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…mehr
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.
As a third generation entrepreneur, Chris White grew up with a strong sense of vision and drive to build businesses with great impact. In his 25+ years of experience, Chris successfully built four companies, but says his journey took a massive turning point when, at 44, he discovered his unique ability through the Entrepreneurial Operating System®. He now passionately pursues radically candid conversations with a relentless drive to mastery (and plenty of fun along the way) as he coaches his clients through the EOS® process. As a Certified EOS Implementer®, Chris has helped over 140 companies gain skills that transform their businesses and now coaches other EOS Implementers® on their own path to mastery. Outside of his EOS® practice, he founded and hosts the Tractionville¿ podcast and was also a co-founder of the EOS® software, Ninety.io. Chris lives in Orlando, FL with his wonderful wife Darlene. Connect at TractionFlorida.com
Inhaltsangabe
Foreword by Bill Griffeth Preface Acknowledgments Introduction Part I How Human Psychology and Client Emotions Drive Investor Behavior and Decision-Making Chapter One Understanding a Person's Emotional Template Chapter Two The Psychology of Money and the Emotions of Investing Chapter Three Introducing a Conversational Model You Can Use with Clients Part II Client Relationship Management Chapter Four Understanding Your Client's Engagement Style Chapter Five Heroes Rising: The Different Types of Clients That Emerge in High-Stakes Situations Chapter Six Advising Clients Who Are Fixers Chapter Seven Advising Clients Who Are Survivors Chapter Eight Advising Clients Who Are Protectors Part III Nurturing Client Relationships for the Long Term Chapter Nine Establishing Credibility and Building Trust with Clients of Any Type Chapter Ten On Stewardship and Servant Leadership Epilogue Appendix A: Thinking, Fast and Slow: The Differences in Two Philosophies of Trading Appendix B: Applying Principles of Behavioral Finance to Understanding the Ups and Downs of Stock Prices Notes Bibliography Index
Foreword by Bill Griffeth Preface Acknowledgments Introduction Part I How Human Psychology and Client Emotions Drive Investor Behavior and Decision-Making Chapter One Understanding a Person's Emotional Template Chapter Two The Psychology of Money and the Emotions of Investing Chapter Three Introducing a Conversational Model You Can Use with Clients Part II Client Relationship Management Chapter Four Understanding Your Client's Engagement Style Chapter Five Heroes Rising: The Different Types of Clients That Emerge in High-Stakes Situations Chapter Six Advising Clients Who Are Fixers Chapter Seven Advising Clients Who Are Survivors Chapter Eight Advising Clients Who Are Protectors Part III Nurturing Client Relationships for the Long Term Chapter Nine Establishing Credibility and Building Trust with Clients of Any Type Chapter Ten On Stewardship and Servant Leadership Epilogue Appendix A: Thinking, Fast and Slow: The Differences in Two Philosophies of Trading Appendix B: Applying Principles of Behavioral Finance to Understanding the Ups and Downs of Stock Prices Notes Bibliography Index
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