“Behavioral Coaching” continues to emerge as the primary source of value in a relationship between an advisor and client.

Yet, most advisors have never learned the skill set required to actually influence and change a client’s behavior for the better. It starts by first understanding the forces that influence client behavior both positively and negatively. To learn what works and what doesn’t.

Fortunately, Dr. Michael G. Thomas has done extensive research on two forces that often go overlooked: Financial empathy and data visualization. He’ll explain just how much power these two forces carry and how he uses them to influence client behavior for the better.

We discuss:

The “Zoom Out/Zoom In” approach he uses to identify emotional barriers
Why confidence and clarity are crucial for changing client behavior
The big mistake advisors make that demotivates clients
What Robinhood teaches us about the power of data visualization
His approach to budgets that avoids anxiety and overwhelm

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Resources:

The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals

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89: How Financial Empathy And Data Visualization Influence Client Behavior with Dr. Michael Thomas