39: A Masterclass In Excelling At The Human Side Of Advice with Carl Richards

The Human Side of Money

Nov 24 2021 • 1 hr 18 mins


Carl Richards has a mantra for financial advisors that he says changes everything once you can fully internalize it:

"Financial advisors are guides in a changing landscape. Not the defenders of an outdated map."

It's no longer enough for advisors to build a detailed financial plan or construct a portfolio.

It's about building trust and connection with clients, unearthing their values and emotions around money, and changing their behavior for the better.

It's about the human side of advice.

And, if you're looking to excel at the human side of advice, there is no one better than Carl Richards.

We discuss:

  • The two main things he's learned over the years that he would go back and tell himself when he was an advisor
  • Why understanding a client's purpose is at the foundation of the work advisors do for their client's
  • The difference between purpose, values, and goals and what it looks like in the planning process
  • How to effectively help clients develop and prioritize goals
  • Using a "Statement of Financial Purpose" in the planning process
  • The best approach to handling an objection I've ever heard

*For more resources discussed in this episode, check out www.wiredplanning.com/episode39.

*For more resources and insights on mastering the human side of money (including our popular "Wisdom Round-Up" email), go to www.wiredplanning.com.