“Behavioral Coaching” continues to emerge as the primary source of value in a relationship between an advisor and client.

Yet, most advisors have never learned the skill set required to actually influence and change a client’s behavior for the better.

It starts by first understanding the forces that influence client behavior both positively and negatively. To learn what works and what doesn’t.

(Quick note: Telling someone what to do DOESN’T work!)

Fortunately, Dr. Michael G. Thomas has done extensive research on two forces that often go overlooked:

1) Financial Empathy

2) Data Visualization

He’ll explain just how much power these two forces carry and how he uses them to influence client behavior for the better.

In this episode, we discuss:

• The “Zoom Out/Zoom In” approach he uses to identify emotional barriers
• Why confidence and clarity are crucial for changing client behavior
• The big mistake advisors make that demotivates clients
• What Robinhood teaches us about the power of data visualization
• His approach to budgets that avoids anxiety and overwhelm

 

The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals.

*For more resources discussed in this episode -> Go Here.

*For more resources and insights on mastering the human side of advice, go to www.wiredplanning.com.

*Follow Brendan for insights on mastering the human side of advice:

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There’s one communication technique in the skill set of FBI hostage negotiators that stands above the rest.

One they describe as being the closest you’ll get to a jedi mind trick.

It’s called “mirroring”.

And, here’s what it does in conversation:

• Facilitates bonding and trust
• Creates connection and empathy
• Buys you time to regroup your thoughts
• Gets someone to open up (and keeps them talking)

So, how can you use this in conversations with prospects and clients?

In this episode, we’ll look at:

• The biological and psychogical reasons that mirroring is so powerful
• Why servers who mirrored customer’s orders got higher tips
• Two ways to starting mirroring words with prospects and clients

The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals.

*For more resources discussed in this episode –> Check out the show notes

*For more resources and insights on mastering the human side of advice, go to www.wiredplanning.com.

*Follow Brendan for insights on mastering the human side of advice:

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The financial advice industry does an outstanding job of training and developing technical knowledge.

The industry is full of advisors and planners who can sit down at a computer and calculate the time value of money with the best of them.

But, financial planning done right isn’t just about technical answers.

It’s about how those answers intersect with the person’s life.

Doing that requires knowing how to incorporate the human element.

And, no one knows how to do that better than Hannah Moore.

In this episode, Hannah gives us a look at how she incorporates the human element into her planning process so that the technical knowledge aligns with the client’s life.

In this episode, we discuss:

• How (and why) she changed her approach to the prospect process
• How to respond when a client says “Tell me what to do!”
• The power of the values exercises she takes clients through
• The “Budgeting Blocks” exercise to align values and spending
• Why she believes the industry is training the human out of the professional

 

The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals.

*For more resources discussed in this episode, check out Episode 87.

*For more resources and insights on mastering the human side of advice, go to www.wiredplanning.com.

*Follow Brendan for insights on mastering the human side of advice:

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The intro meeting is the lifeblood of an advisory business.

That 30-60 minute window with a complete stranger is either the most expensive or the most profitable activity you’ll ever engage in.

Yet, I kept hearing advisors complain about these meetings. They would say things like:

-“I never like the way I feel during those meetings.”

-“There has to be a better way.”

-“What I’ve been taught doesn’t work the way I thought it would.”

Since this show began, we’ve had some of the industry’s top experts join us to talk about meeting with prospects, intro meetings, communication strategies, etc.

So, I went back and listened to those conversations and compiled the best clips into this episode.

It’s a collection of the best insights and wisdom over the last three years of this show to help you conduct the ultimate intro meeting.

Click here to check out “The Ultimate Intro Meeting.”

The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals.

*For more resources discussed in this episode, check out www.wiredplanning.com/episode86.

*For more resources and insights on mastering the human side of advice, go to www.wiredplanning.com.

*Follow Brendan for insights on mastering the human side of advice:

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Morningstar research reveals a direct link between savings behavior and mental time horizon.

In fact, the research says mental time horizon is more influential than their age, income, and education.

Thus, the more vivid and clear your future, the more likely you are to change your behavior.

So, when you’re working with clients and planning for their future selves, you have to take their future goals from the clouds to the street. From vague to vivid.

Once you help your clients do that, you’ve created motivation, improved their behavior, and enhanced their lives for the better.

In this episode, we’ll share:

• The research detailing the benefits of creating a clear and vivid image of the future
• What a vague goal sounds like compared to a vivid vision
• Ideas for how to turn vague goals into vivid visions
• The story of an advisor who made a lasting impact on his clients’ lives

 

The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals.

*For more resources discussed in this episode, check out www.wiredplanning.com/episode85.

*For more resources and insights on mastering the human side of advice, go to www.wiredplanning.com.

*Follow Brendan for insights on mastering the human side of advice:

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When financial advisors meet with clients, it’s easy to focus solely on the numbers and neglect the feelings they elicit.

It’s easy to focus on dollars at the expense of emotions.

But every single client you work with has a relationship with money that extends beyond data, numbers and dollar signs.

It’s easy to overlook these things when talking about money.

But, it becomes evident when you’re dealing with the retiree who simply won’t spend their money despite having more than they could ever need.

Or the client who simply can’t follow your advice no matter how many times you’ve shown them exactly what to do.

Or the couple who can never seem to get on the same page with their finances after years and years of trying to help them.

They need help blending the financial and emotional components of money.

But most of the work on how to do this resides in the field of financial therapy.

Fortunately, Bari Tessler is a highly-regarded financial therapist.

And, she’s developed a three-step framework to help clients transform their relationship with money.

In this episode, we discuss:

• How to better approach your finances using a “Money Date”
• What she learned from hyperventilating at the car dealership
• 3 Levels of “Money Maps” that she uses instead of budgeting
• The power of renaming cash flow categories in alignment with values
• How understanding your body improves your relationship with money

 

The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals.

*For more resources discussed in this episode, check out www.wiredplanning.com/episode84.

*For more resources and insights on mastering the human side of advice, go to www.wiredplanning.com.

*Follow Brendan for insights on mastering the human side of advice:

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Asking great questions is a superpower for financial advisors.

When done right, asking great questions:

-Establishes likeability

-Accelerates trust

-Uncovers personal, sensitive information

Three things that are absolutely critical to perform your job at the highest level.

But, it’s not just about asking more questions.

It’s about knowing how to ask great questions that get great answers.

It’s about knowing the techniques that enhance your questions and elevate your conversations with both clients and prospects.

In this episode, we’ll reveal:

• The research that confirms the power of questions
• The “3E” questions for creating conversational flow
• Using follow-up questions to open the floodgates of the conversation
• How to structure your questions to receive better responses

 

The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals.

*For more resources discussed in this episode, check out www.wiredplanning.com/episode83.

*For more resources and insights on mastering the human side of advice, go to www.wiredplanning.com.

*Follow Brendan for insights on mastering the human side of advice:

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In 2005, Josh Gilliam set out to research, read, and learn everything he could about behavioral finance, psychology, and communication. 

He was seeking to master the human side of advice.

But, what he found was exactly what most advisors find along this journey:

• Asking someone about their values and purpose in life can be awkward
• There’s no textbook on getting a stranger to open up about personal issues
• He had some great conversations but couldn’t make it happen in every meeting
• The questions he heard other advisors ask their clients didn’t land the way he envisioned

18 years later, he admits it’s still a work in progress.

But, he took what he learned and created the [Fi] Life Framework.

A framework he uses to facilitate better conversations and connections with clients and prospects.

A process he can use to create a consistently remarkable human experience throughout his practice.

In this episode, we discuss:

• The [Fi] Self Profile: A tool for learning more about a client’s financial beliefs and history
• How helping a client learn about their past created a relationship-altering conversation
• The [Fi] Life Big Decision App: A tool to guide clients toward making better decisions
• Why the human side of advice will provide a natural boost to client testimonials
• Why it’s important to have clients document their decision-making processes

 

The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals.

*For more resources discussed in this episode, check out www.wiredplanning.com/episode82.

*For more resources and insights on mastering the human side of advice, go to www.wiredplanning.com.

*Follow Brendan for insights on mastering the human side of advice:

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In 2005, Josh Gilliam set out to research, read, and learn everything he could about behavioral finance, psychology, and communication. 

He was seeking to master the human side of advice.

But, what he found was exactly what most advisors find along this journey:

• Asking someone about their values and purpose in life can be awkward
• There’s no textbook on getting a stranger to open up about personal issues
• He had some great conversations but couldn’t make it happen in every meeting
• The questions he heard other advisors ask their clients didn’t land the way he envisioned

18 years later, he admits it’s still a work in progress.

But, he took what he learned and created the [Fi] Life Framework.

A framework he uses to facilitate better conversations and connections with clients and prospects.

A process he can use to create a consistently remarkable human experience throughout his practice.

In this episode, we discuss:

• The #1 risk in not adopting the human side
• The tool he uses to help clients visualize goals, transitions and milestones
• Why Josh found himself unfulfilled at the moment most advisors dream about
• Why he starts conversations around how someone feels rather than what they have
• The story of how life planning cost him a $10 million client (and why it didn’t faze him)

 

The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals.

*For more resources discussed in this episode, check out www.wiredplanning.com/episode81.

*For more resources and insights on mastering the human side of advice, go to www.wiredplanning.com.

*Follow Brendan for insights on mastering the human side of advice:

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If you work with people and their money to fund something now or in the future, it’s absolutely crucial that you understand the dynamic between goals and values.

Once you can move beyond goals and understand what’s truly important to the person you’re meeting with, everything changes.

In fact, once you embrace and internalize this dynamic, research shows it creates emotionally-connected clients that:

• Pay More
• Refer More
• Follow-Through
• Consolidate Assets

And, the best way to start embracing the dynamic between goals and values is to understand the golden circle of financial advice.

In this episode, I’ll break down what the research says about emotionally-connected clients and use the golden circle as a method for understanding how to talk with clients and prospects about what’s truly important to them.

 

The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals.

*For more resources discussed in this episode, check out www.wiredplanning.com/episode80.

*For more resources and insights on mastering the human side of advice, go to www.wiredplanning.com.

*Follow Brendan for insights on mastering the human side of advice:

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LinkedIn

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