The Human Side of Money 58: The Advisor’s Guide To Money And Behavior with Dr. Brad Klontz
Aug 31, 2022
01:39:12
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 your client’s psychology and behaviors around money.
But, the challenge lies in knowing how to apply psychology to real-life client scenarios.
Fortunately, Dr. Brad Klontz is one of the foremost authorities on financial psychology and works with advisors and planners to do just that.
We discuss:
- How our genetics have programmed us to fail with money
- The importance of knowing your client’s “Money Scripts”
- The way he communicates the role of financial psychology to clients and prospects
- Why he lets clients decide if they want financial psychology
- The one technique every advisor needs to change client behavior
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Resources:
- The featured partner for this episode is Knudge, an automated system to help clients follow through on their tasks and reach their financial goals
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