Your client’s decisions are almost always subconsciously driven by invisible influences. Should I wear a suit? Should CNBC be on in the lobby? Does the way I’m presenting the info influence the client’s decision? Should I offer free financial planning in the beginning or charge for it? Whether these things should influence a client’s decision-making …
The job of a financial advisor and planner isn’t simply to dispense the advice, pat yourself on the back, and walk away as if your job is done. It’s to help the client follow through on your advice. Ensuring they implement and execute the items you’ve laid out that solve their problems and achieve their …
Money and happiness will forever be intertwined, specifically the relationship between the two. While money may not be able to buy happiness, it can certainly influence it. When you’re working with people and their money, you have the opportunity to help them use their money in a way that accumulates happiness rather than just simply …
Money decisions are never just about money. Research tells us that about 90% of all financial decisions are made emotionally, not logically. Decisions driven by our mind rather than our money. And every financial behavior, even if it appears illogical, makes perfect sense once you understand the underlying beliefs, feelings, and thoughts that accompanied the …
Whether you’ve been an advisor for four days or four decades, you know that your client’s success has just as much to do with their mind as their money. It’s simply not enough to run through Monte Carlo simulations and construct diversified portfolios. And you know it’s critical for you to be able to understand …
Trust is the foundation of success in financial advice. Research has found that trust is the #1 characteristic clients look for in a financial advisor. But how can you quickly instill trust into the conversation with a prospective client? How can you consistently build trust throughout your relationship with a current client so they refer …
Every single advisor and planner recognizes the importance of the human side when working with people and their money. And every single advisor and planner wants practical, tangible ways to embed it in their practice. After exploring the human side of money with 50 of the brightest minds on behavior, psychology, communication, and money, I …
Most financial advisors do a great job focusing on WHAT clients want to achieve (Goals) and HOW to achieve it (Financial Planning). But the best advice focuses first and foremost on WHY. It focuses on the client’s values, purpose, intentions (what’s truly most important in their lives). And everything flows from there. A financial plan …
What’s the point of tripling your net worth if you still dread getting out of bed every morning? That’s why financial advice at the highest level focuses on more than the accumulation of money. It focuses on the alignment of money with what’s most important in the client’s life. It’s what Dr. Preston Cherry calls …
It’s the most storied rivalry in finance. The current self versus the future self. The very nature of financial planning work with clients is heavily focused on the future. Yet, the current self often calls the shots when it comes to financial decisions. In a profession so heavily focused on the future, the key to …