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WSJ Your Money Briefing

Why Some Financial Advisers Focus on More Than Just Building Wealth

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.81.6K Ratings

🗓️ 15 August 2023

⏱️ 7 minutes

🧾️ Download transcript

Summary

Some financial planners are taking an approach to their work that focuses on clients’ personal goals and well-being, and not just about growing wealth. WSJ personal-finance reporter Joe Pinsker joins host J.R. Whalen to discuss. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:05.9

and take away practical advice on how to build a sustainability strategy that's right for your business.

0:11.5

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0:18.8

slash Sustainable Business, no code required. That's WSJ.com slash Sustainable Business.

0:25.2

Here's your money briefing for Tuesday, August 15th. I'm JR Whalen for the Wall Street Journal.

0:35.6

Financial advisors often work with their clients to find ways to preserve and grow their wealth,

0:40.8

but some advisors are taking an approach to their work that looks beyond just making money.

0:45.7

Some are looking at how they connect to broader questions about our happiness and trying to

0:51.2

trace the line between the money people have and how they use it to their happiness.

0:56.8

We'll talk to Wall Street Journal personal finance reporter Joe Pinsker after the break.

1:09.4

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1:16.3

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1:21.7

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1:26.8

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1:33.5

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1:46.2

Some financial advisors are being selective about the clients they work with steering

1:50.8

away from some whose goal is simply to keep making money. WSJ personal finance reporter Joe Pinsker

1:57.0

spoke to several advisors and he joins me. So Joe, why are some financial advisors being

2:02.3

choosy about the clients they take on? Some advisors are thinking hard about the work they do and

2:10.7

what it accomplishes in people's lives. The traditional way we think about financial advising is

2:16.3

that it's someone whose job it is to increase and grow the amount of money you have

2:22.0

and help you preserve your wealth. Some people are also thinking about the other money questions

...

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