Ever wondered why clients resist making financial decisions during life's biggest changes?

By focusing on change management and behavioral finance strategies.

Erin Wood, Senior Vice President of Financial Planning at Carson Group, joins Ana Trujillo Limón, Director, Editorial, to explore how financial advisors can support clients during major life events. 

Drawing on Bruce Feiler's concepts of "flashbulb moments" and "life quakes," Erin shares actionable steps for incorporating empathy and structure into planning.

Listeners will learn how to apply behavioral finance insights, overcome decision paralysis, and enhance client outcomes through strategic environment adjustments and refined financial approaches.

Erin discusses:

• How change management principles help advisors guide clients through career changes, loss, and other significant life events
• The influence of "flashbulb moments" and "life quakes" on financial behaviors, and how advisors can navigate these pivotal experiences using Bruce Feiler's framework
• The five stages of change—pre-contemplation, contemplation, preparation, action, and maintenance—and how to support clients through each stage, especially when partners are at different phases
• Common behavioral biases, including money avoidance, money worship, and money vigilance, and tools like the "postcard exercise" to uncover clients' financial priorities
• Effective methods for overcoming decision paralysis to help clients move past indecision, address biases, and achieve aligned financial goals
• How small changes in the environment, inspired by Dr. Wendy De La Rosa's insights, can enhance financial discipline, such as pairing budgeting with rewards
• The importance of continuous learning in behavioral finance, with recommendations for certifications like the Behavioral Financial Advisor (BFA) for practical application
• And much more!

Resources:

• Bruce Feiler
• Ep. 254: Understanding Behavioral Finance to Improve Client Outcomes with Dr. Wendy De La Rosa

Connect with Ana Trujillo Limón: 

• Carson Group LLC
• LinkedIn: Ana Trujillo Limón

Connect with Erin Wood:

• LinkedIn: Erin Wood, CFP®, CRPC®, FBS®
• Sweet Financial Partners
• Carson Wealth

About Our Guest: 

Erin Wood is an experienced financial planning professional with a focus on behavioral finance and change management. She helps clients and advisors navigate the complexities of life transitions by integrating empathy and evidence-based strategies into financial planning. Erin is passionate about continuous education and practical applications of behavioral finance to create more meaningful client relationships.

Send us your questions, we’d love to hear from you! Email us at [email protected].