We kick off our Behavioral Finance Week with a talk with Brad Klontz, financial psychologist, author, and Managing Principal of Your Mental Wealth Advisors. Brad’s most recent book, Money Mammoth, dives into the psychology behind money wins and money missteps.

After graduating with his doctorate, Brad lost everything in a stock market scheme to pay off student debt. While attempting to process this colossal mistake, Brad quickly realized that the mental health community was largely ignoring people’s No. 1 stressor – money. So Brad wrote his own literature, built his own coursework, and now spends his time giving financial planners the tools they need to crack their clients’ psychological blocks.

In this conversation, Brad talks with Jamie about his personal financial history, the impact of early money memories, and what most financial planners get wrong.

Join us for our Behavioral Finance Week – daily episodes about the connection between psychology and money. These concepts can help financial advisors plan more accurately and sustainably for their clients. Tune in every day this week for a new episode!

(15:10) “The more conscious we can become of those beliefs and of those early experiences, the more power we have in our life to get what we want.” ~ @DrBradKlontz

Main Takeaways

  • Financial attitudes and behaviors are often unconscious and the results of early experiences with money.
  • Becoming aware of financial beliefs is the key to solving them and winning with money.
  • Pushing people too hard to make good financial decisions may actually decrease the likelihood that they follow your advice.
  • Let your clients explain their reasoning and honor their desires.

Links and Important Mentions

Transform the Way You Grow Your Firm at Excell 2021

Whether you’re just starting out in the industry or you manage a billion-dollar firm, Excell 2021 is for you.  As one of the largest conferences in the industry, we have a full slate of development opportunities for you and your entire team. Hear from Carson Founder and CEO Ron Carson, best-selling author John DiJulius, Nerd’s Eye View’s Michael Kitces, Framework Host Jamie Hopkins, and plenty more.

Join us October 12-14, 2021, in Las Vegas, or register for our digital-only conference. Register today at https://excellconference.com.

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