3min chapter

Kitces and Carl - Real Talk for Real Financial Advisors cover image

Explaining The Full Value Of (Life) Planning By Unlocking The Emotional Job To Be Done: Kitces & Carl Ep 145

Kitces and Carl - Real Talk for Real Financial Advisors

CHAPTER

Intro

This chapter explores the intricate discussions financial advisors should engage in with their clients to highlight the value of their services. It emphasizes the importance of addressing both presented issues and deeper emotional needs while advocating for a proactive life planning approach.

00:00
Speaker 1
I do this super valuable, meaningful money conversation. I can work with some clients that are willing to pay a very meaningful fee because this is incredibly valuable. But if they don't know that's gonna be the value and I put my big old fee on the website that I charge, am I gonna scare them all away? One
Speaker 2
draws with a Sharpie. The other nerds out with spreadsheets, but both share a passion for helping real financial advisors get better. Join the industry's preeminent blogger, Michael Kitsis, and client communication expert Carl Richards, as they share their unique perspectives and advice on how to more effectively serve your clients, be more intentional when building your own business, and make sure you actually have a life in the process. Without further ado, here are your hosts, Kitsis and Karl. Michael Kitsis. Imagine meeting you
Speaker 1
here in our pre-scheduled Zoom room that we sent links around in advance. That was the weirdest, like how do you like start a pre-scheduled conversation?
Speaker 2
So good. So good. Well, I would be interested in your take on something. So I got this really great email from, I happen to know incredibly thoughtful young planner who went through one of the best programs, like just really, really good, thoughtful planner, who we'll just call, which may or may not be his name, we'll just call him Tanner. And Tanner talks about how he's working his way through the Kids of Zaccaro episodes. And he references a recent episode. Which one was it? I can't. Oh, number 141. 141. Give us a quick summary of 141. So
Speaker 1
that was a couple, that was recent. So that was the one where I think you would frame like, we have clients who come in, you wanna do meaningful money conversations with them, but no one actually literally comes in for meaningful conversation. They come in, I think you call it the presenting problem. I came in because my elbow hurts. Like I need, I want someone to do, to deal with that. And then you had kind of given this whole process of, okay, well you're a Mr. and Mrs. client. Like I'm, you know, I hear you, that's a real issue, but just to make sure we get the best answer, can we back up a bit? Like, tell me about why this is important to you. And then you start pivoting in the direction of I think is your frame like the righteous trick of I'm not gonna I'm not going to sell them on life planning, I'm just gonna start doing it and giving them meaningful conversations letting them see the value. And if they find that meaningful enough there, they'll they'll be engaged and I didn't even have to sell that. So
Speaker 2
like that,
Speaker 1
so that was that was that episode. So what what did you say? Where, what's our going name for this? So
Speaker 2
Tanner, okay.
Speaker 1
So why? So what did Tanner ask about this episode?

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