The Psychology of Financial Planning: Practitioner Resource Guide

The Psychology of Financial Planning: Practitioner Resource Guide is written by financial planning practitioners for financial planning practitioners. Comprehensive, fiduciary financial planning is much more than being competent at financial planning technical skills. In order to maximize a financial planners’ value to clients, they must also be able to communicate effectively and deliver recommendations in a way that moves client motivation forward through recommendation implementation.This guide is intended to complement The Psychology of Financial Planning by providing financial planners with resources and tools to incorporate the psychology of financial planning into their practice.

Key Highlights:

• The Psychology of Financial Planning: Practitioner Resource Guide is a companion volume to The Psychology of Financial Planning. The Psychology of Financial Planning provides the what; The Psychology of Financial Planning: Practitioner Resource Guide provides the how.
• The Psychology of Financial Planning: Practitioner Resource Guide addresses every principal knowledge topic for the psychology of financial planning domain.
• Includes step-by-step guides, do's and don'ts lists, exercises, assessments, examples and other helpful figures and lists.

Topics Covered:

• Understanding risk tolerance, including measuring risk tolerance and the impact of risk tolerance on financial decisions
• How to develop and maintain a successful client-planner relationship, including how to forge a trusting relationship
• How to gather data about clients' goals and values, as well as addressing clients' cultural values
• Understanding how cognitive biases and heuristics impact a client's financial decisions
• Identifying clients' psychological barriers, including pathological financial behaviors such as compulsive buying disorders, hoarding, financial dependence and financial enabling
• How to build a clients' motivation to achieve their financial goals
• Examining couple and family financial transparency, including facilitating goal congruence
• How to recognize and mediate financial conflict
• Identifying financial manipulation and abuse
• Utilizing verbal and nonverbal communication
• How to help your clients navigate change and crisis situations