Behavior Gap Radio

At a recent event, a young financial advisor asked me a question I think will resonate with many of you: what advice would give to your 25-year-old self? I loved the question, and as I answered it, I was reminded that the advice holds true even after 20+ years in the industry. Listening time: 2:50

Most personal financial advice is centered on finding "tips & tricks" to make spending painful...that didn't sound like a good idea to my wife. Listen to find out what she suggested instead. Listen time: 4:15

Often we act as if there is some pre-approved list of "needs" and then we hammer on ourselves or clients about "wants". What if we flip that and learn to question our needs and explore our wants? Would that lead to greater happiness around money? Time: 3:44

So called robo-advisors are not something to fear, but instead something that is giving us the opportunity to optimize for what is uniquely human: empathy and trust. Listening time: 5:58

Confirmation bias is super hard do deal with...and as financial advisor it is critical that we are at least aware of our own tendency to fall prey to it. Listening time: 12:03

Instead of learning how to justify the fee you charge a client, get so good at your craft that your value isn't a question.

This is Carl and you are listening to The Podcast for Real Financial Advisors all over the world and I want to talk about that statement, real financial advisors, there. I get asked about this like, "What does that mean? What does real financial advisor mean?" There are some really important things that it means and then there's a bunch of supporting stuff that I feel really strongly about, but isn't critical. I want to separate the two for a minute.

I am recording this in India as part of my tour of India, meeting financial advisors. I've met with hundreds of them in India. It's been amazing. I'm here to tell you that real financial advisors do indeed exist all over the world. I have met them in India, and they're amazing.

One of the things that I have been thinking a lot about today and talked with a good friend here in India on walk today, we walked through a section of Mumbai, and while we were walking, we were talking about the role of money and happiness. This hopefully will just serve as a reminder to all of you, but money does not equal happiness, right.

I'm on day, I think three or four in India and it has been amazing and I wish I knew exactly how to frame my thoughts around it. Other than just to say, if you've got a chance to come to India, take it, come. You need to come and see this place. The warmth of the people, the energy, the contradictions that you're sort of faced with each day, amazing, amazing. One of the things that I had a really interesting conversation last night, my event that I was speaking up wrapped up at about ... I was done talking at about, I think it was maybe 9:15 or 9:30 at night and then there was dinner afterwards. I was like, "It's 9:30 wait, we're having dinner?" Everybody there, there's somewhere around 100-150 people there and everybody had dinner. I was like, "Wow isn't it a little late for dinner?" They said, "No, no, no, this is what time we eat."