Northern Trust Mock Interview
Practice 30 Northern Trust interview questions covering wealth management, fiduciary standards, and client service excellence.
Question 4 of 30
In an introductory client meeting, how do you initially assess a client's financial position?
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Rachelle Enns is an interview coach and job search expert. She works with candidates to perform their best in employment, medical, and post-secondary admission interviews.
When it comes to a client's financial position and financial risk tolerance, it's imperative that you, as a wealth management professional, know how to accurately and carefully assess their financial status. Show the interviewer at Northern Trust that you can take the appropriate steps when first meeting or onboarding a new client.
Rachelle Enns is an interview coach and job search expert. She works with candidates to perform their best in employment, medical, and post-secondary admission interviews.
"As a responsible wealth management professional, it is essential that my clients know their bandwidth when it comes to the risk they are willing to take and where they want to be in the near and far future. I saw a lot of pain during the economic downturn as so many investors overestimated their ability to stomach the risk and the downside of investing. When first assessing a client's financial position, I ask discovery questions. I also perform time horizon tests such as NestEgg Estimates and other stress tests to ensure they understand where they are as far as their financial future and the risk they are willing to take."
Rachelle Enns is an interview coach and job search expert. She works with candidates to perform their best in employment, medical, and post-secondary admission interviews.
"There are many ways to assess my client's financial position. I am analytically minded and know that the truth is always in the numbers, so I rely on data from stress and tolerance tests. I ask questions regarding future planning and their level of comfortability when it comes to risk. Everyone is different, and I must treat each client as a unique case."
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