Show Links


*If you want to be notified when the next episode packed full of practical tips and strategies to master the human side of money will be released, you can:

  • Subscribe to the Show
  • Join the community of like-minded advisors and planners across the world being notified via email. In addition to podcast releases, you’ll get our monthly “Wisdom Round Up” where we deliver to you the best content from around the industry on applying behavioral finance and mastering the human side of money.

*The featured partner for this episode is a must-have tool for helping clients follow-through and implement advice. After all, the best advice is useless in the absence of execution. Rather than stressing about follow up calls and emails, Knudge provides a built-in system designed to improve follow-through.

Episode Summary

There have been MILLIONS of clients served by financial advisors around the world over time.

Of all those clients, the number who actually cared about maximizing their net worth is zero.

The number who care about maximizing their life is all of them.

Take, Scott as an example.

He’s 62 and just retired.

He worked tirelessly for decades at a job he hated to hit his goal of retiring early at age 62.

But, what met him at the finish line wasn’t joy and relief.

It was disappointment and regret.

He described it like this, “I may have accomplished my ‘goal’ to retire early. But, the decades of working for this moment cost me my health,  my close relationships, and most importantly, my youth.”

Money is never a goal. Money is a tool.

A tool that funds the life you want to live.

derek hagen financial purpose

(Credit: Derek Hagen – Check out more great visuals like these on his website)

Once you’ve identified the life you want to live (values, aspirations, intentions) and aligned it with your money, you’ve defined your financial purpose.

And, your financial purpose becomes the lens through which you view all of your financial decisions. 

It ensures that you’re using your money intentionally, in a way that’s congruent with the life you want to live.

As Roy Disney says, “When your values are clear, your decisions are easy.”

But, the challenge is knowing how to guide a prospect or client through the process of identifying the life they want and defining their financial purpose.

Fortunately, that’s exactly what Derek Hagen does with his clients.

And, he teaches advisors how to take clients through a process that defines their financial purpose by focusing on money as a tool rather than a goal.

Things You’ll Learn

  • Where he recommends advisors and planners start when trying to learn the human side of advice
  • The insights and exercises he learned from the Exquisite Listening trainings by Ted Klontz
  • The three components of a meaningful life
  • His four-step process to help clients get “unstuck”
  • An example of how he would use his process to help a client reign in their spending
  • A breakdown of the four exercises he uses with new clients (Money Egg, Money Atom, Life-In-Perspective and Values Cards)
  • The importance of a “Statement of Financial Purpose” and how to help clients craft their own
  • Why we should diversify meaning in life just like we diversify portfolios
  • The “ABC Process” that helps clients overcome their money scripts and improve their behavior

About Derek Hagen, CFP®, FBS®, CFT-I™, CFA, CIPM

Derek Hagen is a financial behavior expert and founder of Money Health Solutions, a financial therapy and financial life planning firm that helps clients who feel stuck.

He has been featured in The Wall Street Journal, Business Insider, Yahoo! Finance, US News and World Report, and Nasdaq.

He writes about the psychology of money using personal stories and simple drawings on the Money Health newsletter and blog. He speaks to consumer and professional audiences about the psychology of money and intentional living.

Other Episodes You’ll Like On Money And Meaning


Derek Hagen

Money Health Solutions

Derek Hagen LinkedIn

Derek Hagen Twitter

Money Health Solutions – Personal Values Cards Deck

Money Health Solutions – Financial Psychology Assessments

Motivational Interviewing – Personal Values Cards Sort

The Subtle Art of Not Giving a F*ck: A Counterintuitive Approach to Living a Good Life by Mark Manson

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

Financial Therapy: Theory, Research, and Practice by Brad Klontz, Sonya Britt, and Kristy Archuleta


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.