Kathy Longo Speaks About The Challenges of Transitions to the Twin Cities Chapter of the Society of Financial Services Professionals

The Challenges of Transitions: Understanding the personal side of money.

05 02 2019 speaking

There are two sides of money; the technical and the personal. Both sides are equally important and complex, but it is the personal side that drives decision-making. Change is an integral part of the human experience. And change creates the space for new and different things to happen, both financially and personally. Even if we realize there are four stages to transition, that’s not sufficient guidance to help someone move through a major life change. The fact is that financial professionals aren’t taught a process that might increase the probability of seeing the opportunities change creates. Though traditional financial planning provides a process for all situations, that process wasn’t designed to navigate the personal side of financial change. This important limitation within financial planning leads to the exploration of other fields of study (e.g., neuroscience, psychology, sociology and leadership) to better support clients in transition. This integrative approach would offer a more rich and comprehensive understanding of how people subjectively experience change and how financial advisors can help co-create the highest outcomes with their clients. This presentation offered insight into the personal side of financial change and provided practical tools to work with clients in transition.

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