An invaluable resource for wealth managers advising individuals,
couples, and families, this book explains why human emotions drive
all investor behavior and makes a powerful case for why advisors
need to be aware of such emotions in advising clients-especially in
high-stakes situations. Despite the fact that wealth advisors may
employ algorithms, fancy financial models, economic theory, and
predictive reasoning to forecast future investment returns,
according to seasoned wealth management advisor Chris White,
people-in other words, clients-basically decide how much risk to
take with their money based on emotional factors such as the love
they received as children, early life experiences of loss and
"imperfect love," psychic wounds, and family traumas. A must-read
for anyone in the wealth management profession, including wealth
advisors, financial consultants, certified financial analysts, and
retirement advisors, this groundbreaking book offers a radically
new and well-articulated framework for managing relationships with
clients as well as the essential tools to advise, mentor, and guide
clients in making financial management decisions. Readers will
understand how to recognize the emotional and psychological factors
behind investor behavior and apply this insight to be a better
wealth advisor. The author explains why early childhood experiences
of love, joy, and loss and sometimes very subtle family dynamics
play a key role in adult investor behavior; why being sensitive to
an individual's unique psychological "systems" is key to being able
to accurately assess his or her tolerance and acceptance of
risk-taking as part of the wealth management process; what can
cause a client's personality to change, especially in high-stress
or high-stakes situations; and how to employ sophisticated client
relationship management practices such as curiosity, appreciative
inquiry, and powerful questioning to understand clients' needs at a
deep psychological level. Outlines a powerful and insightful client
management approach that wealth advisors and financial consultants
can use to build stronger, more enduring relationships with all
types of clients Highlights effective strategies that advisors can
use to advise their clients, especially in high-stakes situations
of market volatility or economic uncertainty Enables financial
advisors to understand the subtle emotional factors and hidden
human psychology that drive all investing and wealth management
discussions and decision making Provides insights distilled from
more than 20 years of experience in wealth management
General
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