The value and future of financial advice is currently facing a crossroads as it shifts towards blending technical advice with the ability to change behavior.
In this episode, Brendan tells the story of a client meeting he observed that helped shine a light on the forces causing this shift and why most advisors and advisory businesses simply aren’t equipped to evolve and take advantage.
Using this meeting as the lens, he explores:
- Why the future of advice will be more focused on guiding clients through the process and changing behavior for the better
- How heart bypass surgeries, entrepreneurs, obesity, and marriages teach us that providing information and advice will never be a sustainable value proposition
- How pairing technical expertise and the human side of money provides massive benefits to your clients and your business
- The immense gap that exists between the skill set advisors possess and the skill set they need to evolve with this shift in value towards the human side of money
- What advisors can learn from hostage negotiators and therapists in this quest for a new skill set