Elementality for Financial Advisors | Elements Financial Vitals System™

Money matters. It gives you freedom and control, provides a family security, and allows for more options in life. But, if you don’t understand its complexities, it can result in hardships that affect generations. On this Elementality, Carl and Justin Green discuss how helping clients alter their financial trajectory can change numerous lives.

Past money memories have a significant effect on client financial decisions and are a reason why money and anxiety are closely tied together. To be a more emphatic advisor, learn about your clients history with money.   On this Elementality, Carl talks with Chelsea Rude of Rude Wealth Advisory, about the long-lasting effects of the past on client decisions. 

Small RIAs who want to expand face significant challenges. Hiring brings with it HR concerns, and managing back office logistics becomes more time intensive—when your attention needs to focus on adding more clients. On this Elementality, Abby talks with Michelle Wong whose firm, Nifty Advisor Support, fills in growth gaps by providing numerous services.

Silence. You know, the awkward space where, before answering a question, a client ponders what was asked. That silence is your friend.On this Elementality, Carl and Elements client Brandon Galici, look into how to get clients to share their feelings about money, what role silence plays, and what transition questions result in deeper reflection.

Prospective clients come to you with a presenting problem, an issue causing them urgent financial pain. The questions you ask—and where they help lead the prospect—are pivotal to establishing a long-term relationship. On this Elementality, Carl and Elements client Phil Telpner of Breakout Private Wealth, discuss ideal questions for new prospects.

“What does money mean to you?” It’s a great question to ask as you help clients begin to express their values. But to get to the heart of what really matters to them about money takes more time and patience.  On this Elementality, Carl interviews Elements client Ryan Kilkenny of Atomic Planning, who explains how he gets clients to open up.

No one likes to budget, in fact, even using the word “budget” can emote negative reactions. Of all of the Elements, Burn Rate (Br) may be the least sexy. However, it’s foundational to all other financial elements. On this episode of Elementality, Reese tells the clients of his RIA how to manage their spending without having to pinch pennies. 

How people live, work, and spend continues to evolve. Today, a smooth job path is rare as careers now take many unpredictable turns. As a result, prospects have more questions and need more answers, more frequently. On this episode of Elementality, Reese and Carl explain why using planning tools that assume life is lived linearly no longer work.

When planning, we are used to doing everything all at once and all up front. The result is that the outputs of the work we do, and what we deliver to the client, are too complex and too focused on one event—retirement. On this episode of Elementality, Reese and Carl examine this output challenge and reveal quicker ways to involve prospects in planning.

The job we do as advisors is complex … and costly. We gather data, analyze it, and we make various decisions while working through the process. We then help clients act on our recommendations. And it takes a lot of time. On this episode of Elementality, Reese and Carl explain why this cost/complexity problem prevents us from reaching out to more people.