Conventional wisdom claims that mixing emotions with financial decisions can lead to poor, even impulsive decisions. But what if we instead viewed emotions as super powers that we can harness to not only make wiser, but more meaningful choices for ourselves and our financial goals?

In this episode, we sit down with Brian Portnoy, author and founder of the financial advisor coaching and e-learning platform Shaping Wealth. The lessons on Shaping Wealth apply wisdom from psychology, behavioral science, as well as emotional intelligence to coach financial advisors to be better partners for their clients’ financial journeys.

In addition to Shaping Wealth, Brian is the author of three books—The Investor’s Paradox, The Geometry of Wealth, and How I Invest My Money. Brian also worked as the Director of Investment Education at Virtus Investment Partners, and was Head of Education at Magnetar Capital. Brian holds a PhD from the University of Chicago, as well as a bachelor’s from the University of Michigan.

For more, read Liz’s column every Thursday at On The Money by SoFi, sign up for the On The Money newsletter, and follow Liz @LizThomasStrat.

Notable mentions in the episode:

00:00 Introduction

01:31 Money and Emotions

04:44 Using Emotions to Make Better Financial Decisions

07:16 Emotions vs. Emotional Intelligence

09:19 Setting Expectations with Your Finances

13:58 Managing Emotions Through Market Volatility

17:22 Rich vs. Wealthy

21:15 Money and Happiness

25:13 Budgeting and Setting Goals

35:25 Getting Healthier About Our Financial Well-Being

38:55 AI and Financial Advising

47:51 Closing Thoughts

Additional resources:

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