Weekend Content for New Planners

Weekend Content for New Financial Planners (June 25-26, 2022)

“Weekend Content for New Financial Planners” is a collection of articles, podcasts, videos, etc. that I’ve been consuming regarding breaking into financial planning, industry trends, career development, and more.

Richard Thaler on mental accounting, choice architecture, retirement “allowances,” and more [Podcast]:

“I always tell financial advisors that they’re part financial advisor, part shrink.

You got to get the clients comfortable with what you’re doing.Having to sell off some security, that feels painful. You don’t want people thinking about it that way.”

Dr. Richard Thaler: The Psychology Driving Our Money Decisions [Jamie Hopkins and Devin Ekberg, Framework]

Meg Bartelt on the pros and cons of optimizing versus simplifying [Article]:

“We can’t avoid some financial decisions as they come up. But in my own finances and my work with clients, I’ve started thinking more and more about: 

How can we create rules that will apply over and over again?

Even better, how can we automate those rules? 

If we were able to do that, we wouldn’t have to make even more decisions in the future, and the ones we’ve already made will just get done without effort. I don’t know about you, but especially of late, I will take just about anything that makes life feel less effortful.

One of the enemies of such an approach to our finances is our seemingly instinctive desire to optimize.”

Making Decisions Is Exhausting. Rules And Automation Help You Make Fewer Decisions In Your Finances. [Meg Bartelt, Flow Financial Planning]

Mike Zung shares why he made a career change from working in tech to serving tech professionals, how he incorporates agile project management, and more [Video or Podcast]:

“Whenever I say ‘speaking the language,’ that’s the language that we speak. Because personal finance can feel like this giant thing where’s it’s ‘Oh God, there’s so many things that I have to figure out.’ And it’s like, ‘No, we’ll just do it basically as an agile project.'”

Your New Tech Job With Mike Zung [Cynthia Meyer, The Real Life Planning Podcast]

How Chelsea Ransom-Cooper leveraged a career change, a key partnership, and systematized operations to grow to $50M AUM in her first year [Podcast]:

“Write out your process … Circle the things that only you can do. Anything else, really start to figure out what are your opportunities through your tech stack that you can lean on that it can do for you. I think that was the best audit that we did.”

How Upgrading Your Tech Stack Can Lead To Massive Growth For Your RIA [Jason Wenk & Dasarte Yarnway, The Advisor Journey]

James Clear on the power of constraints and letting values drive choices [Article]:

“This is how you make choices you wouldn’t normally make. When you let the problem drive your decisions, you make exceptions and ‘just this once’ choices to resolve the pain, annoyance, or uncertainty that you’re feeling in the moment.”

Let Your Values Drive Choices [James Clear, JamesClear.com]

Which piece of content did you like? Comment below!

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