Title: An Advisor's Role as Behavioral Coach
Headings: An Advisor's Role as Behavioral Coach
An Advisor's Role as Behavioral Coach
Key Takeaways
Behavioral Finance
Market Volatility & Returns
Where Advisors Add Value
The Power of Listening
Differentiating Yourself
The Bottom Line
Article Sources

Content: Differentiating Yourself
In the face of downward fee pressure and the commodification of traditional advisory practices, advisors are increasingly trying to add new services to their toolkit. Enterprising advisors use services like behavioral coaching to then help clients navigate life decisions, such as where to retire to, from both a values-oriented and a financial standpoint. For example, while it might make financial sense to relocate to a lower-cost area of the country, will your client really be happy living far from her friends and family? Advisors who integrate their clients’ values and nonfinancial concerns with their financial plans will increasingly have a leg up on other advisors who are more one-dimensional. This approach can help you achieve client buy-in and deepen their commitment to the financial plan that you construct with them. The Bottom Line
Money is about more than dollar signs. A financial plan needs to be tied to a client’s emotions and values in order to resonate. Advisors who understand this dynamic are better able to manage their clients’ money behavior to their long-term financial benefit. Article Sources
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