Welcome to another episode of the Conversations for Financial Professionals podcast where we are shaping the next generation of financial advice.
Today I talk with Michael G. Thomas Jr., Ph.D., who is an Accredited Financial Counselor (AFC®) and a lecturer at the University of Georgia. His research focuses on financial empathy and self-compassion, data visualization's effects on financial behavior, and the connection between brain function and money. Dr. Thomas's philosophy on how to effectively interact with money can be summed up in his Ted Talk: Financial Empathy: Understanding the Story Beneath the Numbers. Utilizing financial empathy as a process for active listening and the creation of client-focused financial recommendations are reflected in two financial literacy and capability programs he helped create: Money Dawgs and Discovering Money Solutions. Dr. Thomas is also the founder of Modom Solutions - a virtual financial coaching service he has been providing since 2015. He is also soon to be an author as he expects to release his forthcoming book, Black Financial Culture: Building Wealth from the Inside Out, in the fourth quarter of 2022.
In this episode, you'll discover:
🎙️Michael's story and how he discovered the financial planning profession
🎙️Why career changers make good candidates for the planning profession
🎙️What mental barriers new entrants face
🎙️How to leverage existing skills to flatten the learning curve
🎙️Using EQ over IQ
🎙️In your own words, what does the phrase "empathetic financial planning" mean to you?
Resources:
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CFFP # 25 What Firm Owners Seek in Career Changers ft. Lawrence Smith, CFP ®, CRPC ®, CRPS ®
CFFP# 24 - From College to Career--Advice for the Pandemic and Beyond ft. Andrea Koppel
CFFP# 23 - The Ultimate Guide to Productivity **IN JUST 12 WEEKS **ft. Brian Moran
CFFP# 22 - Financial Services and the Millennial Generation-Shannah Comptom Game
CFFP# 21 - Adding Value Through Software and Automation—The Holistiplan Story ft. Kevin Lozer
CFFP# 20 - The ABCs of Elder Care for Financial Professionals ft. Annalee Kruger
CFFP# 19 - So You Want to Get Into Financial Planning...Here's What You Need to Know! ft. Nancy Langdon Jones
CFFP# 18 - What's Changing About Financial Services in the Next 10 Years ft. Patrick Mahoney & Skip Schweiss
CFFP# 17 - How to Jumpstart Your Marketing Plan ft. Janelle Orion
CFFP# 16 - A New Era for Financial Advisor Marketing: Implications from the New SEC Marketing Rule ft. Chris Stanley
CFFP# 15 - How Do Marketing Funnels Work and Do I Need One? Ft. Miles Beckler
CFFP# 14 -Psychology of Money Decisions ft. Annie Emprima-Martin
CFFP# 13 - What's Holding You Back from Achieving Your Dream? ft. Teri Ijeoma
CFFP #12 From Career Changer to Financial Planner ft. Deanda Wilson
CFFP #11 What are the Best Marketing Tools? ft. Phil Jones
Recapping Season 1, Preview of Season 2
CFFP #10 The Power of Your Perspective ft. Andy Andrews
CFFP #09 Finding Your Voice and Holding Your Ground in Financial Services ft Jacqueline Schadeck
CFFP #08 The Future of the Student Loan Crisis ft. Rob Bertman
CFFP #07 Understanding the Importance of Financial Planning ft. Ana Trujillo Limon
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