Unlocking the Power of Goals-Based Financial Planning 09-18-2024
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Unlocking the Power of Goals-Based Financial Planning
Presented by Ryan O. Murphy, Ph.D. and Samantha Lamas
In this webinar Ryan O. Murphy, Ph. D. Global Head of Behavioral Insights at Morningstar and Samatha Lamas, Behavioral Researcher at Morningstar explored the results of their study which tested the impact of a behavioral nudge—a master list of common goals—on helping investors identify their true priorities. The findings reveal a significant gap between initial goals and those that genuinely matter to clients. By overcoming these blind spots, advisors can create more accurate and motivational financial plans for their clients.
Attendees Comments:
A few comments from listeners when they were asked what the learned from the webinar:
Provides a basic approach to being able to open the discussion with clients about what their goals are - often not enough time and specifics is spent up-front on this topic during the planning process. Really like to checklist approach that provides thought starters for clients
- James M.
Interesting to learn about client's attention capacity. It affirms my belief that when asking clients about goals it is important to keep it simple
- Dawn T.
This was an excellent presentation.. It was interesting to have the process presented of how the checklist / behavioral approach was developed..
- Mark Z.
I thought this was a good topic because financial advisors don't always go so deep in conversation. In addition, confronting the health and financial goals together in the conversation as parallel goals.
- Susan S.
Provides a basic approach to being able to open the discussion with clients about what their goals are - often not enough time and specifics is spent up-front on this topic during the planning process. Really like to checklist approach that provides thought starters for clients
- James M.
Interesting to learn about client's attention capacity. It affirms my belief that when asking clients about goals it is important to keep it simple
- Dawn T.
This was an excellent presentation.. It was interesting to have the process presented of how the checklist / behavioral approach was developed..
- Mark Z.
I thought this was a good topic because financial advisors don't always go so deep in conversation. In addition, confronting the health and financial goals together in the conversation as parallel goals.
- Susan S.
Provides a basic approach to being able to open the discussion with clients about what their goals are - often not enough time and specifics is spent up-front on this topic during the planning process. Really like to checklist approach that provides thought starters for clients
- James M.
Interesting to learn about client's attention capacity. It affirms my belief that when asking clients about goals it is important to keep it simple
- Dawn T.
This was an excellent presentation.. It was interesting to have the process presented of how the checklist / behavioral approach was developed..
- Mark Z.
I thought this was a good topic because financial advisors don't always go so deep in conversation. In addition, confronting the health and financial goals together in the conversation as parallel goals.
- Susan S.