Emoting Intelligently

OWS: What exactly is emotional intelligence?

Weisinger: Five competencies make up emotional intelligence. The first is self-awareness. You have to know what you're feeling. Then there's mood management. You should be able to manage your emotions and create moods that enhance results; one part of that is learning how to go from a bad mood to a good mood.

The third competency is self-motivation. You have to learn how to turn yourself on. One problem FAs face, if they're honest, is that many of the things they do are really boring. They must learn how to get themselves up to do those things that are cucial to their success.

Fourth is interpersonal expertise. That involves understanding the dynamics of relationships, skills for giving and receiving criticism and building consensus.

Finally, there's emotional mentoring. That involves helping clients deal with their emotions so they don't act impulsively or contrary to their own interests.

OWS: You believe that emotional intelligence is what sets financial advisors apart. Why and how?

Weisinger: Pretty much every financial advisor has the same information and technical expertise. Sure, some advisors are smarter than others, but cognitive abilities peak out before age 20. Nobody at 40 is getting any smarter. That's where the concept of emotional intelligence comes in. That never maxes out. It's the ability to use the emotions and feelings of yourself and those around you as a source of information. Using that information in an intelligent way can make you more productive.

For example, let's say you are anxious because you haven't heard back from a particular client. If you're emotionally intelligent, you recognize that your anxiey is communicating uncertainty. To reduce the anxiety, you have to take action. In this case, call the client, discuss what they're uncertain about and dispel the anxiety.

OWS: How can a broker develop this awareness?

Weisinger: One of the most powerful ideas we discuss in the book is keeping a feeling journal -- a sort of "Outlook" for your emotions. We recommend that you take a reading of your emotions at the end of the day, or at times throughout the day, and note what you are feeling: Anger? Enthusiasm? Anxiety? Happiness? After a week, you can assess what you're feeling most, what you're feeling least and what those feelings tell you about yourself and your workday.

OWS: Are some people just naturally better at this than others? And isn't it a bit touchy-feely?

Weisinger: We're all born with the ability to be aware and read emotions, as well as with the capacity to regulate our emotions. But few of us receive formal training in developing EI the way we do in athletics, for example. If that's touchy-feely and it makes you uncomfortable, I'd ask "why?" Learning about emotions and feelings gives you information that gives you an advantage.

OWS: What is the state of emotional intelligence in the brokerage community?

Weisinger: The general level is not high. But that means

there is a huge, untapped resource available. Advisors don't need more technical knowledge. And they don't need to hear more about marketing. What they need to learn is how to develop trusting relationships, bounce back quickly from setbacks, respond productively to clients' criticisms and stay motivated during rocky times. That's what top producers do, and applying their emotional intelligence helps them do it.

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