Aligning a client’s values with their financial decisions is often touted as a best practice for financial advisors. It’s time to reexamine that premise.

Here’s a quote attributed to P. J. O’Rourke, an American author, journalist and political satirist: “There is a simple rule here, a rule of legislation, a rule of business, a rule of life: beyond a certain point, complexity is fraud.”

Successful advisors are persuasive. They understand persuasion is critical to converting prospects into clients and keeping them as clients.

By incorporating these practical suggestions into your meetings, you can effectively leverage the power of likability and high-quality evidence to build trust and increase your assets under management.

Many financial advisors exhibit a risk-averse attitude, leading to missed opportunities for growth and innovation.

Here are some lessons from interviewing financial advisors and insights into the traits that lead to a recommendation.

The ability of AI to demonstrate empathy holds great promise for enhancing user interactions and support services. However, its current limitations highlight the irreplaceable value of human empathy.

When dealing with millennials and often with more seasoned investors, it’s important to understand their barriers to acceptance of a boring approach to investing.

Here’s how to conduct yourself as an advisor if you want to demonstrate that you care about your clients.

The myth of work-life balance has perpetuated unrealistic expectations and unnecessary stress. By recognizing the fluidity of life and embracing a more flexible approach, you can find greater fulfillment and mental well-being.

AI and automation will revolutionize the financial advisory industry. These technologies enhance efficiency, improve client communication, and enable data-driven decision-making. By 2035, AI will be integral to most advisory firms.

Financial advisors can future-proof their businesses and maintain their relevance in an increasingly tech-driven world by combining human expertise with AI’s efficiency and analytical prowess.

I have long admired Jonathan Clements. His columns in The Wall Street Journal introduced me to index-based investing. I was deeply saddened to read his column in HumbleDollar, dated June 15, 2024, that, at age 61, he has been diagnosed with lung cancer that has metastasized to his brain and “a few other spots.”

Understanding how to act ethically and appropriately as an advisor is apparently no easy task.

Here’s why giving up the pleasure of talking will lead to more conversions.

Will AI accelerate the consolidation trend, or could it be the great equalizer that allows smaller firms to remain competitive?

When clients express a pragmatic approach to their terminal diagnosis, respect their perspective. Acknowledge their desire to avoid prolonged suffering and financial burden. Assure them you will work diligently to help achieve their goals and honor their wishes.

Few advisors are prepared for the massive change coming to the advisory profession. It will not be a slow rollout over decades. In three to five years (if not sooner), how advisors do business will fundamentally change.

Despite the availability of advance directives, many patients still receive aggressive, life-sustaining interventions that may not align with their preferences or improve their quality of life.

The idea that power is inherently corrupting has been repeatedly proven throughout history. From politics to business to religion, there are countless examples of individuals who succumb to corruption and abuse their authority.

Harness contrarian perspectives in a discerning manner – don’t be contrarian just for the sake of it.

The path to responsible investing is complicated by individual differences in personality traits and decision-making processes.

Our profession is being transformed by powerful, AI-based technologies that will replace human-based financial advice. They will drive down costs, reduce valuations, and deflate the multiples paid in M&A transactions.

Research from various scientific fields suggests that many of our fears about death are unfounded or exaggerated.

When a spouse dies, many women face severe financial hardship despite being part of a married couple for decades. This "widowhood penalty" results from men failing to ensure their wives are financially secure if tragedy strikes.

You're accustomed to analyzing market trends, understanding financial products, and strategizing to achieve your clients' financial well-being. But there's one crucial question you have been overlooking…

My workday looks a lot different now. The dramatic change is because of AI. Yours will change too.

There’s a lot of discussion about why prospects hire you, why they don’t follow your advice, and the value you add. Much of this discussion isn’t based on research, which is curious because there are studies on each subject.

A groundbreaking study has shifted the spotlight from data and numbers to a softer skill: emotional intelligence (EQ).

Losing a parent is devastating. Losing both in a short time creates a unique set of emotional and practical challenges.

Your choice is stark: Adapt to engage this emerging demographic or risk obsolescence.

While it may seem natural to entrust family members or close friends with an end-of-life choice, there are valid concerns about the emotional bias loved ones bring to decision-making.

While the ability of humans to demonstrate empathy is invaluable, few appreciate the impact of “artificial empathy,” which is incorporated into AI and is likely to become more sophisticated.

If you aren’t familiar with neurofinance, this article will be an eye-opener.

One powerful and underutilized marketing strategy is client testimonials and reviews.

There's a fascinating psychological phenomenon known as the "curse of knowledge," which suggests that having expertise in one area, like finance, can impede effective communication.

In the quest for happiness for ourselves and our clients, we pursue self-improvement, personal achievements, and the accumulation of material possessions. But what if this emphasis impairs our ability to find it?

Those facing the end of their lives often express regret about not pursuing their dreams and aspirations.

Offering unsolicited advice has the highest potential to destroy the trust between you and your client.

I had a recent experience with an ultra-high net-worth investor that was disturbing.

Don’t waste your money on lead-generation programs, white-label content, or consultants who overpromise and fail to deliver.

The highest compliment I receive from clients is when they tell me they don’t feel like our relationship is transactional.

My previous webinars were sponsored by my clients. Everything was handled for me. With this one, I was entirely on my own.

A client-centric approach, focused on empowering prospects and clients rather than directing them, is more persuasive and will lead to a more productive, meaningful relationship.

A recent study found significant differences in how our brains process in-person meetings and Zoom calls versus in-person meetings.

Harness the power of neuroscience and psychology to help your clients reach their long-term planning goals.

I don’t understand why it’s necessary to have an elaborate screening process to deal with prospects.

Dimensional’s new ETFs are good news for investors but raise issues for advisors.

Over the past two weeks, I’ve met with more than a dozen vendors. Here’s what I learned.

The most challenging assignments I receive start with the advisor asking: “I had a great meeting with a prospect. Now I’m being ghosted. What should I do?”