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14: Moira Somers | The Importance of Giving Advice That Sticks (Part One)

14: Moira Somers | The Importance of Giving Advice That Sticks (Part One)

FromThe Human Side of Money


14: Moira Somers | The Importance of Giving Advice That Sticks (Part One)

FromThe Human Side of Money

ratings:
Length:
61 minutes
Released:
Jan 19, 2021
Format:
Podcast episode

Description

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
Released:
Jan 19, 2021
Format:
Podcast episode

Titles in the series (100)

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!