The greatest barrier for every client isn't lack of information.
It's their own mindset and behavior.
Whether it's someone who over-spends, someone who under-spends, someone who wants to sell out at the worst possible time, or even the person who never sends in the data you need...
The key to changing their behavior starts with understanding their money mindset.
Sarah Newcomb, Director of Behavioral Science at Morningstar, joined the show to discuss how to better understand a client's money mindset.
We discuss:
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:
56: 10 Insights To Master The Human Side of Advice
55: Infusing Life Into The Financial Planning Process with Tim Maurer
54: Helping Clients Achieve Life Money Balance with Dr. Preston Cherry
53: The Psychology of Decision-Making in Financial Planning with Hal Hershfield
52: Developing Emotional Intelligence (EQ) To Transform Relationships With Clients And Prospects with Beverly Flaxington
51: The Financial Therapy Skills & Techniques Every Financial Advisor Needs with Dr. Kristy Archuleta
50: Leveraging The Superpower Of Questions To Create Connection And Clarity with Dr. Meghaan Lurtz (Part II)
49: Leveraging The Superpower Of Questions To Create Connection And Clarity with Dr. Meghaan Lurtz (Part I)
48: Crafting A Values-Driven Process To Attract and Acquire Ideal Clients with Bill Bachrach (Part II)
47: Crafting A Values-Driven Process To Attract and Acquire Ideal Clients with Bill Bachrach (Part I)
46: Defining "Enough" And "Off The Balance Sheet" Conversations with Jeremy Walter
45: Designing A Discovery Process To Maximize Return On Life with Mitch Anthony
44: Pursuing Limitless Growth By Focusing On Mindset Over Methods with Stephanie Bogan (Part II)
43: Pursuing Limitless Growth By Focusing On Mindset Over Methods with Stephanie Bogan (Part I)
42: Behavioral Insights For More Persuasive And Engaging Meetings with Dan Smaida
41: How Financial Coaching Skills Enhance Communication, Connection, and Follow-Through with Saundra Davis
BONUS: The Application of Psychology in Financial Planning
40: Successfully Guiding Clients Through The Changes And Transitions Of Life with Susan Bradley
39: A Masterclass In Excelling At The Human Side Of Advice with Carl Richards
38: A Framework For Understanding And Navigating The Dynamics Of Working With Couples with Ed Coambs
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