Advisor Innovations: Brian Portnoy on Helping Clients Rethink Wealth
The founder of Shaping Wealth explains why the true definition of wealth should be 'funded contentment,' or the ability to live a life of purpose and meaning.
Sometimes, your clients might get emotionally carried away and make irrational money decisions, especially during times of high market fluctuations. It is your responsibility, as their advisor, to remind them that money is not the end goal but only the means to the goal—a joyful and meaningful life.
In this episode, David Armstrong is joined by the author and founder of Shaping Wealth, Brian Portnoy. Brian explains why the true definition of wealth should be “funded contentment,” or the ability to live a life of purpose and meaning. He also reveals the tools and language that help financial advisors and clients with their subconscious biases.
How funded contentment helps underwrite a meaningful life;
The right language to provoke conversations around money mindset with clients;
Why financial advisors shouldn’t pathologize the human experience of money; and
How he works with financial advisors to promote financial well-being.