Advisors: Role Expansion to Coaching

Family/marital issues, health issues, grief, religion: just a few of the non-financial topics that advisors work through with their clients. A few years ago, a large-scale study of advisors yielded a wealth of information on the evolving role of financial advisors as coaches (Dubofsky & Sussman, 2009). The research, which included approximately 1,400 advisors associated with either the FPA or CFP board, highlighted the topics, challenges, and critical incidents faced by advisors related to non-financial issues.[…]

Consumption: Full Speed Ahead?

If part of your work involves educating others on how consumption can affect their ability to build and maintain wealth, looking for outside patterns of data and trends might be a way to bring an “ah-ha” moment to clients, children, friends, or family members. A string of articles in yesterday’s Wall Street Journal wove an interesting pattern for me, and the interpretation might prove educational for consumers and clients. First, this: Holiday Shoppers Were in[…]

Advisors: Transactional or Transformational

Leaders tend to fall somewhere on the “transactional-transformational leadership” spectrum. A transactional leader typically uses the exchange of rewards for performance and focuses on keeping everyone in line in order to meet his and the organization’s goals. The transformational leader, on the other hand, focuses on the intrinsic needs of team members, motivating performance by ensuring the interests and goals of the team members and the organization are aligned. The transformational leaders I’ve worked with believe[…]