AFO|Wealth Management Forward

In this episode, Rory speaks with Ohan Kayikchyan, PhD in Economics, CFP®, Registered Life Planner®, Enrolled Agent, and founder of Alohana Financial, about the deeper relationship between money, meaning, and purposeful living. Ohan shares his journey from immigrating to the United States from Armenia with limited English to building a life planning focused advisory practice centered on helping clients uncover what truly matters to them. Drawing from George Kinder’s EVOKE® Life Planning process, he explains why traditional financial planning often misses the emotional and behavioral side of money and how meaningful conversations can help clients align their finances with their values, relationships, and aspirations. They discuss the difference between meaning and purpose, why so many successful people still feel something is missing, and how practices like improv, reflection, and mindful spending can help individuals reconnect with themselves. Ohan also explores why “pay yourself first” is more behavioral than financial and how budgeting can become a mirror of our values rather than just a spreadsheet exercise. Want to know how better conversations can lead to a more fulfilling financial life? Curious how life planning can help clients move beyond achievement and toward alignment and purpose? Find out the answers to these questions and more in this thoughtful conversation with Ohan Kayikchyan. Alohana Movements Blog: https://alohanafinancial.com/what-is-an-alohana-moment/*Rory Henry is a registered investment adviser representative of Arrowroot Family Office. This podcast is published independently through Advis-ROR®, an outside business activity, and does not represent the views of Arrowroot Family Office.  It is intended for informational and educational purposes only and does not constitute investment advice. Ohan Kayikchyan is not a client of Arrowroot nor was there any compensation for his inclusion in this podcast.

In this episode, Rory speaks with Hal Hershfield, a professor at UCLA Anderson School of Management and the author of "Your Future Self". They explore the concept of 'Mental Time Traveling' and the science behind creating a vivid visual picture of our future selves to make better decisions today. Hal shares insights on 'Projection Bias' and the 'Extreme Discounting of Future Rewards', explaining how our current state can cloud our future decisions and how our preferences can drastically reverse when faced with immediate rewards. He also discusses the role of the temporal parietal junction in our brains, explaining its crucial role in fostering empathy and perspective-taking, which can help us better understand and empathize with our future selves. Additionally, Hal discusses the role of algorithms in predicting our preferences and the potential of commitment devices we can use as guardrails for our future behavior. Curious about why Hal used images of Matt Damon and Natalie Portman in his research on connecting with our future selves? Ever wondered what the real-life serial killer, who inspired the show 'Dexter', has to do with our future self-concept? Tune in to this episode with renowned research and UCLA Professor Hal Hershfield to find out more.

In this episode, Rory and Diane Young, Managing Director at Arrowroot Family Office, are joined by Dr. Daniel Crosby, Chief Behavioral Officer at Orion Advisor Solutions, a leading turnkey Asset Management Platform that serves over 2100 Firms. He has a Ph.D. in Psychology from BYU, and he recently co-authored a New York Times Best-Selling Book titled Personal Benchmark: Integrating Behavioral Finance and Investment Management. In this episode, Daniel talks about the 3 E’s that finance professionals need to use when advising clients: Education, Environment, and Encouragement. As advisors, we need to educate our clients, set up the right environments and offer encouragement like personal trainers and nutritionists do. Find out why he believes we are working with an iPhone 1 brain in an iPhone 13 world since it’s been 150,000 to 200,000 years since our brains have been upgraded. We were designed to keep ourselves from scarcity and starvation but live in a world where, at least in the West, more people die of obesity than starvation. Daniel also touches on the importance of making financial decisions when in the right state of mind and uses the Acronym HALT to communicate how people make statistically worse decisions when they are (Hungry, Angry, Lonely, or Tired). Find out how research on criminals in the Norwegian Underworld has shown how people spend, save, and invest their money differently based on how they generate it. Don’t miss out on this exciting episode to learn more about the human condition and how we view and interact with money.

Rob and Rory speak with the CEO and co-founder of Trust & Will, Cody Barbo. Trust & Will has helped over 200,000 families start their estate plan using their online technology and have transformed the way families plan for their future through affordable and straightforward estate planning. Cody describes the motivation behind creating a modern, intuitive, and affordable solution as an alternative to high-priced attorneys and inefficient processes. He emphasizes the affordability and accessibility of their estate planning platform, which has a Turbo Tax type experience that can be completed in 30 to 45 min. He talks about the importance of having a Trust if you have a property so that it doesn’t fall into probate. We discuss how the world is becoming digital and how Cody has been leading the charge for legislation that allows digital signatures of Will’s, which has recently passed and adopted in a few states. Learn about the basics of estate planning: Trusts, Wills, Guardianship, and Health Care Directives. For Advisors, find out how you can utilize Trust & Will to offer your clients these value-added estate planning services. Whether you need to set up an estate plan for the first time or update an existing one, you won’t want to miss this episode.