Podcasts about wired planning

FTAdviser speaks to Brendan Frazier, founder of Wired Planning, psychologist Dr Moira Somers, and Kusal Ariyawansa, adviser at Appleton Gerrard, about the best way to hold client discovery meetings, after their panel discussion at today's CISI conference. Hosted on Acast. See acast.com/privacy for more information.

Most of your clients will only implement 20% of your recommendations. Brendan Frazier, founder of Wired Planning, shares tips on creating advice your clients will actually follow.

Tune in to hear:- What makes up Brendan's list of the 10 guiding principles of financial psychology?- Brendan says that “goals shift, but values persist.” What does he mean by this and how do we move from illuminating values to tying those back to specific goals?- Brendan recently interviewed a “question expert” on his own podcast. What was the biggest takeaway from their conversation and how can we craft better questions?- Brendan's third tenant is that “the more vivid your future, the more likely the behavior change.” How can we make our future selves more salient and vivid?- Reflective listening, where you hear your words spoken back to you, has a lot of benefits. How can advisors take advantage of this phenomenon without merely parroting back what their client's are expressing?- Why are discovery meeting recap emails so important and what should they look like?- How can advisors “move from being an advice giver to being a thinking partner?”- In an industry so focused on the present day and the future, why is looking back on the past so important? What impact might this have on individual investor behavior?- What does Brendan consider to be the most important skill in financial advice?https://www.wiredplanning.comhttps://podcasts.apple.com/us/podcast/the-human-side-of-moneyCompliance Code: 1112-OAS-4/19/2023

In this episode, we welcome Brendan Frazier, Founder of Wired Planning. Behavioral finance isn't new - but Brendan has got implementing it down to a science. Our discussion with him breaks it down in ways that will resonate with advisors that are building a practice, and we also get into an interesting chat about the future of financial advice in our new AI Chat world that provides insight for advisors at all levels.

In this episode, Dan talked to Brendan Frazier, who is the Founder of Wired Planning. Here, they discussed how to align technical skills with the human side of planning, putting questions in context and the idiosyncratic importance of money. Join our community: www.nextgenplanners.co.uk  

Connecting to your clients on an emotional level builds trust and impacts their lives--and your business. Brendan Frazier, founder of Wired Planning and host of "The Human Side of Money" podcast, discusses how having emotionally connected clients leads to more valuable financial advice.

Brendan Frazier, Founder of Wired Planning, speaker, host of The Human Side of Money podcast, and former baseball player, joins me from Nashville, Tennessee, on today's episode of Bridging The Gap.Brendan shares his journey from baseball to financial advice, behavioral coaching, behavioral psychology, and research on helping clients and their actions. We also discuss understanding your clients' “why,” the significance of identifying your clients' financial journey, and the importance of drawing the line between knowing what your clients need to hear and see value in and what they don't. Guest Bio: Brendan Frazier is the founder of Wired Planning, the host of The Human Side of Money podcast, a keynote speaker, and was named one of Investopedia's Top 100 Financial Advisors. He's building a global community and training program for advisors to master the human side of advice, enhance their client's lives, and forever change the trajectory of their business.Mentioned in this episode:Benjamin

Provide good numbers and exceptional service and you'll have a satisfied client. Create a personal connection, and you may be surprised at the results.  In this episode, Laura Gregg and David Partain speak with financial advisor Brendan Frazier, founder of Wired Planning and host of The Human Side of Money podcast. Brendan offers three simple … Continue reading Ep 84: Why Settle for “Satisfied” Clients? — Brendan Frazier on the Value of Emotional Connection →

As an advisor, if you don't have the behavioral part of financial planning dialed in, nothing else will matter. This aspect of financial planning comes down to good communication and a deep understanding of how your clients operate. In fact, the practices that are the most successful and have the best relationships with their clients have mastered the human side of finances. In this episode, Brendan Frazier, Founder of Wired Planning, will be joining Matthew to discuss the “softer side” of financial planning that everyone should be focusing on. You can find show notes and more information by clicking here: https://bit.ly/3CE1k5z 

Brendan Frazier is the founder of Wired Planning, a platform dedicated to equipping financial advisors and planners with practical tips and insights to apply behavioral finance and master the human side of advice. Brendan has been on the prestigious Investopedia's Top 100 Financial Advisors and is a sought after keynote speaker. After graduating with a Bachelor's degree in Business Administration and Marketing from Belmont University, Brendan worked at Jackson National as a business development consultant. He then served as a regional sales consultant for Raymond James before launching Wired Planning. Brendan hosts The Human Side of Money, a podcast where he speaks with financial experts and thought leaders to explore the relationship between human behavior and money. Brendan joins us today to discuss the human side of financial advice. He offers ideas for building relationships with clients and reveals how financial advisors can ignite behavioral changes in clients to align them with their financial goals. He defines “reverse rapport,” explains how to avoid it, and highlights the importance of building trust rather than focusing on hard-selling. Brendan also underscores the importance of uncovering a client's values and financial “why.”   “The human side of advice is everything that you didn't get in training, but you absolutely need to know it to best serve your clients and your business.” - Brendan Frazier   This week on The Model FA Podcast: Brendan's background and how he started Wired Planning The human side of advice and the psychology of money Best practices for improving discovery and prospecting process The dangers of creating “reverse rapport” and the secret to establishing trust and likeability The power of asking great questions Weaving the human side of advice into a presentation meeting with clients and prospects Creating emotions around numbers and anchoring to a client's “why” How emotionally-connected clients can help you grow your business   Resources Mentioned: Book: Advice That Sticks: How to Give Financial Advice that People Will Follow by Moira Somers Book: Conversations: How to Manage Your Business Relationships One Conversation at a Time by Ivan Farber Book: How to Talk So Kids Will Listen and Listen So Kids Will Talk by Adele Faber Book: The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness by Morgan Housel   Our Favorite Quotes: “Most advisors have a well-defined, logical service model. Adding a human component ensures that there's a focus on client experience and emotions to drive them to action.” - David DeCelle “Ask clients great questions not about their favorite football team, but about them and their financial journey.” - David DeCelle “Nothing fuels behavior and increases motivation more than giving somebody the ‘why' behind what they're doing.” - Brendan Frazier   Connect with Brendan Frazier: Wired Planning Podcast: The Human Side of Money Brendan Frazier on LinkedIn Brendan Frazier on Twitter Email: brendanfrazier@wiredplanning.com   About the Model FA Podcast   The Model FA podcast is a show for fiduciary financial advisors. In each episode, our host David DeCelle sits down with industry experts, strategic thinkers, and advisors to explore what it takes  to build a successful practice — and have an abundant life in the process. We believe in continuous learning, tactical advice, and strategies that work — no “gotchas” or BS. Join us to hear stories from successful financial advisors, get actionable ideas from experts, and re-discover your drive to build the practice of your dreams.    Did you like this conversation? Then leave us a rating and a review in whatever podcast player you use. We would love your feedback, and your ratings help us reach more advisors with ideas for growing their practices, attracting great clients, and achieving a better quality of life. While you are there, feel free to share your ideas about future podcast guests or topics you'd love to see covered.    Our Team: President of Model FA, David DeCelle   If you like this podcast, you will love our community! Join the Model FA Community on Facebook to connect with like-minded advisors and share the day-to-day challenges and wins of running a growing financial services firm.

Tune in to hear:- Behavioral Coaching is one of the most important things a financial professional can do for their client, yet surveys show that clients don't put a lot of value on it. How can we bridge this gap and help our clients see how much value we can deliver here?- Brendan claims that many advisors are creating “reverse rapport” in their first client meetings. What does he mean by this and how are they getting it wrong?- How do we help our clients prepare for an uncertain future when not only the markets themselves, but also the market participants, are both so subject to change?- Might we be too focused on “igniting the fuel” of a client's investment plan? Can removing friction be an equally, if not more, effective strategy to help them achieve their goals?www.wiredplanning.comCompliance Code: 3123-OAS-12/16/2021

Brendan Frazier is the founder of Wired Planning, the host of The Human Side of Money podcast, keynote speaker and was named one of Investopedia's Top 100 Financial Advisors.Wired PlanningFind Brendan on LinkedIn

Brendan Frazier is founder of Wired Planning and host of The Human Side of Money Podcast which is all about working with emotional human beings on the emotionally charged topic of money. Brendan has been interviewing experts around the world, talking to like-minded advisors and industry consultants, in the fields of behavioral finance, psychology and communication. He was named in Investopedia's Top 100 Financial Advisors list for 2021. Brendan says that the future of financial advice is evolving. The real value of an advisor no longer lies in the ability to build a plan and portfolio. It's the ability to guide clients through the process, unearth their values and emotions, and change their behavior for the better. A realm of the relationship called the human side of money. Connect with Brendan here: Podcast: https://www.wiredplanning.com/wpblog/ Twitter: https://twitter.com/jbrendanfrazier Website: https://www.wiredplanning.com/ Thanks for listening! We love your support, please subscribe, review, comment and share this episode to help empower and educate more folks around the money stuff! Check out more about us here: www.moneymechanics.com.au www.scottmalcolm.com.au Check out our Financial Service Guide and Privacy Policy here. Follow and like us on socials: Instagram: @moneymechanics Twitter: @moneymechanics Money Mechanics Pty Ltd (ABN 64 136 066 272) is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd (ABN 47 097 797 049) AFSL and Australian Credit Licence No. 236523 General Advice Warning Information in this podcast has been prepared for general information purposes only and not as specific advice to any particular person. Any advice contained is General Advice and does not take into account any person's particular investment objectives, financial situation and particular needs. Before making an investment decision based on this advice you should consider, with or without the assistance of a qualified adviser, whether it is appropriate to your particular investment needs, objectives and financial circumstances. Past performance of financial products is no assurance of future performance. Product Disclosure Statements contain information necessary for you to make a decision whether or not to invest in financial products which may be mentioned in this podcast. Ideally we suggest you speak with a licensed financial planner and seek out personal advice!See omnystudio.com/listener for privacy information.

Steven's guest is advisor Brendan Frazier, the founder of Wired Planning and host of “The Human Side of Money.” His primary focus, as a tax planner, is the psychology of advising. In other words, he helps clients keep motivated for success.

Brendan is the Founder of Wired Planning and Host of The Human Side of Money Podcast. He and Louis discuss the focus on the "human side" of advice, and what drove Brendan to start his podcast. Brendan Frazier LinkedIn: https://www.linkedin.com/in/brendanfrazier/ Wired Planning Website: https://www.wiredplanning.com/ For more information on PortfolioMetrix reach out to our team or follow us on LinkedIn. https://www.portfoliometrix.com/za/ Asset-Map. Deliver advice, faster. https://www.asset-map.com/south-africa Visit https://www.allangray.co.za/ to learn how we build long-term wealth for clients. Join the XY platform: App Store: http://co.xyadviser.com/xyistore Google Play: http://co.xyadviser.com/xygplay Desktop: https://www.xyadviser.com/ General Disclaimer – https://www.xyadviser.com/disclaimer/

Podcast: You're a Financial Planner, Now What? (LS 37 · TOP 2.5% what is this?)Episode: The Essential Skills of Behavioral FinancePub date: 2021-06-22Brendan Frazier is the founder of Wired Planning and The Human Side of Money Podcast. He sat down with Hannah Moore, CFP®, to discuss the controversy around behavioral finance and the unavoidable role it plays in every client interaction. They also discuss how we can all develop better behavioral coaching skills for mutually satisfying client relationships.The podcast and artwork embedded on this page are from Financial Planning Association, which is the property of its owner and not affiliated with or endorsed by Listen Notes, Inc.

Podcast: You're a Financial Planner, Now What? (LS 36 · TOP 2.5% what is this?)Episode: The Essential Skills of Behavioral FinancePub date: 2021-06-22Brendan Frazier is the founder of Wired Planning and The Human Side of Money Podcast. He sat down with Hannah Moore, CFP®, to discuss the controversy around behavioral finance and the unavoidable role it plays in every client interaction. They also discuss how we can all develop better behavioral coaching skills for mutually satisfying client relationships.The podcast and artwork embedded on this page are from Financial Planning Association, which is the property of its owner and not affiliated with or endorsed by Listen Notes, Inc.

Brendan Frazier is the founder of Wired Planning and The Human Side of Money Podcast. He sat down with Hannah Moore, CFP®, to discuss the controversy around behavioral finance and the unavoidable role it plays in every client interaction. They also discuss how we can all develop better behavioral coaching skills for mutually satisfying client relationships.

In this episode, we sit down with Brendan Frazier – Founder of Wired Planning and Host of Human Side of Money -  a podcast that helps advisors think through the behavioral side of your business. Brendan is all about helping advisors deliver better outcomes for their clients uncovering the research and insights from the fields of behavior change, psychology, communication, negotiation, and more. We get into some incredible stories and examples of how advisors can approach each and every client relationship with a behavioral lens.

Founder of Wired Planning and Host of The Human Side of Money Podcast. He talks about specialising your advice, with a focus on clients' hopes, goals and dreams. He also covers what questions advisers should be asking, and how to get clients to actually follow the advice they've been given. Brendan Frazier LinkedIn: https://www.linkedin.com/in/brendanfrazier/ Wired Planning Website: https://www.wiredplanning.com/ This podcast is brought to you by Integrity Life. Go to https://www.integritylife.com.au/xy to find out more. Join the XY platform: App Store: http://co.xyadviser.com/xyistore Google Play: http://co.xyadviser.com/xygplay Desktop: https://www.xyadviser.com/ General Disclaimer – https://www.xyadviser.com/disclaimer/

Ask any financial advisor if behavioral finance plays an important role in delivering ideal outcomes to clients, and you'll get a resounding "Yes." Ask those same advisors if they know exactly what to say and do to seamlessly apply behavioral finance, and you'll get a resounding "No!" Knowing someone is suffering from loss-aversion helps explain why he or she behaved a certain way. But the effective application of behavioral finance tells you what to do about it. That's where change occurs. Jay Mooreland, founder of the Behavioral Finance Network, has been helping advisors apply behavioral finance in their practice for the better part of a decade (even before "behavioral finance" was cool!). In this episode, we discuss: How to use a "Behavioral Plan Policy Statement" to facilitate ideal behavior What effective behavioral coaching looks like and what most advisors get wrong The often-overlooked benefit of differentiating your business when applying behavioral finance The importance of coaching on one principle in every meeting How proactive communication instills good behavior and ways to use it with clients   *For anyone interested in joining The Behavioral Finance Network, Jay is offering a $75/month discount on his memberships for our listeners. Go to the membership page, and apply the coupon code "HSOM" at checkout.  For more information and resources discussed in this episode, visit: www.wiredplanning.com/episode22 To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning. Follow Brendan: Twitter LinkedIn

Podcast: The Human Side of Money (LS 39 · TOP 1.5% what is this?)Episode: 20: George Kinder | The Future of Financial Planning is Life PlanningPub date: 2021-04-14Financial planning without any regard for the person's dreams, values, and life they want to live is nothing more than numbers on paper. A person's dreams, values, and life they want to live without any regard for money is nothing more than a fantasy. Life planning is simply connecting the client's dreams and values with the strategies of financial planning that create the life of freedom that person has always envisioned. George Kinder, the father of the life planning movement, joined the show to discuss: The two pieces of advice that George gives to anyone that wants to become a great listener "The Pause" - the one skill he said every advisor should know and learn The two things they train advisors to listen for to enhance the conversation A deep dive into the famous three questions and the best practices for applying them "Lighting The Torch" - the key step in the life planning process that ignites behavior change   For more information and resources discussed in this episode, visit: www.wiredplanning.com/episode20 To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning. Follow Brendan: Twitter LinkedInThe podcast and artwork embedded on this page are from Brendan Frazier, which is the property of its owner and not affiliated with or endorsed by Listen Notes, Inc.

Podcast: The Human Side of Money (LS 42 · TOP 1.5% what is this?)Episode: 20: George Kinder | The Future of Financial Planning is Life PlanningPub date: 2021-04-14Financial planning without any regard for the person's dreams, values, and life they want to live is nothing more than numbers on paper. A person's dreams, values, and life they want to live without any regard for money is nothing more than a fantasy. Life planning is simply connecting the client's dreams and values with the strategies of financial planning that create the life of freedom that person has always envisioned. George Kinder, the father of the life planning movement, joined the show to discuss: The two pieces of advice that George gives to anyone that wants to become a great listener "The Pause" - the one skill he said every advisor should know and learn The two things they train advisors to listen for to enhance the conversation A deep dive into the famous three questions and the best practices for applying them "Lighting The Torch" - the key step in the life planning process that ignites behavior change   For more information and resources discussed in this episode, visit: www.wiredplanning.com/episode20 To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning. Follow Brendan: Twitter LinkedInThe podcast and artwork embedded on this page are from Brendan Frazier, which is the property of its owner and not affiliated with or endorsed by Listen Notes, Inc.

For most financial advisors, the idea of work/life balance is nothing more than an illusion. Especially for those who started, survived, and thrived in the profession based on a mindset that success was simply a numbers game. Survival and success relied upon activity. There was a direct correlation between the amount of work you put in and the reward you reaped. Travis Parry used to live this life. But, now, he's using his research-backed method to show advisors how to, not only, achieve work/life balance, but thrive both at work and at home. In this episode, we discuss: Regaining more time by conquering the three myths of time management Why "balance" is misleading and a better way to think of it Prioritizing your time according to your goals and values using a Business Ideal Calendar The surprising results from his research on a crucial element to goal achievement and behavior change How work/life balance better equips you for the human side of advice   For more information and resources discussed in this episode, visit: www.wiredplanning.com/episode21 To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning. Follow Brendan: Twitter LinkedIn

Financial planning without any regard for the person's dreams, values, and life they want to live is nothing more than numbers on paper. A person's dreams, values, and life they want to live without any regard for money is nothing more than a fantasy. Life planning is simply connecting the client's dreams and values with the strategies of financial planning that create the life of freedom that person has always envisioned. George Kinder, the father of the life planning movement, joined the show to discuss: The two pieces of advice that George gives to anyone that wants to become a great listener "The Pause" - the one skill he said every advisor should know and learn The two things they train advisors to listen for to enhance the conversation A deep dive into the famous three questions and the best practices for applying them "Lighting The Torch" - the key step in the life planning process that ignites behavior change   For more information and resources discussed in this episode, visit: www.wiredplanning.com/episode20 To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning. Follow Brendan: Twitter LinkedIn

There is zero correlation between the size of your bank account and the overall contentment and happiness of your life. If you've worked with people and their finances long enough, you've seen it time and time again.  But, once you can align money with meaning, you have the foundation of a happy, meaningful life. Doing so requires an understanding financial strategies and the ingredients of a meaningful life (which vary person to person). Financial advisors excel at financial strategies but often fall short at helping clients illuminate the ingredients of a meaningful life. Brian Portnoy has spent decades writing, speaking and teaching on how to map money to meaning on the path to funded contentment. In this episode, we discuss: A real, tangible definition of financial wellness or well-being Using the "Four C's" of contentment and the "7 Dimensions of Money Life" to map money to meaning The conversations to have with clients to uncover their meaning The behavioral and psychological challenges inherent with goals-based planning and why most advisors aren't equipped for it The dimensions of behavioral coaching beyond keeping your client invested in the market   And more! For more information and resources discussed in this episode, visit: www.wiredplanning.com/episode19 To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning. Follow Brendan: Twitter LinkedIn

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 framework she and her team developed to assess a client's money mindset The important distinction between financial and emotional well-being The #1 predictor of savings behavior and how to help clients with it Using a "What-If Journey" to help clients overcome their fears How role model's can play a powerful role in changing behavior and overall well-being   For more information and resources discussed in this episode, visit: www.wiredplanning.com/episode18 To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning. Follow Brendan: Twitter LinkedIn

Adrian Murphy is the CEO of Murphy Wealth, a multi-award winning financial planning firm in the UK. Most recently, his firm made waves throughout the industry with the announcement that they were hiring a Chief Behavioral Officer as a part of their transition to a "human-first" strategy. In this episode, we discuss: The decision to transition to a "human-first" strategy and what the vision looks like for the firm and for clients The importance of getting clients from a "thinking" place to a "feeling" place and how to do it The reason he intentionally avoids starting a question with the word "Why" The listening workshops his firm goes through to hone their listening skills How he came to the decision to hire a chief behavioral officer What he envisions for the role of a Chief Behavioral Officer and the ways he expects it to benefit client outcomes and the growth of the firm   And more! For more information and resources discussed in this episode, visit: www.wiredplanning.com/episode17 To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning. Follow Brendan: Twitter LinkedIn

When it comes to changing someone's behavior, much of the focus goes to persuasion and nudging techniques. In reality, for financial advisors, the primary weapon of influence you have over someone's behavior is your ability to communicate and connect at the highest level. Dr. Joy Lere is a licensed clinical psychologist and behavioral finance consultant who has spent her entire career learning to communicate and connect with her clients to give them clarity, build trust, and ultimately change their behavior for the better. In this episode, we discuss: Ways to create "space" for someone to open up and share more than they do with most people Reading body language and posture and effective ways to address it What Joy would tell herself 10 years ago about how to get better at reading people How to identify a "presenting" issue to know that there's more to what a client is telling you A powerful questioning technique to get someone to make changes The two points in your life that have the biggest impact on your beliefs and behaviors around money And more! For more information and resources discussed in this episode, visit: www.wiredplanning.com/episode16 To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning. Follow Brendan: Twitter LinkedIn

Dr. Moira Somers, financial psychologist and author of the best-selling book Advice That Sticks: How to Give Financial Advice People Will Follow, consults with advisors and firms around the world to deliver "stickier" advice that leads to more follow-through and implementation. In Part Two of the conversation, Brendan and Moira discuss: A specific process to use at the end of every meeting to drastically improve follow-through The biggest mistake advisors make when trying to get clients to follow-through (also the most common) A specific process for the beginning of every meeting to make your advice stickier The #1 piece of advice Moira gives any advisor looking to improve their meetings, relationships, and follow-through What studies show is the primary determinant of client satisfaction in a meeting And more! For more information and resources discussed in this episode, visit: www.wiredplanning.com/episode15 To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning. Follow Brendan: Twitter LinkedIn

The perfect plan is rendered useless in the absence of execution. Flawless technical advice minus implementation is worthless. While you would think that providing someone a step-by-step plan to accomplish their goals while minimizing their fears would be all that's needed to spur someone into action, anyone that works with people and their money knows that simply isn't the case. But, take a minute to imagine what your day would look like if every client immediately followed through and implemented your advice without having to follow up with a phone call or email. While that might be a bit of a stretch, the quickest and most effective way to boost follow-through is by improving the "stickiness" of your advice. Dr. Moira Somers, author of the best-selling book Advice That Sticks: How to Give Financial Advice People Will Follow, discusses: The parallels between medical and financial advice and what the medical research can teach us about the challenges and improving "adherence." How much responsibility falls on the advice-giver when advice isn't implemented (Hint: It's way more than you think!) How improving follow-through and implementation benefits both your clients, your business, AND your well-being The most common reason clients fail to follow-through and an effective method to overcome it A proven method to help get through the friction of the data gathering process The most important role an advisor plays in improving future behavior   For more information and resources discussed in this episode, visit: www.wiredplanning.com/episode14 To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning. Follow Brendan: Twitter LinkedIn

You've heard countless trainings and presentations on the power of referrals and how to get them. In this episode, we're approaching referrals in a new way: through the lens of psychology. Imagine being able to get inside the minds of your clients to better understand what they think about referrals, how they feel about referring, how they would prefer you to bring it up with them, and maybe most importantly, what they identify as the most common barriers to referring more often. That's exactly what Dan Allison did. Relying on his background in clinical and behavioral psychology, Dan interviewed thousands of clients, asking them those exact questions to help better understand the psychology of getting more referrals. We discuss: How to bring up the referral conversation in a comfortable way based on what the clients wants The big mistake most advisors make (but don't realize it) when asking for referrals The one question that every firm should ask to instantly boost their referability How to ensure you get referrals when someone passively hands out your information What 60% of clients say when asked the reason why they don't refer and what they say when asked why they do refer   For more information and resources discussed in this episode, visit: www.wiredplanning.com/episode13 To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning. Follow Brendan: Twitter LinkedIn

Evan Beach is the Director of Wealth Advisory for Campbell Wealth Management, an RIA firm in Alexandria, VA that oversees around $800 million AUM almost exclusively for clients over the age of 55. He writes for Kiplinger and the Journal of Financial Planning and has become widely renown in the industry for his expertise in retirement planning and practice management. Most recently, Evan wrote an article discussing how to tailor everything in your practice or your firm around what clients want (and not what we think they want) based on what research tells us and shares the tremendous growth their firm has seen as a result. Imagine how much easier it would be to get someone from prospect to life-long client if you could look into their mind and know what they value? Or how much easier it would be to get a client to follow-through on the advice given if you knew exactly what was going on in their mind? We've been given those answers, and in this episode, Evan and I discuss the specific ways Evan and his firm have evolved their processes, systems and conversations to deliver what clients actually want. We discuss: The 5-minute exercise their firm uses that converts nearly every prospect into a client The changes Evan made to his meeting process to focus on what clients want that led to a massive boost in new assets The exact question his firm asks everyone in their first meeting that lays the groundwork for success The reason why he encourages clients to state their goals publicly as many times as possible Why Evan strives to make sure stories are an integral part of every conversation and presentation The stories he's learned to tell that resonate the most with clients and prospects   For more information and resources discussed in this episode, visit: www.wiredplanning.com/episode12 To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning. Follow Brendan: Twitter LinkedIn

Evan Beach (LinkedIn) is the Director of Wealth Advisory for Campbell Wealth Management, an RIA firm in Alexandria, VA that oversees around $800 million AUM almost exclusively for clients over the age of 55. He writes for Kiplinger and the Journal of Financial Planning and has become widely renown in the industry for his expertise in retirement planning and practice management. Most recently, Evan wrote an article discussing how to tailor everything in your practice or your firm around what clients want (and not what we think they want) based on what research tells us and shares the tremendous growth their firm has seen as a result. Imagine how much easier it would be to get someone from prospect to life-long client if you could look into their mind and know what they value? Or how much easier it would be to get a client to follow-through on the advice given if you knew exactly what was going on in their mind? We've been given those answers, and in this episode, Evan and I discuss how to take those answers and apply them to your practice in a way that will deliver better client outcomes and boost your new asset growth. We also discuss: The behavioral reasons why Evan decided not to charge for financial plans The moment Evan realized that his whole onboarding process was designed around what he thought was important instead of what clients wanted The importance of a "test driving experience" Why positioning your value around behavioral coaching can actually work against you   For more information and resources discussed in this episode, visit: www.wiredplanning.com/episode11 To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning. Follow Brendan: Twitter LinkedIn

Meghaan Lurtz (Twitter and LinkedIn) is a Senior Research Associate for Kitces.com, where she researches and writes on virtually everything that falls under the realm of the human side of money. She's also involved with colleges and universities across the country in their financial planning programs and has her Ph.D. in Personal Financial Planning from Kansas State University. One of her areas of expertise also happens to be one of the most underutilized, under-appreciated and most effective tools for improving behavior and igniting behavior change with clients or prospective clients. The ability to help someone bridge the gap between their current and future self. Once you know the tools, ideas, and methods to do so, you'll watch clients and prospects seamlessly move through the process in a way you never imagined possible. In this episode, we discuss: The research behind why saving for our future selves is like saving for a stranger The signals to look for and ways to determine whether someone needs help bridging the gap between their current and future self Questions to ask a client or prospect (and when to ask them) to help them clearly define and vividly describe their future Five practical and specific ways to bridge the gap with someone that Meghaan has seen work effectively with clients Three reasons why we tend to prioritize our current self to the detriment of our future self   For more information and resources discussed in this episode, visit: www.wiredplanning.com/episode10 To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning. Follow Brendan: Twitter LinkedIn

Technology is a familiar foe to the profession of financial advice. With Charles Schwab and Bank of America both recently announcing their plans to offer free financial planning software to the masses, the industry continues to inch closer and closer to the commoditization of our technical expertise. The reality is that constructing a financial plan and building a portfolio will soon be available at a lower cost, in less time, and with less mistakes than working with a financial advisor. This brings up some familiar questions: What does this mean for the role of a financial advisor in the future? Should I expect fees to compress and prices to drop? How do I add enough value to justify higher fees? Most importantly: "What can I do to forever insulate my value from the continued threat of technology?" In this solo episode, Brendan tells a story from the chess industry and the lessons we can learn to: 1) Forever insulate our value from further technological disruption 2) Embrace technology to raise advice to a level we've never seen before To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning. Follow Brendan: Twitter LinkedIn

Daniel Crosby (Twitter and LinkedIn) is one of the most highly-respected minds in the modern world of behavioral finance, especially within the realm of financial services. As a Chief Behavioral Officer, his job is to help advisors with the practical application of behavioral finance through tools, training, and technology. He is a best-selling author of two books on the topic (The Laws of Wealth and The Behavioral Investor) and hosts the Standard Deviations podcast.  In this episode, we discuss: How to effectively embed and communicate the value of behavioral coaching in your practice The most common misconceptions about behavioral coaching Three specific strategies everyone can use to help improve client behavior An exercise to walk you through where your practice can benefit from behavior and psychology How behavioral coaching can insulate your value from any future threat posed by technological advancement The technology Daniel is building that will allow you to take behavioral finance to a whole new level   For more information and resources discussed in this episode, visit: www.wiredplanning.com/episode8 To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning. Follow Brendan: Twitter LinkedIn

Catherine Morgan (Twitter and LinkedIn) is an award-winning financial planner and coach at The Money Panel and host of the In Her Financial Shoes podcast.  In addition to working with clients on a daily basis, she also has a financial coaching training program, where she teaches financial professionals across the world how to seamlessly incorporate the core skills and principles of financial coaching into their practice. In this episode, we discuss: How personal experiences shape your values, beliefs, emotions, and behaviors around money, including Catherine opening up to share her own powerful story Specific questions and strategies Catherine uses to guide clients through the process of uncovering their own experiences and the impact it had on their emotions, beliefs, and behaviors How Catherine crafts her messaging and designs her practice to have these conversations with clients and prospective clients given that no one ever says they want to explore their money beliefs The relationship-changing benefits of listening and Catherine's tips on how develop your listening skills Why it's important for anyone that helps others with finances to first explore their own relationship with money and a specific place to start The Rapid-Fire 3-Pack of questions on behavioral finance that every guest answers   For more information and resources discussed in this episode, visit: www.wiredplanning.com/episode7 To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning. Follow Brendan: Twitter LinkedIn

Neil Bage (Twitter and LinkedIn) is highly-renowned in the fields of financial services and behavioral science for has ability to bridge scientific theory with real-world understanding, particularly when it comes to human behavior in light of financial health and well-being. He's the co-founder of Be-IQ, a multi-award winning behavioral insights company that focuses on providing research and tools on behavioral finance for financial advisors and planners around the world. As he puts it, his mission is to bring "behavior to life" for financial advisors. In this episode, we discuss: The "achilles heel" of our industry (Hint: it's not a lack of technical knowledge) Why the future of financial planning will have the human as the center piece Examples from hospitality, law, and therapy on how to wrap the human element around technical competency The importance of getting clients or prospects into a calm, peaceful state prior to a meeting and specific ways to do it When you should actually cancel and reschedule a meeting How naming and labeling emotions ignites trust and communication The story of an advisor who used the tools from Be-IQ to finally breakthrough to a client after 15 years The "Empathy Gap" - What it is and why you should be aware of it in every meeting What Neil calls the "transformational benefits" for advisors who bring behavior to life   For more information and resources discussed in this episode, visit: www.wiredplanning.com/episode6 To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning. Follow Brendan: Twitter LinkedIn

Andy Hart (Twitter and LinkedIn) is the founder of Maven Adviser, the host of the Maven Money podcast, and the founder of Humans Under Management, a behavioral finance conference with a focus on delivering better outcomes for clients.  As someone who both runs a successful practice as a financial advisor and helps advisors better understand how to apply behavioral finance in their practice, Andy came highly recommended for his ability to provide specific and practical strategies he's used with his clients for years to promote optimal behavior and deliver better outcomes. What we discuss with Andy: The many realizations Andy experienced that opened his eyes to the fact that he's managing humans more than money How Andy has learned to communicate the value of behavioral coaching despite the fact that it's rarely seen as a value-add from clients Specific framing and labeling tactics Andy uses with clients to prompt optimal behavior and deliver better outcomes The dangers of using jargon and how to avoid it The "I was thinking number" - a strategy Andy uses to nudge clients to save more than they ever thought they could Why he decided to include the behavioral benefits of working with an advisor on his website rather than traditional buzzwords like "Holistic", "Comprehensive", and "Customized." The three people Andy would want to listen to at a roundtable discussion on behavior, finance, and psychology The books he recommends anyone that's interested in the field of behavioral, finance, and psychology What he would recommend any advisor or planner do in order to start mastering the human side of money and applying behavioral finance into their practice   For show notes and resources discussed in this episode, visit: www.wiredplanning.com/episode5 To join a community of like-minded advisors and planners looking for insights and information on how to leverage behavior change, psychology, and communication to master the human side of money, visit Wired Planning. Follow Brendan: Twitter: @jbrendanfrazier LinkedIn: Brendan Frazier

As an expert in applied decision science and behavioral finance, Greg gives one example after another on how you can design your practice, your process, and your conversations for optimal behavior and better outcomes. Greg Davies (Twitter and LinkedIn) is the head of behavior at Oxford Risk, where he focuses on improving financial decision making through the use of behavioral science and is the co-author of the book Behavioral Investment Management. Greg works with advisors and planners around the world on how to apply behavioral finance in order to make optimal decisions in the face of complexity, uncertainty and behavioral biases. What we discuss with Greg: The two types of financial plans: One for technical knowledge and one for governing behavior How our human bias makes us ill-equipped to handle the suitability process How the implementation of technology unlocks your ability to give better advice AND focus more on the human side of the relationship The pitfalls of traditional risk tolerance questionnaires The importance of nailing the risk assessment with a focus on anxiety-adjusted returns instead of risk-adjusted returns The three components of risk assessment: Risk Tolerance, Risk Capacity, and Emotional Capacity and how to incorporate them all How to know whether you need to improve your risk assessment process (Hint: there's a very good chance that you do!) Why selling at the bottom is NOT irrational The three people Greg would want to listen to at a roundtable discussion on behavior and psychology The books he recommends anyone that's interested in the field of behavior and psychology Where he thinks behavioral finance will be within the industry in 2030 For show notes and resources discussed in this episode, visit: www.wiredplanning.com/episode4 To join a community of like-minded advisors and planners looking for insights and information on how to leverage psychology, behavior change, and communication to master the human side of money, visit Wired Planning.   Follow Brendan: Twitter: @jbrendanfrazier LinkedIn: Brendan Frazier  

Financial planners and advisors recognize the importance of applying behavioral finance into their practice, especially as the value and future of advice continues to shift towards the human side of money.   When asked why the don't implement behavioral finance into their practice, the top two answers aren't surprising to anyone:   Difficulty translating theory to application Lack of necessary tools and training   The technical side of money is easy. The human side is the hard part.   In an industry where 99% of the training, certifications, designations, and conference are geared towards the technical side of the relationship, high-quality, top-notch resources on applying behavioral finance in your practice are sparse.   In this episode, Brendan answers the most common question posed by advisors and planners when it comes to the human side of money: "How do I develop this skill set?"    The answer lies in a 3-step process:   1) Spark Innovation from Outside Perspectives: We need to look to experts in fields like behavior, psychology, communication, and more. 2) Channel Outside Perspective Through Experience: We can learn from those outside of our industry, but ultimately, we need to have a community of other advisors and planners to collaborate with. 3) Refine Through Practice: Like any skill, you'll never get the results you want without practice.   At the end, Brendan provides examples of how Wired Planning and this podcast plan on serving the industry in each of these three areas.   For more insights and information on how to leverage psychology, behavior change, and communication to master the human side of money visit Wired Planning.   Follow Brendan: Twitter: @jbrendanfrazier LinkedIn: Brendan Frazier

The value and future of financial advice is currently facing a crossroads as it shifts towards blending technical advice with the ability to change behavior. In this episode, Brendan tells the story of a client meeting he observed that helped shine a light on the forces causing this shift and why most advisors and advisory businesses simply aren't equipped to evolve and take advantage. Using this meeting as the lens, he explores: Why the future of advice will be more focused on guiding clients through the process and changing behavior for the better How heart bypass surgeries, entrepreneurs, obesity, and marriages teach us that providing information and advice will never be a sustainable value proposition How pairing technical expertise and the human side of money provides massive benefits to your clients and your business The immense gap that exists between the skill set advisors possess and the skill set they need to evolve with this shift in value towards the human side of money What advisors can learn from hostage negotiators and therapists in this quest for a new skill set For more insights and information on how to leverage psychology, behavior change, and communication to master the human side of money visit Wired Planning. Follow Brendan: Twitter: @jbrendanfrazier LinkedIn: Brendan Frazier If you have any ideas or suggestions for topics or guests you would like to be featured on the podcast, email them to brendanfrazier@wiredplanning.com.