121: A Playbook To Master The Human Side of Advice with Michael Kitces
The Human Side of Money
Intro
This chapter delves into the misalignment between clients' financial goals and their deeper aspirations, highlighting the importance of empathy in financial advising. It explores the blend of technical proficiency and emotional intelligence that advisors must possess to provide effective, personalized guidance.
When you want to learn something about financial planning and advice, the ultimate source is Michael Kitces.
Most people know Michael is a spreadsheet-loving, technical wizard.
What most people don’t know is that he also fully believes in the human side.
In this episode, Michael explains the skills and processes advisors need to know on the path to mastering the human side of advice.
You’ll Learn:
- What Michael says is the #1 skill for financial advisors
- The drawbacks to marketing the human side to prospects
- Why you can’t believe clients when they tell you their goals
- Why Michael only wears blue shirts (and how many he owns)
- The method Michael uses to uncover what clients really value
- Why the 3-year mark changes everything for an advisory business
And more!
*To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here
Resources:
- 49: Leveraging the Superpower of Questions to Create Connection and Clarity With Dr. Meghaan Lurtz (Part I)
- 50: Leveraging the Superpower of Questions to Create Connection and Clarity With Dr. Meghaan Lurtz (Part II)
- 112: Using “Influence” Techniques to Persuade Prospects to Become Clients With Evan Beach
- Financial Advisor Success Podcast
- Kitces & Carl Podcast
Connect with Brendan Frazier:
Connect with Michael Kitces:
About Our Guest:
Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, is the Head of Planning Strategy for Buckingham Wealth Partners, a private wealth management firm located in St Louis, Missouri, that oversees approximately $50 billion of client assets. In addition, he is the co-founder of the XY Planning Network, AdvicePay, fpPathfinder, and New Planner Recruiting, former practitioner editor of the Journal of Financial Planning, and the publisher of the e-newsletter The Kitces Report and the popular financial planning industry blog Nerd’s Eye View through his website www.Kitces.com, dedicated to advancing knowledge in financial planning.
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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.
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