35: The Tools To Assess, Predict, and Change Client Behavior with Sarah Fallaw
Play • 1 hr 19 min

Imagine going into a meeting with a complete picture of your client's money mindset.

You know exactly how they like to communicate about money, that they have a tendency to "keep up with the Jones's", and that they are likely to panic when the market plummets.

Armed with that information, you would know exactly which behaviors to focus on changing to improve their financial outcomes.

But, that kind of information is not readily apparent and difficult to uncover.

Which is why behavioral assessments are on the rise around the industry.

They have the ability to deliver that information faster and more reliably.

Sarah Fallaw founded DataPoints to equip advisors with these assessments and show them how to use them in their practice.

In this episode, we discuss:

  • The four tools that Sarah recommends advisors use to help assess their client's money mindset
  • How these tools help to first bring awareness to behavioral issues and why that's so important to changing behavior
  • How to communicate to client the benefits of better understanding their own beliefs and behaviors
  • The problem with most risk tolerance questionnaires
  • How using these tools can actually serve as a way to measure the behavioral value of advice

And way more!

*For more resources discussed in this episode, check out www.wiredplanning.com/episode35

*For more resources and insights on mastering the human side of money (including our popular "Wisdom Round-Up" email), go to www.wiredplanning.com.

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