When you want to learn something about financial planning and advice, the ultimate source is Michael Kitces.
Most people know Michael is a spreadsheet-loving, technical wizard.
What most people don’t know is that he also fully believes in the human side.
In this episode, Michael explains the skills and processes advisors need to know on the path to mastering the human side of advice.
You’ll Learn:
And more!
*To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here
Resources:
Connect with Brendan Frazier:
Connect with Michael Kitces:
About Our Guest:
Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, is the Head of Planning Strategy for Buckingham Wealth Partners, a private wealth management firm located in St Louis, Missouri, that oversees approximately $50 billion of client assets. In addition, he is the co-founder of the XY Planning Network, AdvicePay, fpPathfinder, and New Planner Recruiting, former practitioner editor of the Journal of Financial Planning, and the publisher of the e-newsletter The Kitces Report and the popular financial planning industry blog Nerd’s Eye View through his website www.Kitces.com, dedicated to advancing knowledge in financial planning.
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Content here is for illustrative purposes and general information only. It is not legal, tax, or individualized financial advice; nor is it a recommendation to buy, sell, or hold any specific security, or engage in any specific trading strategy.
Information here may be provided, in part, by third-party sources. These sources are generally deemed to be reliable; however, neither our guest nor RFG Advisory guarantee the accuracy of third-party sources.
The views expressed here are those of our guest. They do not necessarily represent those of RFG Advisory, its employees, or its clients. This commentary should not be regarded as a description of advisory services provided by RFG Advisory, or performance returns of any client. The views reflected in the commentary are subject to change at any time without notice.
Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, LLC (“RFG Advisory or “RFG”), a registered investment advisor. Private Client Services and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.
RFG Advisory is an SEC-registered investment adviser. SEC registration does not constitute an endorsement of RFG by the Commission, nor does it indicate that RFG or any associated investment advisory representative has attained a particular level of skill or ability.
Michael Finke’s research shows that the trifecta of a happy and fulfilling retirement incorporates:
Most financial advisors know the money part.
But how can you incorporate the other health and social connection parts into a financial plan to help your clients live a happy and fulfilling retirement?
Fortunately, Michael Finke is the foremost authority on this topic and shares with us the three cornerstones of a happy and fulfilling retirement and how to incorporate it into your retirement planning work with clients.
You’ll Learn:
Resources:
Connect with Brendan Frazier:
Connect with Michael Finke:
About our Guest:
Michael Finke, Ph.D., is a Professor of wealth management and Frank M. Engle Distinguished Chair in Economic Security Research at The American College of Financial Services. He is a nationally known researcher in the areas of retirement income planning, retirement spending, life satisfaction, and cognitive aging. He is a frequent speaker at financial planning conferences and was named one of the 25 most influential people in the field of investment advising in 2020 and 2021 by Investment Advisor Magazine.
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Content here is for illustrative purposes and general information only. It is not legal, tax, or individualized financial advice; nor is it a recommendation to buy, sell, or hold any specific security, or engage in any specific trading strategy.
Information here may be provided, in part, by third-party sources. These sources are generally deemed to be reliable; however, neither our guest nor RFG Advisory guarantee the accuracy of third-party sources.
The views expressed here are those of our guest. They do not necessarily represent those of RFG Advisory, its employees, or its clients. This commentary should not be regarded as a description of advisory services provided by RFG Advisory, or performance returns of any client. The views reflected in the commentary are subject to change at any time without notice.
Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, LLC (“RFG Advisory or “RFG”), a registered investment advisor. Private Client Services and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.
RFG Advisory is an SEC-registered investment adviser. SEC registration does not constitute an endorsement of RFG by the Commission, nor does it indicate that RFG or any associated investment advisory representative has attained a particular level of skill or ability.
*This is a continuation of the conversation that started in the previous episode (Episode 118). We highly recommend listening to that episode first!
A statement of financial purpose serves as the mission statement for your client’s financial life.
It acts as the north star for making financial decisions that are in alignment with the things that are truly important in life.
Most advisors love the idea, but they don’t know how to do it.
Fortunately, Andy Baxley created an entire course on it.
And, in this conversation, he reveals the 3-step process he takes his clients through to craft a statement of financial purpose.
You’ll Learn:
Resources:
Connect with Brendan Frazier:
Connect with Andy Baxley:
About Our Guest:
Andy Baxley, CFP®, CIMA®, CeFT®, is a Sr. Financial Planner at The Planning Center. Andy’s approach to financial planning goes beyond the numbers; it’s about helping the individuals and families he serves achieve clarity, confidence, and a sense of purpose around their money. Ultimately, Andy doesn’t just want his clients to feel financially secure; he wants them to feel empowered to plan with a sense of optimism and possibility.
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Content here is for illustrative purposes and general information only. It is not legal, tax, or individualized financial advice; nor is it a recommendation to buy, sell, or hold any specific security, or engage in any specific trading strategy.
Information here may be provided, in part, by third-party sources. These sources are generally deemed to be reliable; however, neither our guest nor RFG Advisory guarantee the accuracy of third-party sources.
The views expressed here are those of our guest. They do not necessarily represent those of RFG Advisory, its employees, or its clients. This commentary should not be regarded as a description of advisory services provided by RFG Advisory, or performance returns of any client. The views reflected in the commentary are subject to change at any time without notice.
Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, LLC (“RFG Advisory or “RFG”), a registered investment advisor. Private Client Services and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.
RFG Advisory is an SEC-registered investment adviser. SEC registration does not constitute an endorsement of RFG by the Commission, nor does it indicate that RFG or any associated investment advisory representative has attained a particular level of skill or ability.
A Statement of Financial Purpose serves as the mission statement for your client’s financial life.
It acts as the north star or lens for making financial decisions to ensure they are aligned with what’s truly most important.
Most advisors love the idea, but they don’t know how to do it.
Fortunately, Andy Baxley created an entire course on it.
And, in this episode, he reveals the 3-step process he takes his clients through to craft a statement of financial purpose.
You’ll Learn:
*Follow Brendan for insights on mastering the human side of advice:
The growth of your business hinges on your ability to build and establish trust with prospective clients.
In this episode, Kerry Johnson, “America’s Business Psychologist” reveals psychological insights on how to master the art of trust-based selling.
You’ll Learn:
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.
*Follow Brendan for insights on mastering the human side of advice:
Love and money are two emotional subjects on their own.
And one HIGHLY emotional subject when combined together.
Next time you meet with a couple, think about these numbers:
Money is an emotionally-charged topic that you simply can’t avoid in a relationship.
In this episode, Dr. Sonya Lutter provides a guide for everything advisors need to know when it comes to working with couples.
You’ll Learn:
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.
*Follow Brendan for insights on mastering the human side of advice:
The intro meeting is the lifeblood of an advisory business.
It’s either the single most expensive or the single most profitable activity that you’ll ever engage in.
Yet, almost everything you’ve been taught about how to conduct these meetings is backwards.
It contradicts everything psychology research tells us that a prospect needs.
In this episode, we’ll look at five things you’ve never been taught but HAVE to know to conduct the ultimate intro meeting:
*The Ultimate Intro Meeting Course –> Go Here
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
*Follow Brendan for insights on mastering the human side of advice:
The combination of financial psychology and technology has a multiplier effect on client outcomes.
Advisors who effectively integrate both into their practice see significantly higher levels of:
But, before you get these outcomes, you have to know how to effectively combine the two.
Fortunately, Emily Koochel pioneered this research and provides a roadmap for advisors to combine financial psychology with technology on the path to transforming their client outcomes.
You’ll Learn:
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:
More important than what questions you ask is how you ask them.
In this episode, shares 8 proven ways to ask better questions that lead to better answers, conversations, and relationships.
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.=
*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:
Three important questions every advisor should answer:
If you answered yes to any of these questions, then here’s the harsh truth you need to hear:
Getting prospects to become clients requires more than expertise. It requires persuasion.
And if you can learn to persuade more effectively, then your life-changing impact will be greater and more widespread.
In the popular book Influence: The Psychology of Persuasion, Robert Cialdini presents research on six psychological principles to persuade prospects to become buyers.
Fortunately, Evan Beach took the research from the book and created a version specifically for financial advisors.
In this episode, he’ll reveal how financial advisors can use influence techniques to persuade more prospects to become clients.
You’ll Learn:
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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