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Description
While most financial advisors function solely as money managers for their clients, think2perform's Behavioral Financial Advice program elevates your role with clients, establishing you as a trusted, highly valued partner. Learning and applying the principles of think2perform's Behavioral Financial Advice program helps you deepen client relationships with professional and financial consultation that moves beyond a product focus to effectively influence the spending and saving behavior of your clients – the most important factor in portfolio growth. By integrating traditional finance practices with psychology, neuroscience and behavioral finance our Behavioral Financial Advice program improves emotional competency and decision-making behavior to increase effective usage of the financial plan for you and your clients. Deliver outstanding service with a measurable impact, thinks2perform's Behavioral Financial Advice program shows you how.
Learning Objectives
Define Behavioral Advice. Explain why Behavioral Advice is in our future and how it fits into the financial planning process. Describe the Smart Money Philosophy. Describe the difference between Emotional Intelligence and Emotional Competency. Describe the difference between Moral Intelligence and Moral Competency. Identify the six behavioral competencies that impact client portfolio performance. Examine your current level of stress, how it impacts your behavior and how to manage common stressors. Describe how stress impacts decision-making and performance. Explain the physiological phenomena that leads to decision-making mistakes and flawed thinking patterns. Identify the types of psychological phenomena that can lead to decision making mistakes. Describe the alignment model and how it applies to decision-making and performance. Identify your top five values and explain how values impact decision-making. Evaluate strengths and areas of improvement based on the results of your Emotional Competence Inventory (EQ-I). Use the alignment model to identify goals by differentiating between your "Real Self" and your "Ideal Self" based on values. Recognize life situations when application of the 4Rs will improve decision making. Explain recognizing as it relates to the 4 R's. Explain reflection as it relates to the 4 R's. Explain reframing and responding as it relates to the 4 R's. Behavioral Financial Advice and Your Clients Explain behavioral advice concepts in your own words. Identify the behavioral advice guidelines in a scenario. Demonstrate to the client how to obtain their top five values using the Values Card Deck. Demonstrate how the client can use the alignment model in their lives. Analyze how values impact a client’s decision-making. Describe the Smart Money Philosophy to your clients. Develop with a client their plan to deal with the certainty of uncertainty. Explain the 4R’s to a client to increase the client’s emotional and moral competence. Apply the questioning technique/template to a scenario. Execute the BA philosophy given specific client scenarios. Execute the BA tools given specific client scenarios.