reserved. Review Questions 1. What is the overall purpose of financial counseling? 2. What is the underlying foundation of the financial counseling profession? 3. In what areas do financial counselors act as change agents? 4. What are some ways that financial counseling is delivered?

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help