Psychology of Financial Planning Practitioner's Toolkit

by Klontz, Brad; Chaffin, Charles R.; Klontz, Ted

• ISBN13: 9781394153343
• ISBN10: 1394153341
• Edition: 1st
• Format: Paperback
• Copyright: 2022-12-08
• Publisher: Wiley

Summary

Tools to help financial planners become more effective

Psychology of Financial Planning: Practitioner's Toolkit is a practical, hands-on companion resource to the authors' Psychology of Financial Planning. It brings assessments, reflection and exercises that helps the financial planner better understand their own biases and behaviors as well as those of their clients. The Practitioner’s Toolkit includes exercise related to all of the learning objectives in the Psychology of Financial Planning that are found on the CFP® Exam.

This Practitioner's Toolkit offers a collection of tools designed to expand on aspects of the companion book, including assessments and exercises financial planners can use with their clients. It guides readers through the application of concepts explored in the Psychology of Financial Planning and encourages discussion and sharing with clients and members of planning firms.

Readers will also find:

• Tools and strategies to assist the financial planner in understanding client and planner attitudes, values, and biases,
• Explorations of multicultural competence, behavioral finance, and helping client’s navigate crisis events across a broad range of circumstances and financial planning clients,
• Exercises that focus on resolving common sources of money conflict, avenues to get the client to take action, client goal-setting, and principles of effective communication and facilitating change.

Designed for current and aspiring financial planning professionals and educators in financial planning across roles and business models, The Psychology of Financial Planning: Practitioner’s Toolkit is a must-have on bookshelves of practitioners from firms large and small.

Author Biography

DR. BRAD KLONTZ is an expert in financial psychology, financial planning, and applied behavioral finance. He is a clinical psychologist and a Certified Financial Planner^® practitioner. He is Associate Professor of Practice at Creighton University’s Heider College of Business and a Managing Principal of Your Mental Wealth Advisors, a Registered Investment Advisor (RIA). His unique background and perspective have helped make him a leading expert in financial psychology creating educational content that goes beyond just theory and can be directly applied into a real-world financial planning context.

DR. CHARLES CHAFFIN’s work encompasses a broad range of fields, from educational and cognitive psychology to financial planning. He has served as the author or lead editor of 6 different books within financial planning and cognitive psychology, helping practitioners become more client-centered and helping individuals and companies address the pushes and pulls on attention in the workplace. He has taught at the undergraduate and graduate level, as well as in a variety of executive education programs. For over a decade, Dr. Chaffin has worked with a variety of financial planning programs and led research initiatives that are directly or indirectly related to financial planning practice. He consults with financial service firms and is a regular keynote speaker at a variety of conferences.

Dr. PAUL T (TED) KLONTZ is an Associate Professor of Practice of Financial Psychology and Behavioral Finance at Creighton University’s Heider College of Business, Founder and CEO of Klontz Consulting Group and Co-Founder and Director of the Financial Psychology Institute^®. He has a 40+ year career in counseling, consulting and advising that has included authoring, co-authoring and/or contributing to six financial psychology related books: Money Mammoth: Unlocking the Secrets of Financial Psychology to Break from the Herd and Avoid Extinction; Mind over Money: Overcoming the Money Disorders that Threaten Our Financial Health; Wired for Wealth; Financial Wisdom of Ebenezer Scrooge; Facilitating Financial Health; Financial Therapy: Theory, Research, and Practice.

Table of Contents

Introduction: Understanding Your Client’s Financial Psychology

Chapter 1: Client Values & Goals

Chapter 2: Multicultural Competence in Financial Planning

Chapter 3: Financial Flashpoints: Exploring a Client’s Financial Background

Chapter 4: Money Scripts

Chapter 5: Financial Behaviors & Outcomes

Chapter 6: Principles of Effective Communication

Chapter 7: Client and Planner Attitudes, Values, and Biases

Chapter 8: Sources of Money Conflict

Chapter 9: Helping Clients Navigate Crisis Events

Chapter 10: Principles of Counseling in Financial Planning Practice

Chapter 11: Behavioral Finance in Financial Planning Practice

Chapter 12: Getting the Client to Take Action

Index