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:
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14: Moira Somers | The Importance of Giving Advice That Sticks (Part One)
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11: Evan Beach | An Evidence-Based Approach to Winning Prospects and Influencing Clients (Part One)
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9: Insulating Your Value From the Commoditization of Investments and Financial Planning
8: Daniel Crosby | The Path To Building A "Behavioralized" Practice
7: Catherine Morgan | How to Explore Client's Emotions, Beliefs, and Behaviors
6: Neil Bage | Bringing Behavior to Life in Financial Planning
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4: Greg Davies | Behavioral Insights to Maximize Anxiety-Adjusted Returns
ANNOUNCEMENT: New Name. Same Mission.
3: The Vision - A Blueprint for Mastering the Human Side of Money
2: The Origin - Identifying the Forces Shaping the Value and Future of Advice
0.5: The Preview - Why Now and What To Expect
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