For financial advisors and planners to do their job at the highest level requires the ability to do two things:

1. Uncover someone’s personal, intimate financial details
2. Unearth someone’s values, emotions, hopes, dreams and fears about their money and their life

Most people don’t talk about one of those things with any one else in their life.

And almost NO ONE talks about both with the same person without being under the influence of something!

That’s why the best financial advisors and are masters at knowing how to ask the “right” questions that elicit trust and create rapport while uncovering the financial and personal information they need to formulate the best financial planning recommendations.

Dr. Meghaan Lurtz joined the show to explain the keys to unlocking the superpower of questions with prospects and clients.

We discuss:

• A question to ask prospective clients that reveals exactly what they want from an advisor
• How questions help clarify your value to prospects and clients
• Why questions are the most effective way to instill trust
• All of the under-the-radar benefits of questions in the client relationship

And way more!

*For more resources discussed in this episode, check out www.wiredplanning.com/episode49

*For more resources and insights on mastering the human side of money (including our popular “Wisdom Round-Up” email), go to www.wiredplanning.com.

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*This is Part II of a two-part conversation. It’s a continuation of Episode 47. I would highly recommend listening to that episode before diving into this one!*

When Bill Bachrach started his career as a financial advisor, he was in his mid-20’s trying to convince wealthy people in their 50’s, 60’s, and 70’s to leave their current advisor and entrust him with their life savings.

He knew he needed to do something different that would stand out and inspire his prospective clients.

So, he spent countless hours refining and developing a process that eventually became known as “values-based financial planning.”

For the last 34 years, he’s been teaching advisors around the world this exact process to help them attract and acquire their ideal clients.

In this episode, we discuss:

• Facilitating a conversation where clients willingly open up and tell you about their deepest held values
• How to effectively transition from values to goals to money
• The “Values Staircase” – a process to uncover and clarify what’s truly most important
• The key distinction between building trust and building rapport
• How the way you handle documents can secretly influence your credibiity and trust

And way more!

*For more resources discussed in this episode, check out www.wiredplanning.com/episode48

*For more resources and insights on mastering the human side of money (including our popular “Wisdom Round-Up” email), go to www.wiredplanning.com.

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When Bill Bachrach started his career as a financial advisor, he was in his mid-20’s trying to convince wealthy people in their 50’s, 60’s, and 70’s to leave their current advisor and entrust him with their life savings.

He knew he needed to do something different that would stand out and inspire his prospective clients.

So, he spent countless hours refining and developing a process that eventually became known as “values-based financial planning.”

For the last 34 years, he’s been teaching advisors around the world this exact process to help them attract and acquire their ideal clients.

In this episode, we discuss:

• The #1 mistake almost every advisor makes right out of the gate in prospect meetings
• The three ideal outcomes produced consistently from a values-based planning process
• The importance of cultivating a leadership dynamic with clients
• Effectively communicating your services in alignment with the client’s most urgent needs and deepest values
• The three questions you MUST answer to convince wealthy clients to meet with you

And way more!

*For more resources discussed in this episode, check out www.wiredplanning.com/episode47

*For more resources and insights on mastering the human side of money (including our popular “Wisdom Round-Up” email), go to www.wiredplanning.com.

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In an industry that praises the relentless pursuit of growth, Jeremy Walter chose to pursue “enough.”

He chose to optimize for satisfaction rather than revenue.

But, as Jeremy learned, even crafting a business with intention has its own set of challenges when you’ve been preached “grow, grow, grow” your whole career.

Jeremy shares his journey to building his current advisory business, his process for having “off the balance sheet” conversations with clients, and how he uses his one-page financial plan.

In this episode, we discuss:

• How Jeremy defined “enough” for himself and his family
• How he handles the mental challenges of being content in a growth-oriented industry
• Why a “Discovery Meeting Recap” email has been so powerful
• “Generosity Philosophy” – Jeremy’s favorite method to deepen the conversation and focus on values
• What his values-based one-page financial plan looks like

And way more!

*For more resources discussed in this episode, check out www.wiredplanning.com/episode46

*For more resources and insights on mastering the human side of money (including our popular “Wisdom Round-Up” email), go to www.wiredplanning.com.

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The best conversations with clients and prospective clients have two things in common:

1) They create trust and connection that allows the person to open up and share information with you that they’ve likely never shared before

2) They unearth valuable information and stories about the person that provides insights to help them align their money with the life they want to live.

Ultimately, they place the life of the client at the center of the conversation. 

In this episode, Mitch Anthony shares how advisors can design a discovery process that does just that by learning how to use stories and analogies, asking great questions, and focusing on transitions over goals.

We discuss:

• The best way to motivate someone to save more money
• A communication skill used by the best communicators of all time
• His favorite question to get someone to open up and make a connection
• The “EAR” method for asking questions that elicit the best responses
• Why transitions are more important than goals in the financial planning process

And way more!

*For more resources discussed in this episode, check out www.wiredplanning.com/episode45.

*For more resources and insights on mastering the human side of money (including our popular “Wisdom Round-Up” email), go to www.wiredplanning.com.

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How many times have you created a goal and vision for your advisory business only to fall short?

You came up with the plan to make it happen, but you miss your growth goals while still working too many hours to fully enjoy your life outside of the business.

That’s because most people focus first on the plan (the strategy and tactics) instead of their mindset.

Stephanie Bogan works with advisors to master their mindset, think differently about what’s even possible and accelerate your business to a whole new level while working less hours to do it.

*Note: This is Part II of our two-part conversation. It’s a continuation of Episode 43, so I would strongly encourage listening to that first if you haven’t already.

We discuss:

• The importance of a crystal clear vision for your business and your life
• Three questions to identify and overcome your limiting beliefs
• How to hear “No” from propsective clients and feel good about it
• “Three Strike Rule” – a follow-up process to create urgency and avoid chasing prospects
• The power of the phrase “Would it be okay if…”

And way more!

*For more resources discussed in this episode, check out www.wiredplanning.com/episode44

*For more resources and insights on mastering the human side of money (including our popular “Wisdom Round-Up” email), go to www.wiredplanning.com.

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How many times have you created a goal and vision for your advisory business only to fall short? You came up with the plan to make it happen, but you miss your growth goals while still working too many hours to fully enjoy your life outside of the business.

That’s because most people focus first on the plan (the strategy and tactics) instead of their mindset.

Stephanie Bogan works with advisors to master their mindset, think differently about what’s even possible and accelerate your business to a whole new level while working less hours to do it.

We discuss:

• Why 80% of success is based on mindset
• The most common mindset traps advisors fall into (Ex: agreeing to reduce fees)
• The three tenets of a great client and how to make sure you aren’t wasting your time chasing prospective clients
• “Conversations of Integrity” – giving clients the clarity they need rather than the advice you think they need

And more!

*For more resources discussed in this episode, check out www.wiredplanning.com/episode43

*For more resources and insights on mastering the human side of money (including our popular “Wisdom Round-Up” email), go to www.wiredplanning.com.

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Meetings are the single most important component of your entire business.

Whether it’s a client or a prospective client, it’s the meetings where things actually happen.

Meetings are where prospects become clients (or don’t).

For current clients, meetings are the foundation of the client experience, they are primarily where you deliver your value, and they are where you set the stage for the client to take action on your advice.

By taking your meetings to the next level, you’ll convert more prospective clients into life-long clients, deliver a better (more referable) client experience and enhance your client’s outcomes.

Dan Smaida, a “Meeting Execution Specialist”, has consulted with over 10,000 advisors on how to use behavioral science and a consultative process to create more persuasive and engaging meetings.

In this episode, we discuss:

• The most common mistake Dan sees in a discovery meeting and the ideal way to start
• How to listen better in online meetings
• The 3 questions every prospective client wants answered and how to answer them for max effect
• An effective way to control someone’s attention during a meeting when trying to make a point
• The “Digital Yellow Pad” approach that improves connection and follow-through

*For more resources discussed in this episode, check out www.wiredplanning.com/episode42

*For more resources and insights on mastering the human side of money (including our popular “Wisdom Round-Up” email), go to www.wiredplanning.com.

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Ever wondered why your clients and prospective clients have failed to take action on your advice despite the fact you’ve shown them exactly how to accomplish their financial goals?

This episode is all about developing the skills and techniques to deliver advice that clients actually follow through on.

Financial coaching “works to narrow the gap between what people know and what they do; it illuminates through thoughtful questioning what gets in the way of meeting life goals.”

Saundra Davis has developed a program where she teaches advisors from around the world the key skills and techniques of financial coaching to improve communication, connection, and follow-through.

In this episode, we discuss:

• How financial coaching differs from and complements financial planning
• The financial coaching skills that enhance the discovery process with clients
• Handling the conversation with a client who isn’t following through on the plan
• The most effective ways to identify the barriers preventing action
• A better way to ask questions

 

*For more resources discussed in this episode, check out www.wiredplanning.com/episode41.

*For more resources and insights on mastering the human side of money (including our popular “Wisdom Round-Up” email), go to www.wiredplanning.com.

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With the future of our profession continuing to shift towards the human side of advice and the CFP Board’s announcement earlier this year that they added “The Psychology of Financial Planning” as a principal knowledge topic, it’s becoming crucial for advisors to start familiarizing themselves with this aspect of the business.

At the same time, it’s too much to think that advisors and planners are all going to become experts in financial therapy, financial coaching, life planning, etc. on top of all the work that already comes with the job.

A couple weeks ago, the FPA of San Francisco hosted a panel discussion on the application of psychology in financial planning.

Brendan moderated a panel that included Amy Mullen, Meghaan Lurtz, and Lexi Olian.

They covered:

• An overview of the main pillars of psychology in financial planning
• The differences between each pillar
• A few practical ideas from each pillar that advisors can apply to their practice and conversations

For more information, insights and practical ideas, visit www.wiredplanning.com.

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