63 episodes

The Human Side of Money delivers actionable ideas and strategies to equip financial advisors with the skill set they need to master the human side of money.

Whether you've been providing financial advice for 40 days or 40 years, it's evident that technology is shifting your value away from simply picking investments and providing financial plans.

The future of advice will hinge on your ability to guide clients through the process, unearth their values and emotions around money, and ultimately, change their behavior for the better.

Join your host, Brendan Frazier, as he interviews fellow financial advisors, industry consultants, and experts in the fields of behavioral finance, psychology and communication as they share everything you need to know to master the human side of money!

The Human Side of Money Brendan Frazier

    • Business
    • 4.8 • 57 Ratings

The Human Side of Money delivers actionable ideas and strategies to equip financial advisors with the skill set they need to master the human side of money.

Whether you've been providing financial advice for 40 days or 40 years, it's evident that technology is shifting your value away from simply picking investments and providing financial plans.

The future of advice will hinge on your ability to guide clients through the process, unearth their values and emotions around money, and ultimately, change their behavior for the better.

Join your host, Brendan Frazier, as he interviews fellow financial advisors, industry consultants, and experts in the fields of behavioral finance, psychology and communication as they share everything you need to know to master the human side of money!

    A Toolkit To Change Client Behavior And Improve Follow-Through of Advice

    A Toolkit To Change Client Behavior And Improve Follow-Through of Advice

    The job of a financial advisor and planner isn’t simply to dispense the advice, pat yourself on the back, and walk away as if your job is done.
    It’s to help the client follow through on your advice.
    Ensuring they implement and execute the items you’ve laid out that solve their problems and achieve their goals.
    The reality is that getting clients to actually follow through and implement the advice you give without constant follow-up is hard.
    There are several possible explanations.
    But, one of the most prominent culprits is a psychological barrier inherent within the very nature of financial advice.
    The battle between the current and future self.
    In this episode, you'll learn:
    Why the current versus future self is such a powerful force A strategy to counter the battle between the current and future self 9 simple and effective ways to use this strategy everyday with clients  
    *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, check out www.wiredplanning.com/episode61.
    *For more resources and insights on mastering the human side of advice, go to www.wiredplanning.com.
    *Follow Brendan for insights on mastering the human side of advice:
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    • 53 min
    Using Money To Accumulate Happiness Rather Than Wealth with Chris Budd

    Using Money To Accumulate Happiness Rather Than Wealth with Chris Budd

    Money and happiness will forever be intertwined, specifically the relationship between the two.
    While money may not be able to buy happiness, it can certainly influence it.
    And, when you're working with people and their money, you have the opportunity to help them use their money in a way that accumulates happiness rather than just simply accumulating wealth.
    Of course, that first requires a deeper understanding of happiness.
    Not only what it is, but the components that contribute to happiness, and how money can either increase or decrease it.
    Fortunately, Chris Budd runs an organization focused on helping advisors and planners understand what clients actually want from their money.
    And, he explains what advisors need to know in order to help clients become happier and more fulfilled, not just wealthier.
    In this episode, we discuss:
    Why the worst first question is: "What does money mean to you?" The "un-training" every advisors needs to improve relationships When he realized clients didn't actually want to talk about money The "financial wellbeing junkie" conversation to have with every client The ways to spend money that create long-term happiness  
    *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, check out www.wiredplanning.com/episode60.
    *For more resources and insights on mastering the human side of advice, go to www.wiredplanning.com.
    *Follow Brendan for insights on mastering the human side of advice:
    Twitter
    LinkedIn

    • 1 hr 27 min
    Tools For Discovering And Changing A Client's Money Mindset with Rick Kahler

    Tools For Discovering And Changing A Client's Money Mindset with Rick Kahler

    Money decisions are never just about money.
    Research tells us that about 90% of all financial decisions are made emotionally, not logically.
    Decisions driven by our mind rather than our money.
    And every financial behavior, even if it appears illogical, makes perfect sense once you understand the underlying beliefs, feelings, and thoughts that accompanied the decision.
    These beliefs, feelings and thoughts form your money mindset.
    And every current and future client you work with is programmed with their own money mindset driving all of their decisions.
    Fortunately, Rick Kahler is one of the pioneers in this space and shares from his own experience working with clients the latest tools and research to help you discover and change your client's money mindset.
    In this episode, we discuss:
    Why there is no such thing as an illogical behavior The three exercises he uses to explore clients' money beliefs Why asking questions kills conversational flow A powerful conversational tool to replace asking questions Why you can't best serve your clients until you do your own work *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, check out www.wiredplanning.com/episode59
    *For more resources and insights on mastering the human side of advice, go to www.wiredplanning.com.
    *Follow Brendan for insights on mastering the human side of advice:
    Twitter
    LinkedIn

    • 1 hr 22 min
    The Advisor's Guide To Money And Behavior with Dr. Brad Klontz

    The Advisor's Guide To Money And Behavior with Dr. Brad Klontz

    Whether you've been an advisor for four days or four decades, you know that your client's success has just as much to do with their mind as their money.
    It's simply not enough to run through monte-carlo simulations and construct diversified portfolios.
    And you know it's critical for you to be able to understand your client's psycholgy and behaviors around money.
    But, the challenge lies in knowing how to apply pyschology to real-life client scenarios.
    Fortunately, Dr. Brad Klontz is one of the foremost authorities on financial psychology and works with advisors and planners to do just that.
    In this episode, we discuss:
    How our genetics have programmed us to fail with money The importance of knowing your client's "Money Scripts" The way he communicates the role of financial psychology to clients and prospects Why he lets clients decide if they want financial psychology The one technique every advisor needs to change client behavior *The featured partner for this episode is Knudge, an automated system to help clients follow through on their tasks and reach their financial goals.
    *For more resources discussed in this episode, check out www.wiredplanning.com/episode58
    *For more resources and insights on mastering the human side of advice, go to www.wiredplanning.com.
    *Follow Brendan for insights on mastering the human side of advice:
    Twitter
    LinkedIn

    • 1 hr 39 min
    The Trust Formula: How To Consistently Build Trust With Clients and Prospects With Mary Schmid

    The Trust Formula: How To Consistently Build Trust With Clients and Prospects With Mary Schmid

    Trust is the foundation of success in financial advice.
    According to research from Vanguard, there are countless business benefits that stem from creating trust:
    Higher satisfaction with an advisor Higher likelihood of referring an advisor Higher likelihood of consolidating assets Higher likelihood of following advice Other research has found that trust is the #1 characteristic clients look for in a financial advisor.
    But how can you quickly instill trust into the conversation with a prospective client?
    How can you consistently build trust throughout your relationship with a current client so they refer more and follow your advice?
    Mary Schmid will explain how to conduct conversations that quickly and consistently build trust with clients and prospects.
    In this episode, we discuss:
    Why conversations send our brains into "Connect" or "Protect" mode The conversational techniques to get someone into "Connect" mode Why you should never talk about the weather The trust-building power of using an agenda in meetings The trust-eroding mistakes we make and never realize *The featured partner for this episode is Knudge, an automated system to help clients follow through on their tasks and reach their financial goals.
    *For more resources discussed in this episode, check out www.wiredplanning.com/episode57
    *For more resources and insights on mastering the human side of advice, go to www.wiredplanning.com.
    *Follow Brendan for insights on mastering the human side of advice:
    Twitter
    LinkedIn

    • 1 hr 38 min
    10 Insights To Master The Human Side of Advice

    10 Insights To Master The Human Side of Advice

    Every single advisor and planner recognizes the importance of the human side when working with people and their money.
    And every single advisor and planner wants practical, tangible ways to embed it in their practice.
    After exploring the human side of money with 50 of the brightest minds on behavior, psychology, communication and money, I wanted to help make it as practical as possible.
    Consider this the training that every advisors needs but never received in any training, designation, or certification.
    Hear are the top 10 insights and ideas from those 50 conversations that you can apply tomorrow.
    *For more resources discussed in this episode, check out www.wiredplanning.com/episode56
    *For more resources and insights on mastering the human side of advice, go to www.wiredplanning.com.
    *Follow Brendan for insights on mastering the human side of advice:
    Twitter
    LinkedIn

    • 56 min

Customer Reviews

4.8 out of 5
57 Ratings

57 Ratings

Mydogsnameisbel ,

What I’ve been looking for!

I always felt like there was a dynamic of my client meetings that was missing. When I first learned of the psychology of money, I discovered where the disconnect was. However, I didn’t know how to incorporate it until now.

Since I started using the tools and tips outlined in some of these podcast, I have seen a true connection between myself and the client.
Besides having a higher closing ratio, I have shortened the gap between my first meeting and closing meeting; sometimes within the first meeting!

whinder1 ,

Just listen!

Behavioral finance plays such a role in planning these days and Brendan does a great job of breaking it down with his guests, 5 stars

BillyCuth ,

One of the BEST FA podcasts out there, period.

Understanding the human side of money is so critical to building trust with clients and trust is the key to success. Technical skills are table stakes. People skills are the difference maker. As an introvert, I struggle with initiating contact with other humans. The episodes on mindset have been transformative. Re-writing the stories we tell ourselves - huge. Beyond that, recognizing the stories clients share with us because of well placed questions ultimately lead to much better satisfaction in the advisor client relationship, which leads to better outcomes for everyone. The work Brendan is doing is so important and much appreciated.

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