35: The Tools To Assess, Predict, and Change Client Behavior with Sarah Fallaw

Imagine going into a meeting with a complete picture of your client’s money mindset. You know exactly how they like to communicate about money, that they have a tendency to “keep up with the Joneses”, and that they are likely to panic when the market plummets. Armed with that information, you would know exactly which behaviors to focus on changing to improve their financial outcomes. But, that kind of information is not readily apparent and difficult to uncover. Which is why behavioral assessments are on the rise around the industry. They have the ability to deliver that information faster and more reliably. Sarah Fallaw founded DataPoints to equip advisors with these assessments and show them how to use them in their practice. We discuss: The four tools that Sarah recommends advisors use to help assess their client’s money mindset How do these tools help to first bring awareness to behavioral issues and why that’s so important to changing behavior How to communicate to client the benefits of better understanding their own beliefs and behaviors The problem with most risk tolerance questionnaires And way more! To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here Connect with Brendan Frazier:  RFG Advisory LinkedIn: Brendan Frazier X:@jbrendanfrazier