The Human Side of Money

In this discussion, financial advisor Andy Baxley guides Brendan Frazier through an inspiring three-step approach to creating a personalized statement of financial purpose. They delve into the process of identifying core values and aligning them with actionable financial goals. The importance of intentionality in personal growth and family dynamics is emphasized, along with the transformative power of clarity in navigating life's choices. Listeners gain insights into setting specific objectives, fostering accountability, and reshaping their financial futures.

Join financial planner Andy Baxley, co-creator of the Statement of Financial Purpose course, as he dives into transforming the way advisors engage with clients. He discusses the three-step process for meaningful financial conversations that prioritize personal values over traditional goals. The conversation highlights building trust, finding financial purpose, and aligning decisions with core values. Through introspective questions and a structured framework, Baxley reveals how understanding what truly matters can lead to deeper connections and more fulfilling financial planning.

The growth of your business hinges on your ability to build and establish trust with prospective clients. In this episode, Kerry Johnson, “America’s Business Psychologist” reveals psychological insights on how to master the art of trust-based selling. You’ll Learn: Signs that a prospect is interested (or not!) The anatomy of an elevator speech that actually works Why prospects forget 90% of what you say within 3 days Why it’s crucial to “calibrate” at the beginning of every interaction with a client How to conduct a “trust check” to know if you can move the conversation forward 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. *For more resources discussed in this episode –> Go Here. *Follow Brendan for insights on mastering the human side of advice: Twitter LinkedIn

Love and money are two emotional subjects on their own. And one HIGHLY emotional subject when combined together. Next time you meet with a couple, think about these numbers: 70% have disagreed about their financial situation 73% say finances are a source of tension in their relationship 47% say this tension has impacted the intimacy with their partner Money is an emotionally-charged topic that you simply can’t avoid in a relationship. In this episode, Dr. Sonya Lutter provides a guide for everything advisors need to know when it comes to working with couples. You’ll Learn: Why most financial arguments boil down to a discrepancy in values Why uncovering money scripts can transform finances in the relationship The surprising connection between joint accounts and relationship satisfaction Why clients who work with a financial advisor are 3x happier than those who don’t Eye-opening research on the influence of financial arguments and relationship satisfaction 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. *For more resources discussed in this episode –> Go Here. *Follow Brendan for insights on mastering the human side of advice: Twitter LinkedIn

The intro meeting is the lifeblood of an advisory business. It’s either the single most expensive or the single most profitable activity that you’ll ever engage in. Yet, almost everything you’ve been taught about how to conduct these meetings is backwards. It contradicts everything psychology research tells us that a prospect needs. In this episode, we’ll look at five things you’ve never been taught but HAVE to know to conduct the ultimate intro meeting: Navigating The Trust Zone Inside The Prospect’s Mind The Two-Question Framework The Platinum Rule of Prospecting Prepping The Prospect For Success *The Ultimate Intro Meeting Course –> Go Here 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. *For more resources discussed in this episode –> Go Here *Follow Brendan for insights on mastering the human side of advice: Twitter LinkedIn

The combination of financial psychology and technology has a multiplier effect on client outcomes. Advisors who effectively integrate both into their practice see significantly higher levels of: Satisfaction Loyalty Referrals Trust But, before you get these outcomes, you have to know how to effectively combine the two. Fortunately, Emily Koochel pioneered this research and provides a roadmap for advisors to combine financial psychology with technology on the path to transforming their client outcomes. You’ll Learn: Using technology to create a “feel good” moment How to work with couples that have financial secrets Why 6 of 10 clients say their advice isn’t personalized The technology features that lead to higher client engagement The 5 financial psychology actions that create better client outcomes 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. *For more resources discussed in this episode –> Go Here. *To receive the monthly “Wisdom Round-Up” newsletter full of practical ways to apply the human side of advice –> Go Here. *Follow Brendan for insights on mastering the human side of advice: Twitter LinkedIn

More important than what questions you ask is how you ask them. In this episode, shares 8 proven ways to ask better questions that lead to better answers, conversations, and relationships. 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.= *To receive the monthly “Wisdom Round-Up” newsletter full of practical ways to apply the human side of advice –> Go Here. *Follow Brendan for insights on mastering the human side of advice: Twitter LinkedIn

Three important questions every advisor should answer: Do you think you provide a valuable and life-changing service? Do you think your clients are better off with you than without you, even after they pay? Do you find that even though they’re better off with you, they still need a little nudge to make the decision to work with you? If you answered yes to any of these questions, then here’s the harsh truth you need to hear: Getting prospects to become clients requires more than expertise. It requires persuasion. And if you can learn to persuade more effectively, then your life-changing impact will be greater and more widespread. In the popular book Influence: The Psychology of Persuasion, Robert Cialdini presents research on six psychological principles to persuade prospects to become buyers. Fortunately, Evan Beach took the research from the book and created a version specifically for financial advisors. In this episode, he’ll reveal how financial advisors can use influence techniques to persuade more prospects to become clients. You’ll Learn: The sales mindset every advisor should have How and why to implement a waitlist for prospects The psychological reason not to charge for financial plans The “freemium” model he uses for his prospecting process Why advisors are scared to embrace effective sales techniques 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. *For more resources discussed in this episode –> Go Here. *To receive the monthly “Wisdom Round-Up” newsletter full of practical ways to apply the human side of advice –> Go Here. *Follow Brendan for insights on mastering the human side of advice: Twitter LinkedIn

There is one skill that will impact your success and your client’s success more than anything else. The ability to listen. More specifically, the ability to listen with empathy and curiosity. In this episode, we’ll look at: The neuroscience and benefits of listening 3 ideas to instantly improve your listening skills An advisor testimonial on the power of listening 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. *For more resources discussed in this episode –> Go Here *To receive the monthly “Wisdom Round-Up” newsletter full of practical ways to apply the human side of advice –> Go Here. *Follow Brendan for insights on mastering the human side of advice: Twitter LinkedIn

Sarah Newcomb, Director of Behavioral Science at Morningstar, discusses understanding a client's money mindset. Topics include assessing money mindset, the link between financial and emotional well-being, predictors of savings behavior, using a 'What-If Journey', and the role of role models in behavior change.