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What Financial Professionals Said About the Family Tree Effect

February 8, 2021 

"Your Money Story" Webinar: Poll Results

Financial Professionals: This article is based on our popular Your Money Story module. Click here to access additional content to share.
 

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Many clients express concern about their spending decisions, a recent webinar* poll revealed.

While a majority of financial professionals understand these decisions stem from family thoughts, feelings, and beliefs about money, few of them told us they actually explore these influences with their clients. But these conversations can be a great opportunity to deepen client relationships.

To help clients see how their family tree can affect their financial decisions, check out this client-friendly article from wealth psychology expert Kathleen Burns Kingsbury.

78% say clients express concerns about their spending decisions
70% think their clients’ family’s thoughts about money have a major influence on clients’ financial decisions  68% don’t ask clients about their family’s beliefs and attitudes about money
78% say clients express concerns about their spending decisions
70% think their clients’ family’s thoughts about money have a major influence on clients’ financial decisions  68% don’t ask clients about their family’s beliefs and attitudes about money

 

Next Steps

  1. Get wealth psychology expert Kathleen Burns Kingsbury’s article to help facilitate client conversations about the family tree effect 
  2. Get a pdf of this infographic below

 

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*"Your Money Story: How the past can influence our financial decision-making" financial professional webinar, 1/19/21  

Kathleen Burns Kingsbury is not affiliated with Hartford Funds.

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