Role Play in Interviews – Getting it Right

Let’s face it, role plays are not most people’s favourite thing! They can feel artificial, and you may often feel self-conscious doing these, so it’s good to be aware that as part of a Financial Planner’s interview, these are still carried out.  There is even more of an “eek!!” value when the pressure is on to do a great role play interview to get the job that you really want!

Role play scenarios are utilised in interviews to assess how candidates handle real-life situations, especially in client-facing or decision-making roles. It’s about showing what you can do, rather than talking about what you feel you can do… so getting this right is super important! Please don’t stress however, as we are here to help, with some tips to help you excel in role-playing interviews…

Make sure you fully understand the situation presented. If you’re unclear about any details, ask for clarification before starting. If they give you a few minutes to prepare, then jotting down some key points from the situation you are being asked to cover can help. Don’t refer to these written notes in the roleplay, but they might help you clarify your mind before going in.

Break down the scenario into its key components:

• What’s the problem or objective?
• Who are the stakeholders?
• Where are the deliberate gaps in the roleplay that you will need to probe in the scenario in order to unearth the missing information?

Understanding the priorities will help you craft a better response.

Think as if you were already in the position. Approach the situation like you would if this were a real client or work scenario – this will put you more at ease. Don’t forget after all, you are in client facing meetings often… so this is just one more!

Remember to build rapport, just like in real life and have a clear structure to the meeting, so through questioning and showing your active listening skills, you get to the outcomes needed.

Treat the role play as a real business interaction, maintaining a professional tone and demeanour throughout. You want the assessors to judge you as if you were with one of their valued clients.

The interview role play given to you will be one designed specifically to measure certain key skills. Take some time to consider before the day about where your major strengths are and how best to showcase these in different scenarios.  You can’t know what situation you will be faced with (just like in real life), but certainly thinking through a good few possibilities can leave you feeling more positive, confident and relaxed.

• Problem-Solving: Show your ability to analyse the situation and propose logical, well-thought-out solutions. Be sure to explain your reasoning and how you arrived at your decisions

• Communication: Pay attention to how you explain things. Be clear, concise, articulate and warm in tone. Tailor your communication style to the role – whether it’s explaining complex ideas in simple terms for a client or discussing strategy with a colleague – make sure your tone hits the mark

• Empathy and Client Focus: Particularly in roles within wealth management, demonstrating empathy, listening to concerns, and addressing the client’s needs are vitally important. Show that you understand the human side of the issue, not just the technical aspects. Ultimately a client will not sign with you if they don’t like and trust you

• Adaptability: Role plays often throw in curveballs, so be prepared to adapt. Flexibility shows that you can think on your feet and handle unexpected challenges.  Don’t panic if your mind goes blank, stay calm, take a few good deep breaths and you’ll more than likely know what to say.  You are used to thinking on your feet in client meetings, and this is no different – just be you

• Body language: There is some debate on how much of our communication is understood through body language. There is the famous 7-38-55 rule by Dr. Albert Mehrabian which says that only 7% of communication is verbal. 7%! The more powerful parts are our tone at 38% and our body language resulting in 55% of the overall communication. So, when it comes to your body language really think about your eye contact, your smile, how you sit, stand, lean, hand gestures, nodding, facial expressions and nervous ticks! Plus be mindful of your tone and pace of speaking. It sounds like a lot, but remember we communicate like this all the time – so just give yourself an assessment

Easy for us to say, I know!  But staying calm is the key – centre yourself every so often if you feel yourself beginning to panic, don’t let it take hold.  It is no different to a normal client meeting where thinking on your feet is second nature, and possibly even part of the thrill of the job.  Go with it!

Don’t rush into a response or talk unnecessarily. It’s okay to take a moment to think through your approach before speaking. Use calm, measured answers as you would normally.  Perhaps ask a question, if you need a minute to think and re-collect yourself.

Even if the scenario becomes challenging, remain calm and poised. Employers want to see how you handle stress – you’ve handled stress before, right?  Think of it as a challenge and rise to it. Remember your demeanour and tone.

Questions aren’t something to be afraid of, they show interest and a desire for clarity, and this can only be a good thing!

So, before the interview role play, ask for more details as required on the scenario, or indeed any aspect that you are unsure of.  Then, also ask questions in the role play itself as you would naturally in real life, so you can better understand the other person’s expectations or requirements. This shows that you are thorough and attentive and want to listen.

In a client scenario, ask open-ended questions to explore the client’s concerns further. This can help you tailor your solution to their needs. It might sound obvious, but it’s amazing how often people forget to do this in a role play, but they do it in real life with clients every day!

This is very important and can be difficult to get right – its all about the balance:

• Confidence is good, arrogance is not appreciated
• Humility is good, ineffectuality doesn’t instil a belief in ability

You should aim to display just the right amount of confidence and the right amount of humility, think of your tone and your body language and mannerisms.

Present your ideas with confidence and in a client scenario, take the time to walk the client through anything they are unsure of.  This has the double advantage of reassuring them and also showcases your knowledge and demonstrates leadership potential.

If you’re unsure about something, it’s okay to admit it – its better not to assume, simply state that you’d like more information or need to consult a colleague or expert and agree a time to come back to them. This shows you’re cautious and aware of your limits – and is exactly what you would more than likely do in real life.

Ask assessors what reservations they have and if you have covered everything that they were looking for. This will give you a great opportunity to address any concerns or reservations in the moment and overcome these. You might have missed something, or they misunderstood what you meant – it gives you the opportunity to clarify and cover all bases. Remember to then ask again if this clarification answers their concern.

At the end of the role play, briefly summarise your solution or approach and gain their agreement on what the next steps should be, post this meeting. Highlight the key points and ensure you’ve addressed their main concerns.

In these client-facing scenarios, suggest next steps or follow-ups. This reinforces your commitment to a continuing long-term relationship with the client and that you are already thinking ahead to future meetings.

The exact scenario obviously cannot be guessed, and will be specific to the wealth management firm, but there are common themes we come across:

• Client Handling: You might be asked to give advice or manage a difficult client. Think about how you can show that you are empathetic, clear in your communications, and that you are solution focused. Maintain a level head and a calm and warm tone at all times. If this situation starts heatedly, remember to slow your pace a little and take the time so that the client feels heard and understood

• Team Conflict: You may need to mediate or handle a disagreement among team members. Showing diplomacy, active listening, and problem-solving skills is vital here. Like in the client handling scenario tone, pace and calmness are important

• Sales/Negotiation: You could be tasked with closing a deal or negotiating terms. Demonstrate your ability to influence, build rapport, and maintain professionalism.  You may also need to demonstrate some of your technical and financial skills. Again, here it is about creating the need, understanding their objections and closing

Practice as much as you can with a friend, mentor, or career coach to get comfortable with different scenarios. Focus on active listening, empathy, tone, body language and clarity in communication.

Always ask the person for their honest feedback at the end, so you can find out from their perspective how well you have done. Tell them not to hold back – you need to know where you are weak, so you can improve and excel.

After all, practice makes perfect!

By preparing for role-play scenarios with these action points, you’ll come across as thoughtful, confident, and capable of handling real-life wealth management challenges.

You can do it!

It just takes a bit of thought and preparation. Rather than being a self-conscious candidate, by thinking this through in advance you can shine as the star that you truly are on the day!

For other insightful information about doing well at interview, check out our article: Video Call Interview Tips: Creating the Best Impression