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Interviews with Top Advisors for Top Advisors!
Top Advisor Podcast™
Ep. #115 – The Three Discovery Questions Every Advisor Should Ask with Jeff Thorsteinson
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What if the problem you’re trying to solve isn’t the real problem at all? How might that damage rather than help your business?
Jeff Thorsteinson argues that advisors often look for better answers when they should be asking better questions.
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- A growth challenge may actually be a capacity problem.
- A referral problem may point to weak positioning.
- A full calendar may signal over-reliance on the advisor.
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In this episode of Top Advisor Podcast, Bill and Jeff explore why questions are “the operating system of leadership.” The questions advisors ask shape their strategy, hiring decisions, client conversations, and plans for growth.
They discuss Jeff’s “stop, flip, expand” framework, a four-part test for deciding what belongs on an advisor’s plate, and three questions that can transform a discovery meeting.
As Jeff puts it, “The next breakthrough in your business may not require a better answer. It just simply requires a better question.”
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3 Key Takeaways:
- Reframe the problem before solving it. (03:35)
An advisor who says, “I can’t grow the business,” may actually have a capacity problem. If the team is overwhelmed and every decision depends on the advisor, more clients will create more chaos. - Move from pursuit to attraction. (07:03)
Instead of asking, “How do I get more affluent clients?” ask, “What would make affluent clients chase me for a meeting?” That shift changes positioning, niche marketing, authority, thought leadership, and client experience. - Use “stop, flip, expand.” (31:45)
Stop and identify the real problem. Flip the question into a more useful form. Then expand it to uncover the larger issue underneath. “How do I get more referrals?” might become, “What kind of business will naturally attract clients?”
Episode Sponsors:
Connect with Jeff Thorsteinson
- Website: https://www.advisorpracticemanagement.com/about-us
- LinkedIn: https://www.linkedin.com/in/jeffthorsteinson/
- Email: jeffthorsteinson@hotmail.com
Resources:
- RapidFire Referrals
- Get a copy of “The Language of Referrals”
- Get a copy of “Radical Relevance”
- Grab your copy of The Hidden Heist today!
Connect With Bill Cates:
About Our Guest
Jeff is the co-partner in the firm Advisor Practice Management.
Jeff has spent more than thirty years helping financial advisors build stronger, more profitable businesses.
He’s co-founded several advisor-focused companies, including The Newsletter Factory, YouFoundation, Agora Wealth, and Agora Dealer Services, and has worked on thousands of marketing and practice management projects with advisors across North America.
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About Your Host
Bill Cates, CSP, CPAE, works with financial advisors to speed up their growth without increasing their marketing budget.
Advisors tap into Bill’s proven process to multiply their best clients through introductions from advocates and Centers of Influence, communicate their value proposition more effectively, blend digital and human strategies, and create a reputation in a profitable target market. Bill helps advisors move from push prospecting to magnetic marketing – to attract more Right-Fit Clients™.
Bill is the author of 8 books including Get More Referrals Now, Beyond Referrals, Radical Relevance, The Language of Referrals, and The Hidden Heist. He is the founder of The Cates Academy for Relationship Marketing™ and is the host of the acclaimed Top Advisor Podcast – now ranked in the Top 3% of podcasts worldwide.
Do you know someone Bill should interview (including yourself)?
Do you have a topic you’d like to see covered?
Contact Bill Cates directly: BillCates@ReferralCoach.com
