Creating a financial plan based on clients’ goals and objectives is only half the battle. When working with multiple generations from the same family, understanding and navigating their money motivators and their differing psychologies surrounding finances is critical.
In this episode of NEXT, Mark Bruno, Managing Director at Informa Wealth Management, speaks with Richard Joyner, president of Tolleson Wealth Management, about working with clients to build a financial plan for the future based on a combination of psychology, one-on-one support and high-touch client service.
Mark and Richard discuss:
- What is true intergenerational wealth planning and what role it will play in the growth of wealth managers over the next 5-to-10 years
- How they manage wealth psychology (and its influence on wealth management)
- How are advisors being trained in financial psychology
- What skill sets and talents will be required to align client need with growth opportunities moving forward