WEBVTT
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If clients are coming in and like something's on fire, we want to put the fire out first.
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And so to go in and like approach it with like a let's talk about your vision and values when something's on fire.
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Yeah, they're like, no.
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One of the fastest ways to probably lose a client, right?
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Is to not meet them where they are.
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That can be like the standard way of operating and doing.
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But if something's on fire, let's first meet them where they are and put the fire out.
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Welcome to Planning and Beyond, the show where financial planning meets human understanding.
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As an exceptional financial advisor, you know that financial planning is about more than just numbers.
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It's about giving clients the clarity they need to align their money with what matters most.
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Which is why each episode is designed with that goal in mind.
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You'll learn how to uncover the psychology behind client decisions and gain insights and behavioral strategies needed to create deeper, more meaningful client relationships.
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You'll discover techniques for navigating emotional client situations drawn from conversations with leading industry experts in behavioral finance, psychology, communication, and more.
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Whether it's mastering discovery meetings, handling sensitive client conversations, or understanding what is truly keeping your client stuck, you'll walk away with not only strategies that you can use in your next client meeting, but also the confidence to do so.
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Oh yeah, hi.
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I should probably introduce myself.
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I'm your host, Ashley Kwame, a therapist who somehow wandered into the world of financial behavior and kind of decided to stay.
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My mission is to help you bridge the gap between financial planning and human understanding.
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Because remember, finances don't have feelings, but your clients do.
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Let's dive in.
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Welcome to Planning and Beyond, the podcast where financial planning meets human understanding.
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I'm your host, Ashley Kwame, and today we have one of those episodes uh similar to ones that uh we've been releasing here with a about a monthly cadence, if I can remember correctly.
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But this is that time in our release schedule where we bring on an advisor to talk about how they are bringing the human side of planning into their work.
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So think about this.
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If any of you listen to Kitz's The Advisor Success podcast or many others out there, right, where we take a deep dive and kind of peek behind the curtains, how are advisors actually doing this and implementing this?
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This is that episode here today.
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And so I'm thrilled to have my guest, Amanda Delmonico.
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She is an advisor at Max Your Dash Advisors up in Rochester, New York.
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And we're here today to talk about behavioral assessments.
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Amanda, thank you so much for coming on the show.
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I'm thrilled to have you here.
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Thanks so much for having me.
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Yeah, absolutely.
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Yeah, it's gonna be a fun conversation because one of the things I really like talking about, which is assessments.
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But we're gonna talk about this from the advisor angle.
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Uh, as many of you know, listening, I'm not an advisor.
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I am a therapist coming from the mental health background.
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So while I have familiarity with utilizing assessments, I don't have familiarity with being an advisor and thinking through how do I want to integrate this into my firm.
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So I brought Amanda on here today to talk about how she does that, what does that look like, challenges, hurdles, all the juicy, yummy things that we're gonna get into.
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But first, Amanda, would you maybe mind taking a few moments to just share a little bit about your planning journey, how you got here, and then we'll just go from there.
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Sure.
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So, like so many elder millennials, I've had many different jobs, I've been in different industries.
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I became a financial planner about four years ago.
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So being kind of new to the industry and having kind of experience of adjusting to new positions and new roles.
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One thing that's always really helpful, it's just really immersing yourself in whatever industry you're in, right?
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So it's really learning a new language.
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And I remember early on reading about behavioral finance and just thinking this seems like it's gonna, it is so important and it's gonna be so important.
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So, kind of in addition, I my dad is a financial advisor.
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He just retired.
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So I've been I worked with him, took over his type of business.
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And, you know, he's had relationships with clients 20, 30, 40 years.
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So it's like, how do I walk into this and make an immediate impact and be able to hold meetings and you know, connect with people that he's been doing, you know, he's been doing this for so long.
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So I thought that part was really important.
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And I just wanted to make sure I was focusing on that side of things as much as the technical piece of it.
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Yeah, I appreciate that as someone who is also newer to the, I say newer at this point, it's four years, you know, almost five years into the finance industry, crossing over from the dark side, right?
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Of mental health and coming here.
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Like I can appreciate that mindset and perspective of like going all in and really just learning everything that you can and immersing yourself, as you said.
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Um and I think about just like with fresh eyes and like a fresh perspective, like how wonderful, probably also overwhelming too.
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I'm just thinking, working like with your dad, thinking about coming into like this business and seeing here, like how do we like want to work with clients?
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So I know that you are a money quotient user.
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Shout out, money quotient.
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I know that you're uh an MQ user as far as the you know, the assessments and the tools go.
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How I guess what was your thought process there?
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I'd love to know.
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Like, how did you get to like, okay, I'm interested in behavioral finance.
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This seems like interesting stuff, a way of interacting and engaging and being with clients.
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How did you get from like that kind of interest, curiosity, and thought to now I want to take action and bring this tool to our planning work?
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Yeah, great question.
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I think it was a couple things.
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I think the first was the advisors that I work with have one in particular partner of a firm, he kind of took me through, which I think was so helpful, the planning process that they do with clients, right?
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So I was a client and he's just a naturally curious person, asks a lot of great questions, is just does this naturally, but he's also had 15 years experience doing it.
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So I remember feeling like I want to feel like this as a client, but I also need some structure because I'm already learning so much and I can't just like memorize quite, you know, I was like, this, I need something more.
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And I think I heard Amy, I she might have been on Kidsys or something.
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So I heard her on a podcast talking about it.
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And I remember I had a call and I was, and I said, you know, I'm really new to the industry.
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I don't know if I should wait to do this training.
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She's like, in some ways it's not better, but it can be really helpful as you're developing your process.
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So I feel like a lot of the advisors that did the training, they're having to relearn a process.
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And for me, it's like I didn't have anything else to change or compare to.
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So in that sense, it was really nice to be able to learn that process and just implement it kind of right away as I started taking on new clients and even with existing clients.
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Oh, yeah.
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That makes a lot of sense.
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And similar, you know, when I was supervising pre-licensed clinicians, they would have an interest in a certain modality of therapy.
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And even like for myself, when I started out, I knew I wanted to work with couples, but I also know I love what you said there around needing some structure.
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Like, yeah, you know, I know what I know, I know kind of how I would like to be or even feel.
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Or as you said, I know what I want clients to feel, but I need a little bit of like structure on like how to like guide that conversationally.
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So I know for myself, like when I I had a similar feeling of I know that I want to work with couples and I need some type of structure or framework for how to do that.
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And went on to find like Gottman therapy and emotionally focused therapy that really helped create that structure, but allowed me to still be kind of myself within that.
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Yes.
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And it gives you like more freedom to do that because you feel kind of like, all right, I have this structure and I can, you know, instead of just like worrying about what am I gonna say, how am I gonna do it, right?
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You can kind of feel a little bit more free in a way.
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No, a hundred per 100%.
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Yeah.
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There's not that kind of in the back of my mind, like I would have pre-licensed clinicians talk about this like worry and kind of anxiety around what am I doing?
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What are my next steps?
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How do I know what to do next?
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You know, and so having a framework, having some structure there, you know, I'm not gonna say that it can completely eliminate that, but it does quiet down some of that noise, right?
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It does and I guess maybe I'm curious if that was the case for you, if you've found that like with having that structure with money quotient, some framework, if it kind of quiets down some of that noise of like, where do I go?
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What do I do?
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Certainly, especially I feel like with new clients, just because so many of my relationships are existing relationships from my dad or from the firm.
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And so that is just a different meeting than a brand new person, right?
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So I wasn't in a lot of brand new client meetings.
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So to do that on your own already feels intimidating.
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So having that, like, okay, this is what I'm doing.
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The first I was still, of course, nervous, but it's like you have that direction and you have that kind of safety of, okay, this is what the first meeting is gonna be.
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Let's just worry about this one and then the next one will come when it comes.
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Yeah.
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I no, I think that's I think that's fantastic.
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I'm thrilled to kind of hear that experience because it's similar.
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I know we're not here to talk about me and my experience, but like it is similar, it's validating, right?
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To have that.
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Let's maybe talk a little bit.
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So I know like within Money Quotient, they have a fantastic just library, is maybe the word that I would use.
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Library of assessments.
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And when we are working with firms like Beyond the Plane, we get asked a lot about assessments.
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What assessments should we use?
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Should which RTQ should we use?
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Which values assessment should we use?
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Or just there's so much out there, or advisors now even creating their own or wanting to create their own, you know, using Claw or some other type of chat, you know, AI tool, which I think is great.
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How did you, I guess, decide?
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Like, where do I start?
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You know, with this massive library, but even a bit more broadly, like, how did you think about where to start and what to start using when and how?
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Yeah, great question.
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I think money question is a really nice job of kind of teeing you up for like, okay, if it is a new client, here's a series of tools.
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You know, there's a financial life satisfaction survey, a transition survey that you can kind of use.
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And those they start, so it's just a one through five.
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So people aren't having to pour out their life story the first time you meet with them.
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It's just not appropriate.
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There's a sequence that really makes sense from the advisor standpoint and the clients.
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So I think they they really do a nice job of saying here are the kind of options.
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So, yes, there's so many different ones, but they're not saying like here's a hundred and you pick.
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So it's like for each kind of meeting for a new, if it's a new client, they kind of guide you with options of which ones to use, which I feel like is extremely helpful.
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And obviously with existing client, there's kind of suggestions for an annual review meeting, and then there's situations.
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So for if someone's wanting to do some more focused retirement planning, there's a sequence of tools for that.
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Someone's having issues with spending, you know, there's all different kinds of modules that you can use.
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And then of course, with any uh assessments that you're using or any framework, you end up kind of the more you use them, you can kind of decide like, oh, I actually think this would be good in this situation, even maybe if it wasn't suggested like that initially.
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But it's just kind of like learning music, right?
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Like you once you you first you're just learning how to read music, then you're, you know, and then it's like, okay, how can I really now make this my own?
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And I think that's true, whether you create your own tool, whether you're using something existing.
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I think that framework around taking your meeting type and thinking about is there a tool?
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Maybe it's a questionnaire tool, maybe it's an assessment, or maybe it's even just like one question that's kind of like standard.
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I like that because I think it can be overwhelming, right?
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Thinking about there's a lot of tools out there, things that I could do.
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And like, how do I even start thinking about organizing that in a way that makes sense, not just for me as an advisor with my processes, but also for my clients?
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And so it sounds like with money quotient, what you found helpful is looking at kind of these stages of where a client, where a client is.
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Did you start with like prospect or like where did you find that it was helpful to like start at when it came to implementing some of this?
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Yeah, I mean, I most things I just jumped right in and did it with, you know, my dad's like, I don't even know what you're doing.
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Like, I don't even know what training this is.
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He's like, now you're giving him questionnaires.
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I'm like, nice to meet you in here.
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But so it was like annual review meetings.
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So it's the what it was kind of the satisfaction, the life transition.
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And that it just got people to open up a little bit more, even for a lot of people who are like skeptical of it, it's still they shared a little bit more and made them think, and even simple things, like they were like, Oh, I didn't know I really could talk about, you know, whatever the topic was.
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And just by having that prompted, it opened them up.
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And then certainly with new clients, I've done the process now a handful of times and it it's the most enjoyable way to do it.
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And I've also kind of I've done it without using the, you know, whether it's money question or not, it seems like the process can stall when you aren't using like incorporating the behavioral part of it, right?
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So if you're just asking someone what their goals are, okay, I want to retire at 60, I want to travel more, okay.
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You build a plan around that.
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Like there's not enough meaning behind that, and a lot of people don't know what their goals are, right?
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So it's like, how are you gonna really get to that with them?
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And if you're not, the whatever plan you deliver, it just isn't gonna be as impactful.
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And they're probably not gonna act on the things that you're recommending if you're giving advice too soon.
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And people say they want that, but they really don't.
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It has to come from them.
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So I think that's what's like so powerful.
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Yeah, I listen, you are preaching to the choir here.
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I like want to throw my hands up and say amen.
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I love that.
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I want to know though, how because one of the things that we get asked too is how do you introduce this?
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And so, you know, I'm thinking about you like taking existing clients like from your dad, right?
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There's one way of like doing things.
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And look, I'm sure I have no doubts that your dad is a fantastic, like advisor things right, but like different, it's still different.
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It's just different, yeah.
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Tee your clients up.
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Like, what did you say for these, maybe existing clients?
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Because I think that's where if advisors are like, I want to start doing something different, they've already got existing relationships.
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Of course.
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Yeah.
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So what did you say to those clients as far as you know, we're having a different conversation?
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Like, how did you how did you communicate that to them?
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Yeah, I kept it really simple and I just said, hey, we're we're starting to incorporate new tools into our review process.
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They're really gonna help us frame our conversation.
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And I also want to make sure we're not missing anything, especially with like the transition.
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Like, we want to be proactive and looking at the next year coming up, and these tools are just gonna help us do that.
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So I I didn't like give a full, I don't know.
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I just try to keep it as simple as possible.
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And I find that it's like if you send things to people, they're probably gonna fill it out.
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You know, some people won't, of course.
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But in general, you go to the doctor, you fill out a form.
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Like, people are kind of used to that.
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So even though it was new, there wasn't an issue with people, which I was nervous, of course.
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I was like, I don't know if they're gonna even fill it out, but it's like they did.
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And then of course, everyone is different with how much they're gonna share.
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So for some people, it's just like, oh, it's good.
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And some people really were able to open up, but that's just natural, anyways, depending on who you're working with.
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Yeah, I think so too.
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And that's what we've found, right?
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Is that if we keep it simple, right, don't make it a big deal, just kind of speak to it.
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I love that framing there, that you the language you used of, you know, this is a tool that's gonna help us to have like better conversations, right?
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Or, you know, be able to look ahead, right, and just see what adjustments need to be made and all of that.
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I think if we just keep it simple, yeah, the clients like feel that and they're like, oh, like no big deal, right?
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Like, okay, this makes sense, right?
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It makes logical sense.
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You're using new tools and it's gonna help better me.
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And so gladly happy to fill this out.
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Yeah.
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And they, like you said, like they feed off of your energy.
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So if you're like, oh, I got some homework for you, you know, they're not gonna want to do it.
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But if you're just like, oh, it's they're quick and easy to fill out, take five minutes, less than five minutes, you know.
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Yeah, exactly.
00:17:16.160 --> 00:17:24.799
I'm curious, like, were there any challenges or hurdles to starting to implement assessments or just having these different conversations?
00:17:25.519 --> 00:17:26.079
For sure.
00:17:26.240 --> 00:17:29.440
I think, and you know, it's learning anything.
00:17:29.599 --> 00:17:40.559
Like, there was I had a particular client, he was very closed off, and he had just retired, and he really just didn't want to talk about how he was feeling about it.
00:17:40.799 --> 00:17:57.599
And I didn't push it, but it was like there's so there's, and again, that probably would have came up whether you're using an assessment or not, but just being really mindful of the job isn't to like get people to tell you as much as they it's like meeting them where they are, right?
00:17:57.680 --> 00:18:02.480
And it's like, but then I I do remember like the next meeting after that, he did open up a little bit more.
00:18:02.559 --> 00:18:04.559
So it's like you're also planting seeds.
00:18:04.640 --> 00:18:09.920
It's not like everything just happens because you're giving someone a value exercise or whatever the thing is.
00:18:10.000 --> 00:18:17.759
It's like they're starting to think about things differently, and maybe they'll come to you with a different question that they wouldn't have had if you didn't do it.
00:18:17.920 --> 00:18:23.680
So yeah, that I like the planting seeds, and you know, it's something, an analogy that I've used too.
00:18:23.759 --> 00:18:35.359
Sometimes like the work is just planting the seeds, giving them the idea or the invitation almost that you know, when you're ready, we can have a different conversation, or I'm here.
00:18:35.599 --> 00:18:41.759
And I've ran into my fair share of uh of uh clients who are pretty stuck.
00:18:42.000 --> 00:18:42.559
I'm sure.
00:18:42.640 --> 00:18:45.759
Yeah or move about things at a slower pace.
00:18:46.079 --> 00:18:46.640
Yes.
00:18:46.880 --> 00:18:51.519
And while professionally, like I'm very understanding and very patient.
00:18:51.920 --> 00:18:54.559
There's also a part of me that's like, come on, dude, hurry up.
00:18:54.640 --> 00:18:55.279
Like, open up.
00:18:55.359 --> 00:18:56.240
This is gonna be so great.
00:18:56.319 --> 00:18:57.680
Like, we're gonna have a great conversation.
00:18:58.640 --> 00:18:59.839
For meant to retire, we know.
00:19:00.000 --> 00:19:00.799
Let's talk about it.
00:19:01.039 --> 00:19:02.240
We know, let's talk about it.
00:19:02.400 --> 00:19:06.640
Like, and let's more than talk about it, let's also cry about it too.
00:19:06.960 --> 00:19:10.720
I know I'm a weirdo in in that.
00:19:11.519 --> 00:19:15.680
Um that is what I really, really just want so bad.
00:19:15.920 --> 00:19:18.720
Um, but patience, patience is key.
00:19:18.799 --> 00:19:30.960
And I really I like how you use this client as an example because I don't know, but I would imagine that there could be some people listening who do this and then they're like, oh, that didn't go well.
00:19:31.200 --> 00:19:38.079
So with that client in particular, we're not going to continue with this different approach.
00:19:38.400 --> 00:19:38.799
Yes.
00:19:39.039 --> 00:19:40.640
But you kept at it, right?
00:19:40.880 --> 00:19:42.079
Yeah, absolutely.
00:19:42.319 --> 00:19:42.720
Yeah.
00:19:43.039 --> 00:19:43.359
Okay.
00:19:43.759 --> 00:19:57.519
So if an advisor who is listening right now and they are curious about utilizing assessments or even maybe putting some structure framework to their meetings.
00:19:57.599 --> 00:20:04.559
Maybe that's the annual review meeting, maybe that's redefining a bit more of their discovery process.
00:20:05.039 --> 00:20:13.039
What are some practical tips or suggestions that you would give to an advisor or a firm who's trying to do this?
00:20:13.440 --> 00:20:30.559
Yeah, I think finding, you know, whether it's money, there's so many different modalities and assessments and tools and finding something that works, you know, like and having those calls, whether it's with the work that you're doing, and just depending on the firm and like, is this a firm-wide thing?
00:20:30.640 --> 00:20:31.920
Are you an individual advisor?
00:20:32.160 --> 00:20:36.000
I just think it's so important that you have to kind of connect with the method.
00:20:36.079 --> 00:20:38.480
I know some people use the value exercise card.
00:20:38.799 --> 00:20:41.839
You have to say, like, oh, that's something I can see myself doing, right?
00:20:42.000 --> 00:20:45.440
Because not everything is gonna work for every advisor.
00:20:45.759 --> 00:20:49.599
So I think, is there a way to like maybe you can experiment with something?
00:20:49.759 --> 00:20:52.559
Maybe you like, even if it's starting with one question, right?
00:20:52.640 --> 00:21:05.279
And just saying, I'm just gonna ask a different question than you know, I've never like one question that I really love for a prospect meeting is tell me about some of the best financial decisions you've made.
00:21:05.519 --> 00:21:08.880
And people will just, they're not expecting to hear that.
00:21:09.039 --> 00:21:15.680
And it also opens them up for one, if it's someone who, you know, has been a good saver and they've worked really hard.
00:21:15.759 --> 00:21:17.359
You you don't really share that with anyone.
00:21:17.599 --> 00:21:23.279
So it's like nice to be able to like say, yeah, I have max set my foreign, whatever the thing is.
00:21:23.519 --> 00:21:34.240
And then on the flip side, if it's someone who has some shame or is embarrassed or they're not on track, or whatever it is, there's something that they've done financially that was a good decision, right?
00:21:34.400 --> 00:21:40.400
So then they can kind of feel like, okay, I know I I have the ability to make a good decision.
00:21:40.640 --> 00:21:44.720
So it could just be one question, just experimenting.
00:21:44.880 --> 00:21:48.799
And I think, you know, listening to podcasts and just kind of be there's so much on LinkedIn right now.
00:21:48.880 --> 00:21:51.200
There's so much on behavioral finance.
00:21:51.279 --> 00:21:54.720
It's like finding someone you can connect with, I think, is really important too.
00:21:55.039 --> 00:21:59.279
I would imagine asking like that one question, which is a stealer, by the way.
00:21:59.359 --> 00:22:03.680
I'm gonna Add that to my fantastic question list of questions we should be asking.
00:22:04.559 --> 00:22:04.720
Yeah.
00:22:05.519 --> 00:22:06.480
All right, Amy.
00:22:06.559 --> 00:22:07.839
Uh you're not listening.
00:22:07.920 --> 00:22:08.960
Hope you're not listening, Amy.
00:22:09.279 --> 00:22:11.039
I'm gonna steal that question.
00:22:11.200 --> 00:22:11.920
I like it.
00:22:12.079 --> 00:22:12.799
I like it.
00:22:13.039 --> 00:22:31.440
I would imagine, though, you know, I think about myself asking that question or an advisor and like the answers, like you said, that come out of that can be so telling for what this client thinks of as a good, like how they're defining like a good money decision.
00:22:31.680 --> 00:22:31.839
Right.
00:22:32.160 --> 00:22:42.240
And I would imagine that it might be vastly, it could be vastly different than what you as the advisor assumes or thinks is a good money decision.
00:22:42.400 --> 00:22:51.440
You know, for myself, for example, like a good money decision would probably be the vacation that we took last year to Europe with the kids and like Clayton's parents.
00:22:51.599 --> 00:23:04.319
I mean, you talk about one, just bucket list, but like lifetime memories made with family, things that to go to Europe with your grandparents, like my kids will always have that memory there and just how special like that is.
00:23:04.720 --> 00:23:06.960
It was a lot of freaking money though, you know?
00:23:07.279 --> 00:23:07.759
Of course.
00:23:08.000 --> 00:23:14.960
And I mean, Clayton is, you know, he serves as our household CFO, obviously.
00:23:15.119 --> 00:23:16.799
And I think he would say it's a good decision.
00:23:16.880 --> 00:23:20.319
But I could see like a financial planner being like, hey, we need to think about this.
00:23:20.400 --> 00:23:21.920
Like, I don't, well, that's interesting.
00:23:22.000 --> 00:23:29.680
I don't know if spending, and I won't say the number here, but a lot of money on a trip like that is a great financial decision.
00:23:29.839 --> 00:23:31.519
So I think that's a great question.
00:23:31.599 --> 00:23:45.839
And to your point, like asking questions or starting, you know, and understanding more what's below the waters, what's a great financial decision is all the more helpful for building out that plan and guiding, you know, clients along the way.
00:23:46.079 --> 00:23:46.400
Yeah.
00:23:46.640 --> 00:23:50.000
And just kind of having them feel at ease a little bit too, right?
00:23:50.160 --> 00:23:51.920
Because so many people come in, they're so nervous.
00:23:52.079 --> 00:23:54.319
They've never talked about their finances with anyone, right?
00:23:54.400 --> 00:23:56.000
Or maybe they had a bad experience with advisors.
00:23:56.079 --> 00:24:03.119
So it's like you want to just be able to kind of set the stage and it's like a safe place that you can share and to like build that right away.
00:24:03.519 --> 00:24:14.240
Do you feel like for advisors who are trying to do or incorporate more of the human side of planning, you know, financial or psychology, excuse me, of financial planning?
00:24:14.400 --> 00:24:22.880
Do you feel like there's like just some pretty standard like assessments or questions that like should be asked as part of like just the planning process?
00:24:23.279 --> 00:24:29.839
Yeah, I think even just slowing it down to the process if you can, which is really hard.
00:24:29.920 --> 00:24:33.839
Cause a lot of times, I mean, one if they have a very burning question, you have to address that, right?
00:24:33.920 --> 00:24:34.559
Like you can't.
00:24:34.880 --> 00:24:38.240
And that I learned for sure doing like a plan with someone.
00:24:38.480 --> 00:24:40.319
And they just wanted to know if they were on track.
00:24:40.559 --> 00:24:43.680
Like, I could have showed them e-money at the second meeting.
00:24:44.000 --> 00:24:49.920
And I'm like back looking back, I'm like, they were kind of stuck on just that, and it like prevented them from talking about other things.
00:24:50.160 --> 00:24:51.759
So that was definitely something I learned.
00:24:51.839 --> 00:24:55.279
But I think having like, can you have two discovery meetings?
00:24:55.359 --> 00:24:57.519
And that can feel like, oh, that's a lot.
00:24:57.759 --> 00:25:05.680
But I feel like the first one, it's can kind of scratch the surface of what their goals actually are.
00:25:05.920 --> 00:25:15.599
And at that point, it's like, if whatever kind of exercise or assessment you're using, if you can kind of build, like if it the first one is kind of, where are you now?
00:25:15.839 --> 00:25:16.720
Where are you now?
00:25:16.880 --> 00:25:27.519
And like how satisfied you are with, and just not asking about, you know, finances, obviously, asking about other goals that they have, but getting a clear sense of like what's important to them now.
00:25:27.680 --> 00:25:38.000
And then the next meeting is more like, okay, so now that I have a better understanding of what your preferences are, what your values are, let's really talk about what your vision is for your ideal future.
00:25:38.240 --> 00:25:45.440
And I think just slowing it down and giving people the time and the space to really think about instead of just like, what are your goals?
00:25:45.680 --> 00:25:48.000
That's such a loaded question.
00:25:48.240 --> 00:26:04.160
So I think like developing, even if it's like just developing a few questions around that, and again, slowing down the process, I think there's so much that we just expect now that's gonna be immediate, and it's typically not as meaningful.
00:26:04.319 --> 00:26:06.319
It's really and that can be really hard.
00:26:06.640 --> 00:26:12.960
Yeah, and to your point, because if clients are coming in and like something's on fire, like we want to put the fire out first.
00:26:13.119 --> 00:26:20.559
And so, you know, to go in and like approach it with like a let's talk about your vision and values when something's on fire.
00:26:20.799 --> 00:26:28.480
Yeah, they're like, no, that is not going to connect in the way that you want it to.
00:26:28.640 --> 00:26:29.039
Yeah.
00:26:29.200 --> 00:26:29.680
Yeah.
00:26:30.000 --> 00:26:33.759
One of the fastest ways to probably lose a client, right?
00:26:34.079 --> 00:26:36.000
Is to not not meet them where they are.
00:26:36.160 --> 00:26:38.079
So I think that's an important point, right?
00:26:38.240 --> 00:26:47.119
We can utilize these assessments, we can have these great conversations that can be like the standard way of operating and doing.
00:26:47.200 --> 00:26:51.680
But if something's on fire, let's first meet them where they are and put the fire out.
00:26:51.839 --> 00:26:52.079
Yes.
00:26:52.240 --> 00:26:52.720
Um, yeah.
00:26:52.880 --> 00:26:59.039
Because once that's put out mentally, emotionally, like psychologically, like they will be settled enough.
00:26:59.519 --> 00:26:59.920
Yeah.
00:27:00.160 --> 00:27:07.599
And I think for me in that scenario is like, in my head, I was like, well, how do they not know that based on but it's like, no, they didn't.
00:27:07.759 --> 00:27:07.920
Right.
00:27:08.000 --> 00:27:08.480
Yeah, yeah.
00:27:08.720 --> 00:27:10.799
But I'm like, it seems so clear.
00:27:11.119 --> 00:27:11.200
Right.
00:27:11.359 --> 00:27:17.359
And so it's like, how do we like make sure we're in their like how they're thinking, right?
00:27:17.599 --> 00:27:18.400
Yeah, absolutely.
00:27:19.119 --> 00:27:19.519
Absolutely.
00:27:19.680 --> 00:27:20.319
It is.
00:27:21.039 --> 00:27:36.720
Okay, Amanda, any other tidbits, nuggets, information, pointers, tips that you want to give those out there who are listening and thinking about how do we incorporate and/or use assessments within our practice?
00:27:37.039 --> 00:27:40.480
I think it's just like, don't be afraid to try something.
00:27:40.640 --> 00:27:49.279
I mean, I have this, you know, with other areas, but it's like we are so nervous about saying the right thing and doing it in the right way.
00:27:49.440 --> 00:27:52.640
Are they gonna think this is like you haven't even tried anything, right?
00:27:52.799 --> 00:27:59.440
So just try something, whether it's like go on Claude and like find some questions to ask and maybe again ask one question.
00:27:59.519 --> 00:28:16.799
I think like starting really small, if you're nervous, talking to people like yourself and other providers to get a good sense of what would this actually look like and to start just experimenting things, just how you tell your clients, you know, to experiment with when they're thinking about retirement or whatever a major transition.
00:28:17.039 --> 00:28:25.200
And people, and I think the other thing is people are more open than you think to again, and if you are able to deliver it with confidence, they're gonna feed off of that.
00:28:25.359 --> 00:28:32.960
So if you ask a question that you think is gonna be, oh, maybe they're gonna question why I'm asking it, it's like just try it, right?
00:28:33.200 --> 00:28:33.920
Yeah, yeah.
00:28:34.160 --> 00:28:34.960
I think that's fantastic.
00:28:35.200 --> 00:28:36.079
I think that's fantastic.
00:28:36.319 --> 00:28:42.160
Easier said than done, but also I think those are fantastic, just like points, like all around.
00:28:42.319 --> 00:28:44.160
Keep it small, just start, right?
00:28:44.240 --> 00:28:47.359
Starting is more important than it being perfect, right?
00:28:47.680 --> 00:28:52.319
So just start somewhere, but start small and keep doing that and build.
00:28:52.559 --> 00:28:54.720
And also you're a hundred percent right.
00:28:54.799 --> 00:28:58.079
Like clients are more open than what you think that they are.
00:28:58.319 --> 00:28:58.960
Yes.
00:28:59.279 --> 00:29:04.720
And so building a little bit of that internal confidence there to say, okay, I'm gonna try this.
00:29:04.960 --> 00:29:05.920
And yeah.
00:29:06.240 --> 00:29:12.400
If people are listening now and they're like, man, this is good stuff, and I'd like to pick Amanda's brain.
00:29:12.559 --> 00:29:15.599
I know I'm kind of putting your time out there, so apologies there.
00:29:15.680 --> 00:29:21.039
But if people are like, I want more Amanda in my life, I want to pick her brain, I just want to know a little bit more about what she's doing.
00:29:21.200 --> 00:29:22.000
Where can they find you?
00:29:22.079 --> 00:29:23.200
Where can they connect with you?
00:29:23.519 --> 00:29:26.160
Yeah, so I'm on LinkedIn as I'm saying this.
00:29:26.319 --> 00:29:28.079
This is gonna make me want to post more.
00:29:28.240 --> 00:29:31.440
And so this is my version of like, just do something on LinkedIn.
00:29:31.680 --> 00:29:32.160
I love it.
00:29:33.920 --> 00:29:35.920
So here's me publicly saying that.
00:29:36.160 --> 00:29:40.960
My website, I have a website, amandadelmonico.com, and then also Max Your Dash Advisors.
00:29:41.200 --> 00:29:41.599
Wonderful.
00:29:41.680 --> 00:29:48.000
We'll make sure that we include those links there and to your LinkedIn profile so that people can say, Amanda, what are you up to?
00:29:48.480 --> 00:29:48.880
What are you doing?
00:29:48.960 --> 00:29:49.519
Are you trying something?
00:29:49.759 --> 00:29:50.160
What are we doing?
00:29:50.240 --> 00:29:51.039
Are you trying something?
00:29:51.200 --> 00:29:51.599
Yeah.
00:29:51.920 --> 00:29:56.079
I apologize in advance for any of those messages that you may receive.
00:29:56.240 --> 00:29:58.000
Well, Amanda, thank you so much for coming on.
00:29:58.160 --> 00:30:02.640
Thank you for sharing all of your insights, all of your wisdom here today with us.
00:30:02.960 --> 00:30:08.400
And thank you to all of you for allowing Amanda and I into your ears and into your mind today.
00:30:08.559 --> 00:30:13.200
It's a part of your week that you don't have to give us, but you're choosing to.
00:30:13.359 --> 00:30:17.759
And for that, I think I speak for Amanda and I and saying that we're both incredibly grateful.
00:30:18.000 --> 00:30:23.680
If this conversation resonated with you, I would also like to keep the conversation going.
00:30:23.839 --> 00:30:29.839
You can connect with me on LinkedIn at Ashley Qualmy, where I share weekly insights on the human side of planning.
00:30:30.000 --> 00:30:37.920
If you'd like a little bit more beyond the plan in your life, you can head over to our website, sign up for our monthly newsletter.
00:30:38.079 --> 00:30:45.759
You can also check out our soon-to-be newly released advisor skill school.
00:30:46.079 --> 00:30:52.480
This will be a fantastic offering that we have coming out here January 2027.
00:30:52.799 --> 00:31:07.759
If you'd like more information about how you can be a part of Advisor Skills School, learning all of the relational skills, some of which we talk about here with guests on the podcast, but also much that Meg and I also talk about in our writings and in some of the content we put out.
00:31:07.920 --> 00:31:13.680
If you'd like to know more about Advisor Skill School, please don't hesitate to reach out to us and let us know.
00:31:13.839 --> 00:31:16.319
We'd love to connect you with the information.
00:31:16.559 --> 00:31:28.720
But most importantly, I want to make sure that you follow the show, Planning and Beyond, wherever you get your podcast, so that you never miss a future conversation like this one.
00:31:28.960 --> 00:31:33.839
And as always, my friends, remember finances don't have feelings, but your clients do.
00:31:34.079 --> 00:31:38.799
Until next time, keep planning, keep growing, and keep going beyond.
00:31:41.119 --> 00:31:44.319
Thanks for joining me on this episode of Planning and Beyond.
00:31:44.480 --> 00:31:50.319
I hope you found today's insights valuable and inspiring for both your practice and your personal growth.
00:31:50.559 --> 00:31:55.920
If you enjoyed the show, please subscribe and leave a review on your favorite podcast platform.
00:31:56.160 --> 00:32:01.359
Your feedback helps us reach more advisors like you who are dedicated to making a difference.
00:32:01.599 --> 00:32:09.519
For more resources, tips, and to continue the conversation, visit our website at beyondthefp.com.
00:32:09.920 --> 00:32:16.559
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00:32:16.799 --> 00:32:20.079
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00:32:20.319 --> 00:32:22.559
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00:32:22.799 --> 00:32:26.960
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00:32:27.200 --> 00:32:32.960
Until next time, keep planning, keep growing, and keep going beyond.
00:00:00.080 --> 00:00:05.040
If clients are coming in and like something's on fire, we want to put the fire out first.
00:00:05.200 --> 00:00:12.240
And so to go in and like approach it with like a let's talk about your vision and values when something's on fire.
00:00:12.480 --> 00:00:13.439
Yeah, they're like, no.
00:00:13.759 --> 00:00:17.280
One of the fastest ways to probably lose a client, right?
00:00:17.519 --> 00:00:19.199
Is to not meet them where they are.
00:00:19.440 --> 00:00:24.000
That can be like the standard way of operating and doing.
00:00:24.079 --> 00:00:29.039
But if something's on fire, let's first meet them where they are and put the fire out.
00:00:30.000 --> 00:00:35.200
Welcome to Planning and Beyond, the show where financial planning meets human understanding.
00:00:35.359 --> 00:00:41.679
As an exceptional financial advisor, you know that financial planning is about more than just numbers.
00:00:41.840 --> 00:00:47.359
It's about giving clients the clarity they need to align their money with what matters most.
00:00:47.520 --> 00:00:51.759
Which is why each episode is designed with that goal in mind.
00:00:51.920 --> 00:01:01.679
You'll learn how to uncover the psychology behind client decisions and gain insights and behavioral strategies needed to create deeper, more meaningful client relationships.
00:01:01.840 --> 00:01:13.040
You'll discover techniques for navigating emotional client situations drawn from conversations with leading industry experts in behavioral finance, psychology, communication, and more.
00:01:13.200 --> 00:01:28.799
Whether it's mastering discovery meetings, handling sensitive client conversations, or understanding what is truly keeping your client stuck, you'll walk away with not only strategies that you can use in your next client meeting, but also the confidence to do so.
00:01:28.959 --> 00:01:30.000
Oh yeah, hi.
00:01:30.159 --> 00:01:31.760
I should probably introduce myself.
00:01:31.920 --> 00:01:40.000
I'm your host, Ashley Kwame, a therapist who somehow wandered into the world of financial behavior and kind of decided to stay.
00:01:40.239 --> 00:01:46.000
My mission is to help you bridge the gap between financial planning and human understanding.
00:01:46.239 --> 00:01:49.840
Because remember, finances don't have feelings, but your clients do.
00:01:50.079 --> 00:01:51.359
Let's dive in.
00:01:52.959 --> 00:01:58.159
Welcome to Planning and Beyond, the podcast where financial planning meets human understanding.
00:01:58.400 --> 00:02:10.080
I'm your host, Ashley Kwame, and today we have one of those episodes uh similar to ones that uh we've been releasing here with a about a monthly cadence, if I can remember correctly.
00:02:10.240 --> 00:02:22.319
But this is that time in our release schedule where we bring on an advisor to talk about how they are bringing the human side of planning into their work.
00:02:22.479 --> 00:02:23.919
So think about this.
00:02:24.080 --> 00:02:35.680
If any of you listen to Kitz's The Advisor Success podcast or many others out there, right, where we take a deep dive and kind of peek behind the curtains, how are advisors actually doing this and implementing this?
00:02:35.840 --> 00:02:37.680
This is that episode here today.
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And so I'm thrilled to have my guest, Amanda Delmonico.
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She is an advisor at Max Your Dash Advisors up in Rochester, New York.
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And we're here today to talk about behavioral assessments.
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Amanda, thank you so much for coming on the show.
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I'm thrilled to have you here.
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Thanks so much for having me.
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Yeah, absolutely.
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Yeah, it's gonna be a fun conversation because one of the things I really like talking about, which is assessments.
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But we're gonna talk about this from the advisor angle.
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Uh, as many of you know, listening, I'm not an advisor.
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I am a therapist coming from the mental health background.
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So while I have familiarity with utilizing assessments, I don't have familiarity with being an advisor and thinking through how do I want to integrate this into my firm.
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So I brought Amanda on here today to talk about how she does that, what does that look like, challenges, hurdles, all the juicy, yummy things that we're gonna get into.
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But first, Amanda, would you maybe mind taking a few moments to just share a little bit about your planning journey, how you got here, and then we'll just go from there.
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Sure.
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So, like so many elder millennials, I've had many different jobs, I've been in different industries.
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I became a financial planner about four years ago.
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So being kind of new to the industry and having kind of experience of adjusting to new positions and new roles.
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One thing that's always really helpful, it's just really immersing yourself in whatever industry you're in, right?
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So it's really learning a new language.
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And I remember early on reading about behavioral finance and just thinking this seems like it's gonna, it is so important and it's gonna be so important.
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So, kind of in addition, I my dad is a financial advisor.
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He just retired.
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So I've been I worked with him, took over his type of business.
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And, you know, he's had relationships with clients 20, 30, 40 years.
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So it's like, how do I walk into this and make an immediate impact and be able to hold meetings and you know, connect with people that he's been doing, you know, he's been doing this for so long.
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So I thought that part was really important.
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And I just wanted to make sure I was focusing on that side of things as much as the technical piece of it.
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Yeah, I appreciate that as someone who is also newer to the, I say newer at this point, it's four years, you know, almost five years into the finance industry, crossing over from the dark side, right?
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Of mental health and coming here.
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Like I can appreciate that mindset and perspective of like going all in and really just learning everything that you can and immersing yourself, as you said.
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Um and I think about just like with fresh eyes and like a fresh perspective, like how wonderful, probably also overwhelming too.
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I'm just thinking, working like with your dad, thinking about coming into like this business and seeing here, like how do we like want to work with clients?
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So I know that you are a money quotient user.
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Shout out, money quotient.
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I know that you're uh an MQ user as far as the you know, the assessments and the tools go.
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How I guess what was your thought process there?
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I'd love to know.
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Like, how did you get to like, okay, I'm interested in behavioral finance.
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This seems like interesting stuff, a way of interacting and engaging and being with clients.
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How did you get from like that kind of interest, curiosity, and thought to now I want to take action and bring this tool to our planning work?
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Yeah, great question.
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I think it was a couple things.
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I think the first was the advisors that I work with have one in particular partner of a firm, he kind of took me through, which I think was so helpful, the planning process that they do with clients, right?
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So I was a client and he's just a naturally curious person, asks a lot of great questions, is just does this naturally, but he's also had 15 years experience doing it.
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So I remember feeling like I want to feel like this as a client, but I also need some structure because I'm already learning so much and I can't just like memorize quite, you know, I was like, this, I need something more.
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And I think I heard Amy, I she might have been on Kidsys or something.
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So I heard her on a podcast talking about it.
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And I remember I had a call and I was, and I said, you know, I'm really new to the industry.
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I don't know if I should wait to do this training.
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She's like, in some ways it's not better, but it can be really helpful as you're developing your process.
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So I feel like a lot of the advisors that did the training, they're having to relearn a process.
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And for me, it's like I didn't have anything else to change or compare to.
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So in that sense, it was really nice to be able to learn that process and just implement it kind of right away as I started taking on new clients and even with existing clients.
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Oh, yeah.
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That makes a lot of sense.
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And similar, you know, when I was supervising pre-licensed clinicians, they would have an interest in a certain modality of therapy.
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And even like for myself, when I started out, I knew I wanted to work with couples, but I also know I love what you said there around needing some structure.
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Like, yeah, you know, I know what I know, I know kind of how I would like to be or even feel.
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Or as you said, I know what I want clients to feel, but I need a little bit of like structure on like how to like guide that conversationally.
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So I know for myself, like when I I had a similar feeling of I know that I want to work with couples and I need some type of structure or framework for how to do that.
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And went on to find like Gottman therapy and emotionally focused therapy that really helped create that structure, but allowed me to still be kind of myself within that.
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Yes.
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And it gives you like more freedom to do that because you feel kind of like, all right, I have this structure and I can, you know, instead of just like worrying about what am I gonna say, how am I gonna do it, right?
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You can kind of feel a little bit more free in a way.
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No, a hundred per 100%.
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Yeah.
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There's not that kind of in the back of my mind, like I would have pre-licensed clinicians talk about this like worry and kind of anxiety around what am I doing?
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What are my next steps?
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How do I know what to do next?
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You know, and so having a framework, having some structure there, you know, I'm not gonna say that it can completely eliminate that, but it does quiet down some of that noise, right?
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It does and I guess maybe I'm curious if that was the case for you, if you've found that like with having that structure with money quotient, some framework, if it kind of quiets down some of that noise of like, where do I go?
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What do I do?
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Certainly, especially I feel like with new clients, just because so many of my relationships are existing relationships from my dad or from the firm.
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And so that is just a different meeting than a brand new person, right?
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So I wasn't in a lot of brand new client meetings.
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So to do that on your own already feels intimidating.
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So having that, like, okay, this is what I'm doing.
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The first I was still, of course, nervous, but it's like you have that direction and you have that kind of safety of, okay, this is what the first meeting is gonna be.
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Let's just worry about this one and then the next one will come when it comes.
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Yeah.
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I no, I think that's I think that's fantastic.
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I'm thrilled to kind of hear that experience because it's similar.
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I know we're not here to talk about me and my experience, but like it is similar, it's validating, right?
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To have that.
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Let's maybe talk a little bit.
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So I know like within Money Quotient, they have a fantastic just library, is maybe the word that I would use.
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Library of assessments.
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And when we are working with firms like Beyond the Plane, we get asked a lot about assessments.
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What assessments should we use?
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Should which RTQ should we use?
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Which values assessment should we use?
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Or just there's so much out there, or advisors now even creating their own or wanting to create their own, you know, using Claw or some other type of chat, you know, AI tool, which I think is great.
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How did you, I guess, decide?
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Like, where do I start?
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You know, with this massive library, but even a bit more broadly, like, how did you think about where to start and what to start using when and how?
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Yeah, great question.
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I think money question is a really nice job of kind of teeing you up for like, okay, if it is a new client, here's a series of tools.
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You know, there's a financial life satisfaction survey, a transition survey that you can kind of use.
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And those they start, so it's just a one through five.
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So people aren't having to pour out their life story the first time you meet with them.
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It's just not appropriate.
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There's a sequence that really makes sense from the advisor standpoint and the clients.
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So I think they they really do a nice job of saying here are the kind of options.
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So, yes, there's so many different ones, but they're not saying like here's a hundred and you pick.
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So it's like for each kind of meeting for a new, if it's a new client, they kind of guide you with options of which ones to use, which I feel like is extremely helpful.
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And obviously with existing client, there's kind of suggestions for an annual review meeting, and then there's situations.
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So for if someone's wanting to do some more focused retirement planning, there's a sequence of tools for that.
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Someone's having issues with spending, you know, there's all different kinds of modules that you can use.
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And then of course, with any uh assessments that you're using or any framework, you end up kind of the more you use them, you can kind of decide like, oh, I actually think this would be good in this situation, even maybe if it wasn't suggested like that initially.
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But it's just kind of like learning music, right?
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Like you once you you first you're just learning how to read music, then you're, you know, and then it's like, okay, how can I really now make this my own?
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And I think that's true, whether you create your own tool, whether you're using something existing.
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I think that framework around taking your meeting type and thinking about is there a tool?
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Maybe it's a questionnaire tool, maybe it's an assessment, or maybe it's even just like one question that's kind of like standard.
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I like that because I think it can be overwhelming, right?
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Thinking about there's a lot of tools out there, things that I could do.
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And like, how do I even start thinking about organizing that in a way that makes sense, not just for me as an advisor with my processes, but also for my clients?
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And so it sounds like with money quotient, what you found helpful is looking at kind of these stages of where a client, where a client is.
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Did you start with like prospect or like where did you find that it was helpful to like start at when it came to implementing some of this?
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Yeah, I mean, I most things I just jumped right in and did it with, you know, my dad's like, I don't even know what you're doing.
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Like, I don't even know what training this is.
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He's like, now you're giving him questionnaires.
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I'm like, nice to meet you in here.
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But so it was like annual review meetings.
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So it's the what it was kind of the satisfaction, the life transition.
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And that it just got people to open up a little bit more, even for a lot of people who are like skeptical of it, it's still they shared a little bit more and made them think, and even simple things, like they were like, Oh, I didn't know I really could talk about, you know, whatever the topic was.
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And just by having that prompted, it opened them up.
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And then certainly with new clients, I've done the process now a handful of times and it it's the most enjoyable way to do it.
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And I've also kind of I've done it without using the, you know, whether it's money question or not, it seems like the process can stall when you aren't using like incorporating the behavioral part of it, right?
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So if you're just asking someone what their goals are, okay, I want to retire at 60, I want to travel more, okay.
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You build a plan around that.
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Like there's not enough meaning behind that, and a lot of people don't know what their goals are, right?
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So it's like, how are you gonna really get to that with them?
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And if you're not, the whatever plan you deliver, it just isn't gonna be as impactful.
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And they're probably not gonna act on the things that you're recommending if you're giving advice too soon.
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And people say they want that, but they really don't.
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It has to come from them.
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So I think that's what's like so powerful.
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Yeah, I listen, you are preaching to the choir here.
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I like want to throw my hands up and say amen.
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I love that.
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I want to know though, how because one of the things that we get asked too is how do you introduce this?
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And so, you know, I'm thinking about you like taking existing clients like from your dad, right?
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There's one way of like doing things.
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And look, I'm sure I have no doubts that your dad is a fantastic, like advisor things right, but like different, it's still different.
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It's just different, yeah.
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Tee your clients up.
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Like, what did you say for these, maybe existing clients?
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Because I think that's where if advisors are like, I want to start doing something different, they've already got existing relationships.
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Of course.
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Yeah.
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So what did you say to those clients as far as you know, we're having a different conversation?
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Like, how did you how did you communicate that to them?
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Yeah, I kept it really simple and I just said, hey, we're we're starting to incorporate new tools into our review process.
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They're really gonna help us frame our conversation.
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And I also want to make sure we're not missing anything, especially with like the transition.
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Like, we want to be proactive and looking at the next year coming up, and these tools are just gonna help us do that.
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So I I didn't like give a full, I don't know.
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I just try to keep it as simple as possible.
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And I find that it's like if you send things to people, they're probably gonna fill it out.
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You know, some people won't, of course.
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But in general, you go to the doctor, you fill out a form.
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Like, people are kind of used to that.
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So even though it was new, there wasn't an issue with people, which I was nervous, of course.
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I was like, I don't know if they're gonna even fill it out, but it's like they did.
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And then of course, everyone is different with how much they're gonna share.
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So for some people, it's just like, oh, it's good.
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And some people really were able to open up, but that's just natural, anyways, depending on who you're working with.
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Yeah, I think so too.
00:16:27.279 --> 00:16:28.480
And that's what we've found, right?
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Is that if we keep it simple, right, don't make it a big deal, just kind of speak to it.
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I love that framing there, that you the language you used of, you know, this is a tool that's gonna help us to have like better conversations, right?
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Or, you know, be able to look ahead, right, and just see what adjustments need to be made and all of that.
00:16:46.799 --> 00:16:52.879
I think if we just keep it simple, yeah, the clients like feel that and they're like, oh, like no big deal, right?
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Like, okay, this makes sense, right?
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It makes logical sense.
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You're using new tools and it's gonna help better me.
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And so gladly happy to fill this out.
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Yeah.
00:17:02.799 --> 00:17:05.279
And they, like you said, like they feed off of your energy.
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So if you're like, oh, I got some homework for you, you know, they're not gonna want to do it.
00:17:09.759 --> 00:17:14.720
But if you're just like, oh, it's they're quick and easy to fill out, take five minutes, less than five minutes, you know.
00:17:15.039 --> 00:17:16.000
Yeah, exactly.
00:17:16.160 --> 00:17:24.799
I'm curious, like, were there any challenges or hurdles to starting to implement assessments or just having these different conversations?
00:17:25.519 --> 00:17:26.079
For sure.
00:17:26.240 --> 00:17:29.440
I think, and you know, it's learning anything.
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Like, there was I had a particular client, he was very closed off, and he had just retired, and he really just didn't want to talk about how he was feeling about it.
00:17:40.799 --> 00:17:57.599
And I didn't push it, but it was like there's so there's, and again, that probably would have came up whether you're using an assessment or not, but just being really mindful of the job isn't to like get people to tell you as much as they it's like meeting them where they are, right?
00:17:57.680 --> 00:18:02.480
And it's like, but then I I do remember like the next meeting after that, he did open up a little bit more.
00:18:02.559 --> 00:18:04.559
So it's like you're also planting seeds.
00:18:04.640 --> 00:18:09.920
It's not like everything just happens because you're giving someone a value exercise or whatever the thing is.
00:18:10.000 --> 00:18:17.759
It's like they're starting to think about things differently, and maybe they'll come to you with a different question that they wouldn't have had if you didn't do it.
00:18:17.920 --> 00:18:23.680
So yeah, that I like the planting seeds, and you know, it's something, an analogy that I've used too.
00:18:23.759 --> 00:18:35.359
Sometimes like the work is just planting the seeds, giving them the idea or the invitation almost that you know, when you're ready, we can have a different conversation, or I'm here.
00:18:35.599 --> 00:18:41.759
And I've ran into my fair share of uh of uh clients who are pretty stuck.
00:18:42.000 --> 00:18:42.559
I'm sure.
00:18:42.640 --> 00:18:45.759
Yeah or move about things at a slower pace.
00:18:46.079 --> 00:18:46.640
Yes.
00:18:46.880 --> 00:18:51.519
And while professionally, like I'm very understanding and very patient.
00:18:51.920 --> 00:18:54.559
There's also a part of me that's like, come on, dude, hurry up.
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Like, open up.
00:18:55.359 --> 00:18:56.240
This is gonna be so great.
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Like, we're gonna have a great conversation.
00:18:58.640 --> 00:18:59.839
For meant to retire, we know.
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Let's talk about it.
00:19:01.039 --> 00:19:02.240
We know, let's talk about it.
00:19:02.400 --> 00:19:06.640
Like, and let's more than talk about it, let's also cry about it too.
00:19:06.960 --> 00:19:10.720
I know I'm a weirdo in in that.
00:19:11.519 --> 00:19:15.680
Um that is what I really, really just want so bad.
00:19:15.920 --> 00:19:18.720
Um, but patience, patience is key.
00:19:18.799 --> 00:19:30.960
And I really I like how you use this client as an example because I don't know, but I would imagine that there could be some people listening who do this and then they're like, oh, that didn't go well.
00:19:31.200 --> 00:19:38.079
So with that client in particular, we're not going to continue with this different approach.
00:19:38.400 --> 00:19:38.799
Yes.
00:19:39.039 --> 00:19:40.640
But you kept at it, right?
00:19:40.880 --> 00:19:42.079
Yeah, absolutely.
00:19:42.319 --> 00:19:42.720
Yeah.
00:19:43.039 --> 00:19:43.359
Okay.
00:19:43.759 --> 00:19:57.519
So if an advisor who is listening right now and they are curious about utilizing assessments or even maybe putting some structure framework to their meetings.
00:19:57.599 --> 00:20:04.559
Maybe that's the annual review meeting, maybe that's redefining a bit more of their discovery process.
00:20:05.039 --> 00:20:13.039
What are some practical tips or suggestions that you would give to an advisor or a firm who's trying to do this?
00:20:13.440 --> 00:20:30.559
Yeah, I think finding, you know, whether it's money, there's so many different modalities and assessments and tools and finding something that works, you know, like and having those calls, whether it's with the work that you're doing, and just depending on the firm and like, is this a firm-wide thing?
00:20:30.640 --> 00:20:31.920
Are you an individual advisor?
00:20:32.160 --> 00:20:36.000
I just think it's so important that you have to kind of connect with the method.
00:20:36.079 --> 00:20:38.480
I know some people use the value exercise card.
00:20:38.799 --> 00:20:41.839
You have to say, like, oh, that's something I can see myself doing, right?
00:20:42.000 --> 00:20:45.440
Because not everything is gonna work for every advisor.
00:20:45.759 --> 00:20:49.599
So I think, is there a way to like maybe you can experiment with something?
00:20:49.759 --> 00:20:52.559
Maybe you like, even if it's starting with one question, right?
00:20:52.640 --> 00:21:05.279
And just saying, I'm just gonna ask a different question than you know, I've never like one question that I really love for a prospect meeting is tell me about some of the best financial decisions you've made.
00:21:05.519 --> 00:21:08.880
And people will just, they're not expecting to hear that.
00:21:09.039 --> 00:21:15.680
And it also opens them up for one, if it's someone who, you know, has been a good saver and they've worked really hard.
00:21:15.759 --> 00:21:17.359
You you don't really share that with anyone.
00:21:17.599 --> 00:21:23.279
So it's like nice to be able to like say, yeah, I have max set my foreign, whatever the thing is.
00:21:23.519 --> 00:21:34.240
And then on the flip side, if it's someone who has some shame or is embarrassed or they're not on track, or whatever it is, there's something that they've done financially that was a good decision, right?
00:21:34.400 --> 00:21:40.400
So then they can kind of feel like, okay, I know I I have the ability to make a good decision.
00:21:40.640 --> 00:21:44.720
So it could just be one question, just experimenting.
00:21:44.880 --> 00:21:48.799
And I think, you know, listening to podcasts and just kind of be there's so much on LinkedIn right now.
00:21:48.880 --> 00:21:51.200
There's so much on behavioral finance.
00:21:51.279 --> 00:21:54.720
It's like finding someone you can connect with, I think, is really important too.
00:21:55.039 --> 00:21:59.279
I would imagine asking like that one question, which is a stealer, by the way.
00:21:59.359 --> 00:22:03.680
I'm gonna Add that to my fantastic question list of questions we should be asking.
00:22:04.559 --> 00:22:04.720
Yeah.
00:22:05.519 --> 00:22:06.480
All right, Amy.
00:22:06.559 --> 00:22:07.839
Uh you're not listening.
00:22:07.920 --> 00:22:08.960
Hope you're not listening, Amy.
00:22:09.279 --> 00:22:11.039
I'm gonna steal that question.
00:22:11.200 --> 00:22:11.920
I like it.
00:22:12.079 --> 00:22:12.799
I like it.
00:22:13.039 --> 00:22:31.440
I would imagine, though, you know, I think about myself asking that question or an advisor and like the answers, like you said, that come out of that can be so telling for what this client thinks of as a good, like how they're defining like a good money decision.
00:22:31.680 --> 00:22:31.839
Right.
00:22:32.160 --> 00:22:42.240
And I would imagine that it might be vastly, it could be vastly different than what you as the advisor assumes or thinks is a good money decision.
00:22:42.400 --> 00:22:51.440
You know, for myself, for example, like a good money decision would probably be the vacation that we took last year to Europe with the kids and like Clayton's parents.
00:22:51.599 --> 00:23:04.319
I mean, you talk about one, just bucket list, but like lifetime memories made with family, things that to go to Europe with your grandparents, like my kids will always have that memory there and just how special like that is.
00:23:04.720 --> 00:23:06.960
It was a lot of freaking money though, you know?
00:23:07.279 --> 00:23:07.759
Of course.
00:23:08.000 --> 00:23:14.960
And I mean, Clayton is, you know, he serves as our household CFO, obviously.
00:23:15.119 --> 00:23:16.799
And I think he would say it's a good decision.
00:23:16.880 --> 00:23:20.319
But I could see like a financial planner being like, hey, we need to think about this.
00:23:20.400 --> 00:23:21.920
Like, I don't, well, that's interesting.
00:23:22.000 --> 00:23:29.680
I don't know if spending, and I won't say the number here, but a lot of money on a trip like that is a great financial decision.
00:23:29.839 --> 00:23:31.519
So I think that's a great question.
00:23:31.599 --> 00:23:45.839
And to your point, like asking questions or starting, you know, and understanding more what's below the waters, what's a great financial decision is all the more helpful for building out that plan and guiding, you know, clients along the way.
00:23:46.079 --> 00:23:46.400
Yeah.
00:23:46.640 --> 00:23:50.000
And just kind of having them feel at ease a little bit too, right?
00:23:50.160 --> 00:23:51.920
Because so many people come in, they're so nervous.
00:23:52.079 --> 00:23:54.319
They've never talked about their finances with anyone, right?
00:23:54.400 --> 00:23:56.000
Or maybe they had a bad experience with advisors.
00:23:56.079 --> 00:24:03.119
So it's like you want to just be able to kind of set the stage and it's like a safe place that you can share and to like build that right away.
00:24:03.519 --> 00:24:14.240
Do you feel like for advisors who are trying to do or incorporate more of the human side of planning, you know, financial or psychology, excuse me, of financial planning?
00:24:14.400 --> 00:24:22.880
Do you feel like there's like just some pretty standard like assessments or questions that like should be asked as part of like just the planning process?
00:24:23.279 --> 00:24:29.839
Yeah, I think even just slowing it down to the process if you can, which is really hard.
00:24:29.920 --> 00:24:33.839
Cause a lot of times, I mean, one if they have a very burning question, you have to address that, right?
00:24:33.920 --> 00:24:34.559
Like you can't.
00:24:34.880 --> 00:24:38.240
And that I learned for sure doing like a plan with someone.
00:24:38.480 --> 00:24:40.319
And they just wanted to know if they were on track.
00:24:40.559 --> 00:24:43.680
Like, I could have showed them e-money at the second meeting.
00:24:44.000 --> 00:24:49.920
And I'm like back looking back, I'm like, they were kind of stuck on just that, and it like prevented them from talking about other things.
00:24:50.160 --> 00:24:51.759
So that was definitely something I learned.
00:24:51.839 --> 00:24:55.279
But I think having like, can you have two discovery meetings?
00:24:55.359 --> 00:24:57.519
And that can feel like, oh, that's a lot.
00:24:57.759 --> 00:25:05.680
But I feel like the first one, it's can kind of scratch the surface of what their goals actually are.
00:25:05.920 --> 00:25:15.599
And at that point, it's like, if whatever kind of exercise or assessment you're using, if you can kind of build, like if it the first one is kind of, where are you now?
00:25:15.839 --> 00:25:16.720
Where are you now?
00:25:16.880 --> 00:25:27.519
And like how satisfied you are with, and just not asking about, you know, finances, obviously, asking about other goals that they have, but getting a clear sense of like what's important to them now.
00:25:27.680 --> 00:25:38.000
And then the next meeting is more like, okay, so now that I have a better understanding of what your preferences are, what your values are, let's really talk about what your vision is for your ideal future.
00:25:38.240 --> 00:25:45.440
And I think just slowing it down and giving people the time and the space to really think about instead of just like, what are your goals?
00:25:45.680 --> 00:25:48.000
That's such a loaded question.
00:25:48.240 --> 00:26:04.160
So I think like developing, even if it's like just developing a few questions around that, and again, slowing down the process, I think there's so much that we just expect now that's gonna be immediate, and it's typically not as meaningful.
00:26:04.319 --> 00:26:06.319
It's really and that can be really hard.
00:26:06.640 --> 00:26:12.960
Yeah, and to your point, because if clients are coming in and like something's on fire, like we want to put the fire out first.
00:26:13.119 --> 00:26:20.559
And so, you know, to go in and like approach it with like a let's talk about your vision and values when something's on fire.
00:26:20.799 --> 00:26:28.480
Yeah, they're like, no, that is not going to connect in the way that you want it to.
00:26:28.640 --> 00:26:29.039
Yeah.
00:26:29.200 --> 00:26:29.680
Yeah.
00:26:30.000 --> 00:26:33.759
One of the fastest ways to probably lose a client, right?
00:26:34.079 --> 00:26:36.000
Is to not not meet them where they are.
00:26:36.160 --> 00:26:38.079
So I think that's an important point, right?
00:26:38.240 --> 00:26:47.119
We can utilize these assessments, we can have these great conversations that can be like the standard way of operating and doing.
00:26:47.200 --> 00:26:51.680
But if something's on fire, let's first meet them where they are and put the fire out.
00:26:51.839 --> 00:26:52.079
Yes.
00:26:52.240 --> 00:26:52.720
Um, yeah.
00:26:52.880 --> 00:26:59.039
Because once that's put out mentally, emotionally, like psychologically, like they will be settled enough.
00:26:59.519 --> 00:26:59.920
Yeah.
00:27:00.160 --> 00:27:07.599
And I think for me in that scenario is like, in my head, I was like, well, how do they not know that based on but it's like, no, they didn't.
00:27:07.759 --> 00:27:07.920
Right.
00:27:08.000 --> 00:27:08.480
Yeah, yeah.
00:27:08.720 --> 00:27:10.799
But I'm like, it seems so clear.
00:27:11.119 --> 00:27:11.200
Right.
00:27:11.359 --> 00:27:17.359
And so it's like, how do we like make sure we're in their like how they're thinking, right?
00:27:17.599 --> 00:27:18.400
Yeah, absolutely.
00:27:19.119 --> 00:27:19.519
Absolutely.
00:27:19.680 --> 00:27:20.319
It is.
00:27:21.039 --> 00:27:36.720
Okay, Amanda, any other tidbits, nuggets, information, pointers, tips that you want to give those out there who are listening and thinking about how do we incorporate and/or use assessments within our practice?
00:27:37.039 --> 00:27:40.480
I think it's just like, don't be afraid to try something.
00:27:40.640 --> 00:27:49.279
I mean, I have this, you know, with other areas, but it's like we are so nervous about saying the right thing and doing it in the right way.
00:27:49.440 --> 00:27:52.640
Are they gonna think this is like you haven't even tried anything, right?
00:27:52.799 --> 00:27:59.440
So just try something, whether it's like go on Claude and like find some questions to ask and maybe again ask one question.
00:27:59.519 --> 00:28:16.799
I think like starting really small, if you're nervous, talking to people like yourself and other providers to get a good sense of what would this actually look like and to start just experimenting things, just how you tell your clients, you know, to experiment with when they're thinking about retirement or whatever a major transition.
00:28:17.039 --> 00:28:25.200
And people, and I think the other thing is people are more open than you think to again, and if you are able to deliver it with confidence, they're gonna feed off of that.
00:28:25.359 --> 00:28:32.960
So if you ask a question that you think is gonna be, oh, maybe they're gonna question why I'm asking it, it's like just try it, right?
00:28:33.200 --> 00:28:33.920
Yeah, yeah.
00:28:34.160 --> 00:28:34.960
I think that's fantastic.
00:28:35.200 --> 00:28:36.079
I think that's fantastic.
00:28:36.319 --> 00:28:42.160
Easier said than done, but also I think those are fantastic, just like points, like all around.
00:28:42.319 --> 00:28:44.160
Keep it small, just start, right?
00:28:44.240 --> 00:28:47.359
Starting is more important than it being perfect, right?
00:28:47.680 --> 00:28:52.319
So just start somewhere, but start small and keep doing that and build.
00:28:52.559 --> 00:28:54.720
And also you're a hundred percent right.
00:28:54.799 --> 00:28:58.079
Like clients are more open than what you think that they are.
00:28:58.319 --> 00:28:58.960
Yes.
00:28:59.279 --> 00:29:04.720
And so building a little bit of that internal confidence there to say, okay, I'm gonna try this.
00:29:04.960 --> 00:29:05.920
And yeah.
00:29:06.240 --> 00:29:12.400
If people are listening now and they're like, man, this is good stuff, and I'd like to pick Amanda's brain.
00:29:12.559 --> 00:29:15.599
I know I'm kind of putting your time out there, so apologies there.
00:29:15.680 --> 00:29:21.039
But if people are like, I want more Amanda in my life, I want to pick her brain, I just want to know a little bit more about what she's doing.
00:29:21.200 --> 00:29:22.000
Where can they find you?
00:29:22.079 --> 00:29:23.200
Where can they connect with you?
00:29:23.519 --> 00:29:26.160
Yeah, so I'm on LinkedIn as I'm saying this.
00:29:26.319 --> 00:29:28.079
This is gonna make me want to post more.
00:29:28.240 --> 00:29:31.440
And so this is my version of like, just do something on LinkedIn.
00:29:31.680 --> 00:29:32.160
I love it.
00:29:33.920 --> 00:29:35.920
So here's me publicly saying that.
00:29:36.160 --> 00:29:40.960
My website, I have a website, amandadelmonico.com, and then also Max Your Dash Advisors.
00:29:41.200 --> 00:29:41.599
Wonderful.
00:29:41.680 --> 00:29:48.000
We'll make sure that we include those links there and to your LinkedIn profile so that people can say, Amanda, what are you up to?
00:29:48.480 --> 00:29:48.880
What are you doing?
00:29:48.960 --> 00:29:49.519
Are you trying something?
00:29:49.759 --> 00:29:50.160
What are we doing?
00:29:50.240 --> 00:29:51.039
Are you trying something?
00:29:51.200 --> 00:29:51.599
Yeah.
00:29:51.920 --> 00:29:56.079
I apologize in advance for any of those messages that you may receive.
00:29:56.240 --> 00:29:58.000
Well, Amanda, thank you so much for coming on.
00:29:58.160 --> 00:30:02.640
Thank you for sharing all of your insights, all of your wisdom here today with us.
00:30:02.960 --> 00:30:08.400
And thank you to all of you for allowing Amanda and I into your ears and into your mind today.
00:30:08.559 --> 00:30:13.200
It's a part of your week that you don't have to give us, but you're choosing to.
00:30:13.359 --> 00:30:17.759
And for that, I think I speak for Amanda and I and saying that we're both incredibly grateful.
00:30:18.000 --> 00:30:23.680
If this conversation resonated with you, I would also like to keep the conversation going.
00:30:23.839 --> 00:30:29.839
You can connect with me on LinkedIn at Ashley Qualmy, where I share weekly insights on the human side of planning.
00:30:30.000 --> 00:30:37.920
If you'd like a little bit more beyond the plan in your life, you can head over to our website, sign up for our monthly newsletter.
00:30:38.079 --> 00:30:45.759
You can also check out our soon-to-be newly released advisor skill school.
00:30:46.079 --> 00:30:52.480
This will be a fantastic offering that we have coming out here January 2027.
00:30:52.799 --> 00:31:07.759
If you'd like more information about how you can be a part of Advisor Skills School, learning all of the relational skills, some of which we talk about here with guests on the podcast, but also much that Meg and I also talk about in our writings and in some of the content we put out.
00:31:07.920 --> 00:31:13.680
If you'd like to know more about Advisor Skill School, please don't hesitate to reach out to us and let us know.
00:31:13.839 --> 00:31:16.319
We'd love to connect you with the information.
00:31:16.559 --> 00:31:28.720
But most importantly, I want to make sure that you follow the show, Planning and Beyond, wherever you get your podcast, so that you never miss a future conversation like this one.
00:31:28.960 --> 00:31:33.839
And as always, my friends, remember finances don't have feelings, but your clients do.
00:31:34.079 --> 00:31:38.799
Until next time, keep planning, keep growing, and keep going beyond.
00:31:41.119 --> 00:31:44.319
Thanks for joining me on this episode of Planning and Beyond.
00:31:44.480 --> 00:31:50.319
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00:31:50.559 --> 00:31:55.920
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00:31:56.160 --> 00:32:01.359
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00:32:01.599 --> 00:32:09.519
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00:32:09.920 --> 00:32:16.559
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