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Episode Summary

In his book, The Geometry of Wealth, Brian Portnoy says, “The size of your bank account and your general contentment are conflicted because of how the human brain is wired.”

And, when you’ve worked with enough people and their finances, you know exactly what this means.

The client who has millions in their bank account is no more likely to be fulfilled or content than the client with a few hundred thousand.

Or the pre-retiree that thinks “If I can just reach $____ in savings, then I can leave my job and have more free time.” Only to realize two months later that they no longer have structure, identity or community.

Maybe it’s the business owner who repeatedly tells his family that he’ll be able to dial back his work and spend more time with them once he reaches _____.

Money is notorious for promising the illusion of fulfillment. That it can create meaning, happiness and contentment. There are countless stories with evidence to the contrary.

However, once you can align money with meaning, the happiness and contentment starts to come into focus. Once you map money to meaning you are able to achieve funded contentment – the ability to underwrite a meaningful life.

Mapping money to meaning requires the ability to understand financial strategies while also identifying and illuminating the ingredients that make up a meaningful life.

Financial advisors excel at the money side of the equation. But, when it comes to helping your clients discover how to illuminate the ingredients of a meaningful life, we usually fall short.

Fortunately, Brian Portnoy, has written two books on the topic and consults teaches advisors around the world how to help their clients map money to meaning on the path to funded contentment.

After all, Brian says “Psychology, not finance, is most important in achieving our long-term financial objectives.”

Things You’ll Learn

  • A real, tangible definition to understand what financial wellness or financial well-being means in the lives of clients
  • How he would explain funded contentment to his kids and what a life of funded contentment looks like
  • The “4 C’s” of Contentment – the four enduring sources of a joyful life
  • The behavioral and psychological challenges inherent with goals-based planning and why most advisors are ill-equipped for goals-based planning
  • The case for “Purpose-Based” Wealth Management as a better version of goals-based wealth management
  • The story of the quarter-inch drill to illustrate the difference between what clients say they want and what they actually want
  • The dimensions of behavioral coaching beyond simply keeping your client invested in the market
  • How Shaping Wealth is working with advisors to develop the skills to better manage humans and have better conversations with clients on the path to funded contentment

About Brian Portnoy

Brian Portnoy, CFA, PhD has been a speaker, a writer, an educator, an investor, an entrepreneur and a lot more over the course of his career in the industry. And it’s all rooted in his passion to simplify the complex world of money.

Between his two books, keynote speeches, and private consultations, Brian leverages insights from social psychology, neuroscience, and behavioral finance to help us make better financial decisions, and more importantly, how money figures into a meaningful life.

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