By Howard Pressman, CFP®
Have you ever given financial advice to a client, only to have them do something different, maybe even something that goes against their financial wellbeing? Or what about this: you met with a prospective client, delivered some of the best advice you’ve ever given and presented a solid financial strategy based on their goals? The clients said all the right things and gave every indication that they want to start a relationship with you. They leave your office and you’re breaking your arm off, patting yourself on the back and thinking to yourself how you knocked this one out of the park. Then a week goes by and another and you have yet to hear back from this client. It’s as if the Earth opened up and swallowed them, as they’re harder to find than Waldo. What happened, you think to yourself.
We all know that people often make decisions that run counter to their best interests. Even when we lay out the basics for them, sometimes clients make the wrong financial decisions. Perhaps you look inside yourself for answers or maybe you just chalk it up to the clients not being serious about getting help. But is there a way for us to communicate with our clients and prospects on a different level? A level on which they are more likely to act on our recommendations?
Ted Klontz, PhD is a researcher, speaker, trainer and the author of six books including his most recent, Mind Over Money. Ted has also been a guest on “The Judds” which airs on the Oprah Winfrey Network. In his presentation “When Logic Leaves the Room: How Financial Decisions Are Really Made, And What We Can Do About It” Ted will help us to better understand and identify this behavior and teach us how we can help our clients to make better decisions. Ted will show us how the brain influences decision making, discuss the most current research on the topic and share best practices that will help us interact with our clients on this higher level. Ted will also share with us the fascinating results of his survey on our subconscious “money beliefs”, which influence many of our money decisions. Please be sure to take this anonymous survey before November 1st by clicking here.
If you are looking to improve your communications and relationships with clients and prospects, please join us on November 7th at Bethesda Country Club at 10:00am where in addition to Ted, Chris Hennessy will be talking about Healthcare Reform and its impact on investors. Three CFP, CIMA, MD and VA Insurance approved, and CPA CPE offered.