Ep 296: Unblocking Clients Who Keep Not Implementing By Exploring Their Financial Psychology with Ed Coambs
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 30 August 2022
⏱️ 95 minutes
🧾️ Download transcript
Summary
Ed Coambs is the founder of Healthy Love & Money, a financial therapy practice based out of North Carolina that helps families uncover and understand the roots of their underlying financial conflicts. Ed himself is a former financial advisor turned financial psychologist, and he utilizes couples therapy techniques to help his clients get to the root of the issues that may be blocking them from achieving their financial goals.
Listen in as Ed shares how he connects with clients on a deeper level so they can overcome their stalling points, as well as how he knows when he needs to refer a client out to a mental health professional. We also discuss his career trajectory, from firefighter to financial advisor to financial therapist, and how he overcame the challenges he faced launching his financial therapy business.
For show notes and more visit: https://www.kitces.com/296
Transcript
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| 0:00.0 | Hey everyone, Michael Kitsis here. As you know, the NERN's I View blog and podcasts are all about |
| 0:06.1 | adding value to the advisor community and making financial advisors better and more successful. |
| 0:10.8 | To ensure we're staying on the right track and hopefully bring you even more content you'll enjoy, |
| 0:14.8 | we've created a short survey so that we can hear from you, our readers and listeners. |
| 0:18.8 | So please go to the link Kitsis.com slash FAS for financial advisor success, Kitsis.com slash FAS, to share your feedback in our annual Nerds-I-View reader and listener survey. |
| 0:30.3 | You can also find a link to our survey and the resources featured in this episode at Kitsis.com slash 296. |
| 0:36.3 | Thanks in advance for sharing your feedback and enjoy the podcast. |
| 0:43.3 | Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with |
| 0:48.4 | financial planner, speaker, and consultant Michael Kitsis to hear stories of how leading |
| 0:53.8 | financial advisors navigated the |
| 0:55.8 | inevitable challenges that arise on the path to success and get insight from leading industry |
| 1:01.0 | consultants about how to break through to the next level in your advisory business. |
| 1:05.8 | And now here's your host, Michael Kitsis. |
| 1:08.9 | Welcome, everyone. Welcome to the 296th episode of the Financial Advisor's |
| 1:13.8 | Success Podcast. My guest on today's podcast is Ed Combs. It is the founder of Healthy |
| 1:19.0 | Love and Money, a financial therapy practice in Charlotte, North Carolina that helps couples |
| 1:23.4 | and families uncover and understand the roots of their own underlying financial conflicts. |
| 1:28.8 | What's unique about Ed, though, is how as a former financial advisor turned financial |
| 1:32.7 | therapist, he utilizes couples therapy techniques to help his clients dig deeper into the |
| 1:37.4 | issues in their lives that may be preventing them from implementing their financial planning |
| 1:41.1 | recommendations and helps them get unblocked to be able to achieve their financial goals. |
| 1:47.0 | In this episode, we talk in depth about how Ed learned from his early years as a financial advisor that the reason a lot of clients aren't achieving their goals isn't a logical problem, but a psychological problem. |
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