Tag: Financial Anxiety

144: How To Stay Connected (And Deepen Trust) Between Client Meetings With Dr. Megan McCoy

144: How To Stay Connected (And Deepen Trust) Between Client Meetings With Dr. Megan McCoy

What if the most important trust-building moments with clients aren’t during meetings, but actually in between them?

It turns out that your communication between meetings ( texts, emails, calls, etc.) can significantly impact trust, satisfaction, and client retention.

In this conversation, Dr. Megan McCoy shares her breakthrough research on the power of between-meeting communication and how Advisors can create a “web of support” plan to help improve trust, satisfaction and client retention.

You’ll Learn:

  • Ways to personalize communication at scale
  • A framework for “between meeting” communication
  • How to balance task-based and relationship-based outreach
  • Signs your client has financial anxiety (even when they say they’re “fine”)
  • Why you need the right message delivered through the right medium

*To sign up for Brendan’s newsletter packed with resources to master the human side of advice → Click Here

*To get the “Affiliation Guide” outlining a business model designed to help build your business ->Click Here

Resources:

Connect with Brendan Frazier: 

Connect with Dr. Megan McCoy: 

About Our Guest: 

Megan McCoy, Ph.D., LMFT, AFC®, CFT-I™, is an Assistant Professor at Kansas State University’s Department of Personal Financial Planning. She teaches courses at the undergraduate, graduate, and doctoral levels focused on financial well-being, financial therapy, and couple dynamics regarding finances.

Dr. McCoy holds a B.A. in Psychology from The University of North Carolina and an M.A. in Marriage and Family Therapy from Drexel University. Dr. McCoy also attended the University of Georgia, where she earned a Ph.D. in Human Development and Family Science with an emphasis in Marriage and Family Therapy. She is a licensed Marriage and Family Therapist, an Accredited Financial Counselor®, and a Certified Financial Therapist-I™.

During her doctoral program, she developed a specialization in financial therapy and client psychology. She had the opportunity to work with clients alongside financial planning students to treat clients’ financial well-being together. Observing and learning from financial planners’ work with clients enabled Dr. McCoy to gain more insights into the psychology of financial planning.

She serves on the Financial Therapy Association’s Board of Directors and was the past Associate editor of the Journal of Financial Therapy. She is currently co-editor for the Financial Planning Review. She was also a guest editor on a special issue on finances for Contemporary Family Therapy.

Dr. McCoy’s research interests focus on financial therapy, financial well-being, and financial communication, as well as diversity, equity, and inclusion issues. She has published over forty articles in top-tier mental health, family science, financial counseling, and financial planning journals. This year, her research has won awards from the National Council of Family Relations and the Financial Therapy Association. Dr. McCoy has been awarded grants from the Financial Planning Association, the National Endowment for Financial Education, and FP Canada to continue research on how to integrate client psychology topics into financial planning to foster trust and commitment with clients.

Dr. McCoy has also been featured as a financial well-being expert on the Today Show, NPR, BBC, the Wall Street Journal, and many other media outlets.

Content here is for illustrative purposes and general information only. It is not legal, tax, or individualized financial advice; nor is it a recommendation to buy, sell, or hold any specific security, or engage in any specific trading strategy.

Information here may be provided, in part, by third-party sources. These sources are generally deemed to be reliable; however, neither our guest nor RFG Advisory guarantee the accuracy of third-party sources.

The views expressed here are those of our guest. They do not necessarily represent those of RFG Advisory, its employees, or its clients. This commentary should not be regarded as a description of advisory services provided by RFG Advisory, or performance returns of any client. The views reflected in the commentary are subject to change at any time without notice.

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, LLC (“RFG Advisory or “RFG”), a registered investment advisor. Private Client Services and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

RFG Advisory is an SEC-registered investment adviser. SEC registration does not constitute an endorsement of RFG by the Commission, nor does it indicate that RFG or any associated investment advisory representative has attained a particular level of skill or ability.

125: Building A Screening Process To Identify Perfect-Fit Prospects Ready To Act with Dr. Meghaan Lurtz

125: Building A Screening Process To Identify Perfect-Fit Prospects Ready To Act with Dr. Meghaan Lurtz

Here’s a question for you:

On a scale of 1-10, how confident are you that your screening process will yield conversations with prospects who are a good fit AND ready to take action?

If you answered anything less than an 8, you’re in good company.

Most advisors spend way too much time meeting with prospects only to find out they aren’t a good fit.

Fortunately, Meghaan Lurtz has researched and written about this process. In this episode, she reveals the steps to build a screening process that brings in prospects who are the right fit and ready to take action. (While also changing the trajectory of trust for the entire relationship!)

What You’ll Learn:

  • The best questions to ask in a screening process
  • Why 80% of prospects aren’t ready for your advice
  • What’s going on in the prospect’s mind before your meeting
  • How long do prospects wait before actually contacting an advisor
  • A question you should ask all prospects (but almost no one does)

*To sign up for Brendan’s newsletter packed with resources to master the human side of advice → Click Here

Resources:

Connect with Brendan Frazier: 

Connect with Dr. Meghaan Lurtz: 

About Our Guest: 

Dr. Meghaan Lurtz is a leading global expert on the psychology of financial planning and a Partner at Shaping Wealth. A dedicated educator, she is a Professor of Practice at Kansas State University, teaching in the Advanced Financial Planning and Financial Therapy Certificate Programs. She is also a lecturer at Columbia University, where she teaches Financial Psychology. She serves on multiple financial technology boards, bringing together finances and mental health. She is an active researcher, writer, and ongoing contributor to the Kitces platform, writing about the intersection of money, advice, and well-being.

Meghaan has finished her Ph.D. in Personal Financial Planning at Kansas State University. Meghaan is a past President of the Financial Therapy Association.

Content here is for illustrative purposes and general information only. It is not legal, tax, or individualized financial advice; nor is it a recommendation to buy, sell, or hold any specific security, or engage in any specific trading strategy.

Information here may be provided, in part, by third-party sources. These sources are generally deemed to be reliable; however, neither our guest nor RFG Advisory guarantee the accuracy of third-party sources.

The views expressed here are those of our guest. They do not necessarily represent those of RFG Advisory, its employees, or its clients. This commentary should not be regarded as a description of advisory services provided by RFG Advisory, or performance returns of any client. The views reflected in the commentary are subject to change at any time without notice.

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, LLC (“RFG Advisory or “RFG”), a registered investment advisor. Private Client Services and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

RFG Advisory is an SEC-registered investment adviser. SEC registration does not constitute an endorsement of RFG by the Commission, nor does it indicate that RFG or any associated investment advisory representative has attained a particular level of skill or ability.