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Episode Summary

Clients care more about maximizing their life than their net worth.

And that’s why financial advice at the highest level isn’t about the accumulation of money.

It’s about the alignment of money with what’s most important in the client’s life.

Yes, as a financial advisor/planner you unquestionably have the financial knowledge and strategies to help clients grow their money.

But, does it matter if you have all the money in the world and dread getting out of bed every morning?

Think about the client whose business has taken off in a way she never imagined. More revenue, more income, more wealth. It’s what she thought she always wanted.

Only her husband has recently filed for a divorce and she hasn’t been to any of her kid’s baseball games in months.

Or the client who finally retired with more money than he could ever spend.

Six months later, he’s feeling unmotivated, purposeless and lacking direction.

This is why Dr. Preston Cherry is so adamant about helping his clients achieve “Life Money Balance.”

Or in other words, “let your life lead your money, not your money lead your life.”

It’s the focus of the work he does with his clients, and he joined us to share his framework that he takes clients through to help them achieve life money balance.

Things You’ll Learn

  • “Statements tell stories” – what type of information you can glean simply by looking at statements
  • The Emotional HSA (Honest Self Audit): A crucial step in achieving life money balance
  • The “Money Psychology” meeting he takes all new clients through to identify what’s important in their lives
  • How he responds when clients ask when they’re going to get to the numbers
  • A question to ask that reveals both quantitative and qualitative data
  • The Money Egg Exercise he uses in the “Money Psychology” meeting
  • How to work with clients through “spend-shaming”
  • The power of reframing a “savings plan” to a “spending plan”

About Dr. Preston Cherry, CFT-I™, CFP

Preston Cherry is the Founder and President of Concurrent Financial Planning, the head of the financial planning program at the University of Wisconsin-Green Bay, a coach for financial advisors at Carson Group Coaching, and currently serves as the President-elect of the Financial Therapy Association.

He’s also a keynote speaker, researcher, writer, and podcaster and was named of one Investopedia’s Top 100 Financial Advisors.

Other Episodes You’ll Like From Advisors Focused On The Human Side


Dr. Preston Cherry LinkedIn

Dr. Preston Cherry Twitter

Concurrent Financial Planning

The Life Money Balance Podcast

Money Egg Exercise

Facilitating Financial Health: Tools For Financial Planners, Coaches, and Therapists by Brad Klontz, Rick Kahler, and Ted Klontz

HSOM Episode 41: How Financial Coaching Skills Enhance Communication, Connection, and Follow-Through with Saundra Davis

Rick Kahler

Shaping Wealth

Maximize The Moment: God’s Action Plan For Your Life by T.D. Jakes

The Alchemist by Paulo Coelho and Alan Clarke


Whenever you’re ready, there are 3 ways I can help you master the human side of advice:

  1. HSOA Masterclass: An 8-week group program on building trust & connection, aligning money and life, and delivering frictionless advice.
  2. The Ultimate Discovery Meeting: A proven framework to seamlessly convert prospects into life-long clients in one meeting.
  3. HSOA Community (COMING SOON!): An online space to meet, collaborate, discuss, brainstorm, learn and grow with other advisors passionate about the human side of advice

If you’re interested, let me know here.