There’s more to a successful financial advisory relationship than providing good advice.
For the relationship to be successful, clients must act on that advice. Today on the Becoming Referable podcast, Dr. Moira Somers helps us dive into the clients’ heads to understand what goes into acting on that advice – or not.
Moira is a consulting psychologist, professor, executive coach, and best-selling author of the book Advice that Sticks: How to Give Financial Advice that People will Follow.
Through her work in medicine as well as extensive experience in the financial services industry, Moira has fantastic insights into the mental obstacles for clients in adhering to advice. In our conversation we cover those obstacles and how advisors can help clients overcome them, leading to stronger relationships built on trust and understanding, and of course, more referability for the advisor.
You’ll hear us talk about the ‘curse’ of knowledge, societal factors affecting gratification and impulse control, primary drivers of motivation, and ways for advisors to gain a deeper understanding of clients’ needs, behaviors and thought patterns in order to guide them to make better decisions. We get right down to do’s and don’ts in conversations with clients, and the kinds of questions that can lead to more engaging and productive meetings.
It’s a healthy dose of psychology applied to our world, and we think you’ll appreciate Moira’s expertise as much as we did.
Editors’ Choice: Why These Articles Were Great!
11 Most Read IRIS Articles of the Week!
4 Ways to Find Your Prospect’s Biggest Pain Points
MyPerfectFinancialAdvisor and Why I Started It
Understanding Elder Law with Guest Geoff Hoatson
Leaders: Where There’s Smoke, There’s Not Always Fire
What You Need to Know About Senior Isolation
Transitioning from Business Ownership to Retirement
10 Key Components for Creating a Positive Company Culture
What is a Captive Insurance Agent
Development2 days ago
Changing Forward Means Silencing Your Inner Gremlins
Research2 days ago
Please Don’t Buy the Dip in Nvidia or Other Chip Stocks
Content Marketing2 days ago
3 Ways to Distinguish Yourself as an Advisor Using Only Your Blog
Permission to Succeed3 days ago
Setting the Standard of Care for Medical Cannabis with Nick Vita
Strategies3 days ago
Junk in the Trunk: The Story of Today’s Bond Market
Marketing3 days ago
4 Reasons Your Sales Team Isn’t Receiving Referrals
Development4 days ago
10 Tips For Recruiting Financial Advisors
Development4 days ago
Why Short Term Trading Is Not Investing