Advice That Sticks: How To Give Financial Advice That People Will Follow
- 4h 54m 25s
- Moira Somers
- Recorded Books, Inc.
- 2021
The advice is sound; the client seems eager; and then...nothing happens! Too often, this is the experience that financial professionals encounter in their daily work. When good recommendations go unimplemented, clients' well-being is compromised, opportunities are lost, and the professional relationship grows strained.
Advice That Sticks takes aim at the problem of financial non-adherence. Authored by a neuropsychologist and financial change expert, this book examines the five main factors that determine whether a client will follow through with financial advice. Individual client psychology plays a role in non-adherence; so, too, do sociocultural and environmental factors, general advice characteristics, and specific challenges pertaining to the emotionally loaded domain of money. A great deal of non-adherence is due to preventable mistakes made by financial professionals and their teams.
The author integrates her extensive clinical and consulting experience with research findings from the fields of positive psychology, behavioral economics, neuroscience, and medicine. What emerges is a thoughtful, funny, but above all practical guide for anyone who makes a living providing financial advice. It will become an indispensable handbook for people working with clients across the wealth spectrum.
In this Audiobook
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Chapter 1 - The Value of Advice That Sticks
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Chapter 2 - Why People Seek Advice
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Chapter 3 - A Curse, a Plague, and other Problems Caused by Advisory Teams
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Chapter 4 - The Peculiarities of People and Finances
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Chapter 5 - What Makes Some Advice Harder to Take Than others
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Chapter 6 - Client Characteristics (Part 1): Working with the Horse You've Got
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Chapter 7 - Client Characteristics (Part 2): How to Help When Life Packs a Wallop
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Chapter 8 - Under the Influence: Social and Environmental Contributors to Adherence
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Chapter 9 - Some Final Thoughts
