According to an American Express study, 91% of couples avoid money talks with their partner. This money silence leads to confusion, discomfort, and sometimes conflict when couples decide to meet with an advisor to discuss their financial future. This taboo against talking openly about money matters has a troubling trickle-down effect as evidenced by:
- 70% of families failing to pass down wealth often due to a lack of money communication skills
- 80% of spouses hiding financial purchases from each other to avoid discussing differences in buying and spending habits
- 50% of Baby Boomers reporting that they have NEVER talked to their children about money
- 69% of parents stating that they are more comfortable talking to their teens about sex than investing
Advisors are in a unique position to help couples and families shatter this taboo. In addition to being a great value add service, engaging couples in wealth conversations fosters trust and increasing the likelihood that the financial plan created will be successful. It also helps the advisor connect with the next generation in a meaningful and useful way.
In this highly interactive session, learn the skills to empower couples and families to discuss money matters openly, to respect and resolve financial differences, and to teach the next generation that being financially responsible means breaking money silence for good.
Participants take away:
- An understanding of money mindsets and the power of identifying the beliefs behind financial behaviors
- The importance of uncovering and appreciating how the advisor’s money mindset influences the advisory process
- Tips and tools for helping couples break money silence and participate in financial conversation inside and outside the office
- A Wealth Connection Card Deck and Advisor Guide to use with clients
- How to use this service in prospecting and marketing to couple clients
Live: 60-minute Keynote Presentation or 90-minute Concurrent Workshop
Virtual: 60-minutes webinar