Daniel Crosby is one of the most highly respected minds in the modern world of behavioral finance, especially within the realm of financial services. As a Chief Behavioral Officer, his job is to help advisors with the practical application of behavioral finance through tools, training, and technology.

He is a best-selling author of two books on the topic (The Laws of Wealth and The Behavioral Investor) and hosts the Standard Deviations podcast. 

We discuss:

• How to effectively embed and communicate the value of behavioral coaching in your practice
• The most common misconceptions about behavioral coaching
• Three specific strategies everyone can use to help improve client behavior
• An exercise to walk you through where your practice can benefit from behavior and psychology
• How behavioral coaching can insulate your value from any future threat posed by technological advancement
• The technology Daniel is building that will allow you to take behavioral finance to a whole new level

To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here

Resources:

• “The Laws of Wealth” by Daniel Crosby
• “The Behavioral Investor” by Daniel Crosby
• Standard Devotions Podcast

Connect with Brendan Frazier: 

• RFG Advisory
• LinkedIn: Brendan Frazier
• X: @jbrendanfrazier

Connect with Guest: 

• LinkedIn: Daniel Crosby
• X: @danielcrosby

About our Guest: 

Educated at Brigham Young and Emory Universities, Dr. Daniel Crosby is a psychologist and behavioral finance expert who helps organizations understand the intersection of mind and markets. Dr. Crosby recently co-authored a New York Times Best-Selling book titled, Personal Benchmark: Integrating Behavioral Finance and Investment Management.

He also constructed the “Irrationality Index,” a sentiment measure that gauges greed and fear in the marketplace from month to month. His ideas have appeared in the Huffington Post and Risk Management Magazine, as well as his monthly columns for WealthManagement.com and Investment News. Daniel was named one of the “12 Thinkers to Watch” by Monster.com and a “Financial Blogger You Should Be Reading” by AARP. When he is not consulting around market psychology, Daniel enjoys independent films, fanatically following St. Louis Cardinals baseball, and spending time with his wife and two children.           

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Catherine Morgan is an award-winning financial planner and coach at The Money Panel and host of the In Her Financial Shoes podcast. 

In addition to working with clients on a daily basis, she also has a financial coaching training program, where she teaches financial professionals across the world how to seamlessly incorporate the core skills and principles of financial coaching into their practice.

We discuss:

• The Rapid-Fire 3-Pack of questions on behavioral finance that every guest answers
• How personal experiences shape your values, beliefs, emotions, and behaviors around money, including Catherine opening up to share her own powerful story
• Specific questions and strategies Catherine uses to guide clients through the process of uncovering their own experiences and the impact it had on their emotions, beliefs, and behaviors
• How Catherine crafts her messaging and designs her practice to have these conversations with clients and prospective clients given that no one ever says they want to explore their money beliefs
• The relationship-changing benefits of listening and Catherine’s tips on how to develop your listening skills

To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here

Resources:

• The Money Panel
• In Her Financial Shoes Podcast

Connect with Brendan Frazier: 

• RFG Advisory
• LinkedIn: Brendan Frazier
• X: @jbrendanfrazier

Connect with Guest: 

• LinkedIn: Catherine Morgan
• X: @themoneypanel

About our Guest: 

Catherine Morgan is here to create more safe spaces, justice, and financial equality for women. As a Financial Adviser, Coach, and expert in several money-healing modalities, her gift is to help you heal your relationship with money to deserve, create and grow more wealth.

Catherine is on a mission to help one million women become financially resilient, so that together they can create a world that’s full of safe, healthy, wealthy women who aren’t afraid to trust their intuition and follow their bliss.

When more women have more wealth, we can change the world!

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Neil Bage is highly renowned in the fields of financial services and behavioral science for his ability to bridge scientific theory with real-world understanding, particularly when it comes to human behavior in light of financial health and well-being.

He’s the co-founder of Be-IQ, a multi-award-winning behavioral insights company that focuses on providing research and tools on behavioral finance for financial advisors and planners around the world.

As he puts it, his mission is to bring “behavior to life” for financial advisors.

We discuss:

• The “achilles heel” of our industry (Hint: it’s not a lack of technical knowledge)
• Why the future of financial planning will have the human as the centerpiece
• The importance of getting clients or prospects into a calm, peaceful state prior to a meeting and specific ways to do it
• The story of an advisor who used the tools from Be-IQ to finally breakthrough to a client after 15 years
• The “Empathy Gap” – What it is and why you should be aware of it in every meeting
• What Neil calls the “transformational benefits” for advisors who bring behavior to life

To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here

Connect with Brendan Frazier: 

• RFG Advisory
• LinkedIn: Brendan Frazier
• X: @jbrendanfrazier

Connect with Guest: 

• Be-IQ
• X: @neilbage
• LinkedIn: Neil Bage

About our Guest: 

Neil is the Co-Founder of Shaping Wealth, a learning technology platform transforming the human experience of money. He has served as a Chief Behavioural Officer in the UK and was the CEO and Founder of a multi-award-winning behavioral insights business.

Neil has spent almost two decades researching human behavior as it relates to money, working closely with 6 Behavioural Science Professors across 4 Russell Group Universities. Over that time he has engaged with over 20,000 real people exploring multiple aspects of their behavior and relationship with money.

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Andy Hart is the founder of Maven Adviser, the host of the Maven Money podcast, and the founder of Humans Under Management, a behavioral finance conference with a focus on delivering better outcomes for clients. 

As someone who both runs a successful practice as a financial advisor and helps advisors better understand how to apply behavioral finance in their practice, Andy came highly recommended for his ability to provide specific and practical strategies he’s used with his clients for years to promote optimal behavior and deliver better outcomes.

We discuss:

• The dangers of using jargon and how to avoid it
• The many realizations Andy experienced that opened his eyes to the fact that he’s managing humans more than money
• How Andy has learned to communicate the value of behavioral coaching despite the fact that it’s rarely seen as a value-add from clients
• Specific framing and labeling tactics Andy uses with clients to prompt optimal behavior and deliver better outcomes
• What he would recommend any advisor or planner do in order to start mastering the human side of money and applying behavioral finance to their practice

To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here

Resources:

• Maven Money Podcast
• Humans Under Management

Connect with Brendan Frazier: 

• RFG Advisory
• LinkedIn: Brendan Frazier
• X: @jbrendanfrazier

Connect with Guest: 

• Maven Adviser
• LinkedIn: Andy Hart
• X: @MavenAdviser
• team@mavenadviser.com

About our Guest: 

Andy Hart started Mavin Adviser in 2017 to satisfy his passion for simplifying the complex. Andy loves nothing more than helping families make the right financial and life decisions. At its core this means telling it as it is, the whole unvarnished truth, and having a complete focus on what’s important. Andy tries to articulate that here, in ‘The Hidden Magic of Behavioural Financial Advice’. He immerses himself in the lives of clients to create a plan that will help them live a life free from financial worry and one that copes with life’s inevitable ups and downs.

In the same year, Andy established Humans Under Management, a behavioral financial advice brand. They’ve hosted conferences in Dublin, South Africa, and London. They’ve now adapted the conferences into a virtual format … available everywhere!

Andy’s hope with HUM is to promote, highlight, and build on the work that great advisers are doing in developing their behavioral financial advice practices. For Andy, this is like seeing color television, when the rest of the profession is still in black and white. This isn’t a fad or a phase; behavioral financial advice is here to stay.

Individually it’s hard to make an impact but by joining together we can.

Join Andy at his next Humans Under Management conference.

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As an expert in applied decision science and behavioral finance, Greg gives one example after another on how you can design your practice, your process, and your conversations for optimal behavior and better outcomes.

Greg Davies is the head of behavior at Oxford Risk, where he focuses on improving financial decision-making through the use of behavioral science, and is the co-author of the book Behavioral Investment Management. 

Greg works with advisors and planners around the world on how to apply behavioral finance in order to make optimal decisions in the face of complexity, uncertainty, and behavioral biases.

We discuss:

• The two types of financial plans: One for technical knowledge and one for governing behavior
• How the implementation of technology unlocks your ability to give better advice AND focus more on the human side of the relationship
• The importance of nailing the risk assessment with a focus on anxiety-adjusted returns instead of risk-adjusted returns
• The three components of risk assessment: Risk Tolerance, Risk Capacity, and Emotional Capacity and how to incorporate them all
• Where he thinks behavioral finance will be within the industry in 2030

To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here

Connect with Brendan Frazier: 

• RFG Advisory
• LinkedIn: Brendan Frazier
• X:@jbrendanfrazier

Connect with Greg Davies:

• LinkedIn: Greg Davies
• X: Greg Davies

About our Guest: 

Greg is a specialist in applied behavioral finance, decision science, sustainable investing, and financial well-being.

He founded the banking world’s first behavioral finance team at Barclays in 2006, which he led for a decade. In 2017 he joined Oxford Risk to lead the development of behavioral software to help people make the best possible financial decisions.

Greg holds a PhD in Behavioural Decision Theory from Cambridge; has held academic affiliations at UCL, LSE, Imperial, and Oxford; and is the author of Behavioral Investment Management.

Greg is Chair of Sound and Music, the UK’s national organization for new music; and creator of Open Outcry, a ‘reality opera’ that premiered in London in 2012, creating live performances from a functioning trading floor. He is also a frequent speaker and runs CPD-accredited Behavioural Wine Tasting events with Master of Wine John Downes: A unique interactive event combining decision science, live psychology experiment … and wine.

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In an industry where 99% of the training, certifications, designations, and conferences are geared towards the technical side of the relationship, high-quality, top-notch resources on applying behavioral finance in your practice are sparse.

In this episode, Brendan answers the most common question posed by advisors and planners when it comes to the human side of money: “How do I develop this skill set?” 

The answer lies in a 3-step process:

• Spark Innovation from Outside Perspectives: We need to look to experts in fields like behavior, psychology, communication, and more.
• Channel Outside Perspective Through Experience: We can learn from those outside of our industry, but ultimately, we need to have a community of other advisors and planners to collaborate with.
• Refine Through Practice: Like any skill, you’ll never get the results you want without practice.

To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here

Connect with Brendan Frazier: 

• RFG Advisory
• LinkedIn: Brendan Frazier
• X:@jbrendanfrazier

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The value and future of financial advice is currently facing a crossroads as it shifts towards blending technical advice with the ability to change behavior.

In this episode, Brendan tells the story of a client meeting he observed that helped shine a light on the forces causing this shift and why most advisors and advisory businesses simply aren’t equipped to evolve and take advantage.

We discuss:

• Why the future of advice will be more focused on guiding clients through the process and changing behavior for the better
• How heart bypass surgeries, entrepreneurs, obesity, and marriages teach us that providing information and advice will never be a sustainable value proposition
• How pairing technical expertise and the human side of money provides massive benefits to your clients and your business
• The immense gap that exists between the skill set advisors possess and the skill set they need to evolve with this shift in value towards the human side of money
• What advisors can learn from hostage negotiators and therapists in this quest for a new skill set

To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here

Connect with Brendan Frazier: 

• RFG Advisory
• LinkedIn: Brendan Frazier
• X:@jbrendanfrazier

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