Initial Consultation & Goal Setting

A client meets with a financial advisor for the first time to discuss their current financial situation, investment experience, risk tolerance, and long-term financial goals (e.g., retirement, buying a home, children's education).

Dialogue

Listen and follow along with the conversation

Financial Advisor (Male)

Welcome, Mr. Lee. Thanks for coming in. To start, could you tell me a bit about what brought you here today and what you're hoping to achieve with our financial planning services?

Client (Female)

Hi, Ms. Chen. Well, I'm looking to get a clearer picture of my financial future, specifically for retirement, but also to explore options for a down payment on a new home within the next five years. I'm a bit overwhelmed with all the investment options out there.

Financial Advisor (Male)

That's perfectly understandable. Retirement planning and home ownership are excellent long-term goals. To help me tailor a plan, could you give me a brief overview of your current financial situation, your income, and any existing investments, even if they're small?

Client (Female)

Sure. I'm currently employed full-time, steady income. I have a modest savings account and a 401(k) through my employer, which I contribute to, but I've never really ventured into the stock market or other investments beyond that. My investment experience is pretty limited, to be honest.

Financial Advisor (Male)

Thank you, that's helpful. Now, regarding your risk tolerance, how would you describe yourself? Are you comfortable with potentially higher returns that come with higher risks, or do you prefer a more conservative approach with stable, albeit lower, gains?

Client (Female)

I'd say I'm moderately conservative. I understand that some risk is involved with investing, but I'm not looking for extreme volatility. I'd prefer a balanced approach, perhaps with a focus on long-term growth rather than quick wins. Losing a significant amount of capital would definitely keep me up at night.

Financial Advisor (Male)

Understood. A balanced approach for long-term growth while managing downside risk is a very common and sensible strategy. Based on what you've shared, we can definitely work towards comprehensive goals.

Client (Female)

Great! So, what would be the next steps? Should I bring any specific documents for our next meeting?

Financial Advisor (Male)

Yes, I'll send you a checklist of documents, mainly statements for your existing accounts and a general overview of your monthly expenses. That will help us get a clearer financial picture. Our next step will be to analyze your current situation in detail and propose initial strategies.

Vocabulary

Essential words and phrases from the dialogue

retirement

The time when a person stops working, usually after many years, and lives on savings or pension. In financial planning, it's a key goal for saving money long-term.

down payment

The initial amount of money paid when buying something expensive, like a house, to secure a loan. It's a partial payment upfront.

investment

Putting money into something like stocks or property to make more money over time. It's a way to grow your wealth.

risk tolerance

How much financial loss a person can handle without stress. In investing, it helps choose safe or risky options.

conservative

In investing, it means preferring safe choices with low risk, even if returns are smaller. Opposite of aggressive.

volatility

How much prices of investments go up and down quickly. High volatility means big changes, which can be risky.

capital

The money used to start or grow a business or investment. Losing capital means losing your main invested money.

checklist

A list of items or tasks to complete, like documents needed for a meeting. It's a helpful tool for organization.

Key Sentences

Important phrases to remember and practice

To start, could you tell me a bit about what brought you here today and what you're hoping to achieve?

This is a polite way to begin a conversation by asking about someone's purpose and goals. It's useful in professional meetings to gather information. Notice the indirect question 'could you tell me' for politeness.

I'm looking to get a clearer picture of my financial future.

This expresses a desire for better understanding of one's money situation. 'Looking to' means 'wanting to' or 'seeking.' It's practical for consultations when explaining needs.

Could you give me a brief overview of your current financial situation?

This requests a short summary of someone's money status. 'Brief overview' means a quick summary. Use this in advisory roles to collect basic info without overwhelming the other person.

My investment experience is pretty limited, to be honest.

This admits a lack of experience truthfully. 'To be honest' adds sincerity. It's useful when discussing skills or background to build trust in conversations.

Regarding your risk tolerance, how would you describe yourself?

This asks about someone's comfort with financial risks. 'Regarding' means 'about' or 'concerning.' It's a key question in investment talks to tailor advice.

I'd say I'm moderately conservative.

This describes a balanced view on risks, not too safe or risky. 'I'd say' is a casual way to express an opinion. Use it to explain personal preferences clearly.

So, what would be the next steps?

This asks for the following actions in a process. It's straightforward and useful at the end of meetings to clarify plans and show engagement.

That will help us get a clearer financial picture.

This explains how information leads to better understanding. 'Financial picture' is an idiom for overall money situation. Use it to justify requests for details in planning.