In an article originally published by the New York Times, MQ colleagues Sara Asabedo, Rick Kahler, and Megan McCoy share insight into strategies for coping with concerns about inflation, uncertainty, and other money worries. They also discuss how to converse about these issues with family members. “ … [if] you know that you should be […]
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Herman Brodie – The Power of Trust
In this hour-long podcast, Dr. Daniel Crosby speaks with author Herman Brodie (The Trust Mandate, 2018) regarding topics such as how advisors can strengthen their clients’ trust, and the low ratings that financial planners have experienced on the Edelmen Trust Barometer. “The issue is … the awareness of the kind of person I have in […]
Tactics for Asking Good Follow-Up Questions
Insight from initial interviews and conversations rarely provides truly useful information, as responses tend to be accepted without question while topics change quickly. However, there are valuable ways to dig deeper and learn more through proper follow-up questions. “Ask a follow-up that will help you really uncover what you are seeking to learn. Be curious, and […]
The Human Side of Money Ep. 55: Infusing Life Into The Financial Planning Process with Tim Maurer
In this episode of The Human Side of Money podcast, Tim Maurer discusses various methods and the obstacles advisors can run into when generating meaningful conversations with clients. He also notes his relationship with MQ’s Amy Mullen and Carol Anderson. “There’s something in our wiring as financial advisors that tends to prefer deferred gratification over […]
Why You Shouldn’t Be Afraid to Ask Sensitive Questions
Asking the right questions at the right time is a complex task, especially when they may concern personal responses. In this interview, professors Einav Hart, Maurice Schweitzer, and Eric VanEpps share results of their research and discuss their paper, “The (Better Than Expected) Consequences of Asking Sensitive Questions.” “We’re finding that people consistently err on […]
The Human Side of Money Ep. 54: Helping Clients Achieve Life Money Balance with Dr. Preston Cherry
In this hour-long podcast, Dr. Preston Cherry, CFT-I™ stresses that a client’s alignment with money is far more important than their accumulation of it, offering that it is more important to “let your life lead your money, not your money lead your life.” “You have to consider people’s preferences within their capacity. If they have […]
The Human Side of Money Ep. 53: The Psychology of Decision-Making in Financial Planning
In this podcast, psychologist and researcher Hal Hershfield addresses the psychology of long-term decision making, and discusses the relationship between who we are now and who we will become later. “Helping clients bridge the gap between their current and future selves by creating a vivid, exciting and hopeful future will result in … better outcomes […]
Separating “Needs” from “Wants” Could Be Harming Your Financial Planning
Behavioral economist Sarah Newcomb, Ph.D., argues “our wants and wishes are really needs as well,” and that accepting this can help to combat scarcity mindsets, lead to more meaningful uses of money, and result in more fulfilling, happier lives. “… You have to add up both the financial and the nonfinancial costs and benefits. What […]
The Human Side of Money Ep. 49: Leveraging The Superpower Of Questions
The ability to ask great questions can strengthen bonds with relative strangers, and help to uncover details of their lives, thoughts, and feelings. In this podcast, MQ Retreat speaker Dr. Meghaan Lurtz explains how to unlock this very useful “superpower.” “We want the other person to be talking. It’s about figuring out those questions, so […]
How Financial Planners Can Support Behavior Change
A lack of self-confidence in a client’s own abilities can result in “self-sabotaging money beliefs and behaviors.” The most recent MQ Blog addresses the concept of self-efficacy, its character-istics, and strategies for its practical application. “Financial planners who wish to help their clients implement better financial behaviors should not ignore the potential power of promoting […]