39: A Masterclass In Excelling At The Human Side Of Advice with Carl Richards

Carl Richards has a mantra for financial advisors that he says changes everything once you can fully internalize it:

“Financial advisors are guides in a changing landscape. Not the defenders of an outdated map.”

It’s no longer enough for advisors to build a detailed financial plan or construct a portfolio.

It’s about building trust and connection with clients, unearthing their values and emotions around money, and changing their behavior for the better. It’s about the human side of advice.

We discuss:

• The two main things he’s learned over the years that he would go back and tell himself when he was an advisor
• Why understanding a client’s purpose is at the foundation of the work advisors do for their client’s
• The difference between purpose, values, and goals and what it looks like in the planning process
• How to effectively help clients develop and prioritize goals
• Using a “Statement of Financial Purpose” in the planning process

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