Financial Psychology: The Competencies of Building Wealth
Monday, December 12, 2022
3:30 PM – 4:30 PM PDT
Location: SCC: 6A
CE: 1 CFP CE Credit(s)
Level of Complexity: Intermediate
Session Description: When it comes to building wealth, personality matters. Using data based on The Millionaire Next Door, six critical competencies (i.e., broad personality characteristics) were found to be related to a client’s net worth above and beyond age and income. This wealth-building model provides planners with a roadmap for educating and coaching clients to build and sustain wealth. In this session, you will learn about the model, how the factors impact financial success, and how to guide clients to transform income into wealth.
Learning Objectives:
Describe the six competencies of wealth building for Household CFOs.
Explain how competencies, and a combination of competencies, relate to financial outcomes, including income and net worth.
Critique their firm’s educational and coaching-related resources as they relate to the six competencies in terms of appropriateness for different client personas.
