The Human Side of Money

129: The Best Ideas and Insights from 2024

31 snips
Dec 31, 2024
Reflecting on 2024's transformative conversations, the focus is on enhancing client relationships through trust and effective communication. Discover the power of vulnerability and emotional intelligence in financial discussions. Techniques for engaging clients include inviting information and observing behavioral cues. Rediscovery meetings play a crucial role in forging deeper connections, while sharing personal 'why stories' fosters meaningful bonds. The aim is to connect clients' motivations with financial advice for a brighter future.
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ADVICE

Expect Non-Adherence

  • Reframe how you give advice by expecting clients to not follow through.
  • Consider your role in their non-adherence and find ways to improve follow-through.
INSIGHT

Trust Over Performance

  • Trust was found to be a stronger driver of asset flows than investment performance.
  • This highlights the importance of building trust in client relationships.
ADVICE

Vulnerability Builds Trust

  • Build trust with new clients by being vulnerable and sharing mildly embarrassing stories.
  • This encourages vulnerability and deeper connection.
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