Planning & Beyond®

29. The Power of Story: How Financial Advisors Can Unlock Deeper Client Connections Through Money Narratives with Dr. Joy Lere


Listen Later

Text us to share what you found helpful!

What if the key to transforming your client relationships isn't in your financial planning software, but in your ability to understand and work with the stories your clients tell themselves about money? In this compelling episode, licensed clinical psychologist and co-founder of Shaping Wealth, Dr. Joy Lere, reveals why "we are not born as calculators, but as storytellers" – and how this fundamental truth can revolutionize your practice.

Dr. Lere brings a unique perspective that bridges clinical psychology with financial planning, offering advisors practical tools to uncover the money narratives that drive client behavior. Through her innovative "Read, Write, Edit" framework, she demonstrates how advisors can become skilled story stewards, helping clients examine their financial past, understand their present behaviors, and consciously craft the future they want to create.

This isn't about becoming a therapist – it's about recognizing that behind every spreadsheet is a human story shaped by years of experiences, beliefs, and emotions around money. Dr. Lere provides concrete conversation starters, explains how to navigate vulnerable moments without getting "lost in the weeds," and offers guidance on integrating storytelling naturally into your existing process.

Whether you're struggling with clients who say they're "bad with money," wondering how to deepen discovery conversations, or looking for ways to build stronger trust and connection, this episode delivers immediately actionable strategies that honor both the human and technical aspects of financial planning.


Key Takeaways:

  1. Stories Drive Decisions, Not Spreadsheets: Clients make financial decisions based on the narratives they've constructed about money, not purely on mathematical optimization. Understanding these underlying stories is essential for creating plans that clients will actually follow and feel confident about.
  2. The "Read, Write, Edit" Framework for Money Narratives: Start by "reading" (understanding your own money story first), then help clients "write" (uncover and examine their financial narratives), and finally "edit" (consciously reshape limiting beliefs and stories that no longer serve them). This systematic approach makes storytelling practical and implementable.
  3. Curiosity Over Correction: When clients make statements like "I'm bad with money," resist the urge to immediately correct them. Instead, use curiosity-driven questions like "What does it mean to you to be bad with money?" to uncover the deeper story behind their beliefs.
  4. Storytelling is Relational, Not Transactional: This isn't about adding a "story module" to your process – it's about approaching every client interaction with genuine curiosity about their human experience with money. Build trust over time rather than trying to extract deep revelations in the first meeting.


Resources and Guest Information:

  • LinkedIn: Joy Lere, PsyD
  • Substack: "Finding Joy" - Dr. Lere's musings about life, love, and work
  • Shaping Wealth 


Connect with Host Ashley Quamme:

  • Podcast Website: Planning & Beyond
  • LinkedIn: Ashley Quamme - Licensed Therapist & Financial Behavior Specialist
  • Beyond the Plan®: Financial psychology integration for advisory practices
...more
View all episodesView all episodes
Download on the App Store

Planning & Beyond®By Ashley Quamme

  • 5
  • 5
  • 5
  • 5
  • 5

5

27 ratings


More shows like Planning & Beyond®

View all
Hidden Brain by Hidden Brain, Shankar Vedantam

Hidden Brain

43,824 Listeners

The Daily by The New York Times

The Daily

112,522 Listeners

Up First from NPR by NPR

Up First from NPR

56,455 Listeners

Standard Deviations with Dr. Daniel Crosby by Dr. Daniel Crosby

Standard Deviations with Dr. Daniel Crosby

161 Listeners

The Perfect RIA by Matthew Jarvis, CFP® & Micah Shilanski, CFP®

The Perfect RIA

460 Listeners

The Compound and Friends by The Compound

The Compound and Friends

2,090 Listeners

Kitces and Carl - Real Talk for Real Financial Advisors by Michael Kitces, MSFS, MTAX, CFP and Carl Richards, CFP

Kitces and Carl - Real Talk for Real Financial Advisors

239 Listeners

Morning Brew Daily by Morning Brew

Morning Brew Daily

2,989 Listeners

The Prof G Pod with Scott Galloway by Vox Media Podcast Network

The Prof G Pod with Scott Galloway

5,448 Listeners

The Ezra Klein Show by New York Times Opinion

The Ezra Klein Show

16,009 Listeners

Money For Couples with Ramit Sethi by Ramit Sethi

Money For Couples with Ramit Sethi

3,372 Listeners

The Weekly Show with Jon Stewart by Comedy Central

The Weekly Show with Jon Stewart

10,767 Listeners

The Efficient Advisor: Tactical Business Advice for Financial Planners by Libby Greiwe

The Efficient Advisor: Tactical Business Advice for Financial Planners

133 Listeners

Dare to Lead with Brené Brown by Vox Media Podcast Network

Dare to Lead with Brené Brown

295 Listeners

Prof G Markets by Vox Media Podcast Network

Prof G Markets

1,306 Listeners