Planning & Monitoring: The Obvious Wealth Factor We Love to Ignore

In pop psychology and social media, there seems to be more interest in money personality than in financial behaviors when it comes to talking about the things that will have the greatest impact on how successful we are at accumulating wealth. Who doesn’t love a one-question quiz that asks you about your favorite color and then gives you a report telling you you’re a terrible investor because you like magenta? Tests like the Myers-Briggs Type Indicator[…]

Structuring The Getting to Know You Process

Imagine that you can ask your prospective client only two questions before deciding if they are a good fit for your practice. What would you ask, and why? The statement above is an example of a structured interview question. Structured interviews are a systematic way to get to know a client, applicant, or other new colleague that links interview questions to topics or competencies that are critical to understand at the beginning of that relationship.[…]

Beware the Inferential Leap From a Single Data Point

If you are trying to understand the complex underlying personal characteristics of your client, a potential employee, or even yourself, it goes without saying that you need a good tool (i.e., a good assessment) to measure these not-so-obvious personal features. This is the heart of psychometrics: the science of measuring individual differences (that is, our unique personal characteristics). Typically psychometrics involves gathering multiple responses related to a characteristic to ensure you’re really measuring what you[…]

Assessments in The Client Experience

How should you decide on what tests to include in your client experience? Here are a few things to consider. Understand what the test measures and its intended purpose. This should be made clear by the test provider. Is it really measuring risk personality, or risk preferences? Is the test measuring personality or attitudes? Understanding what the test measures helps you in determining which assessment is appropriate for your practice, but also allows you to explain[…]