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Psychology of Financial Planning Specialist Badge Program

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The Psychology of Financial Planning Specialist Badge Program is designed to equip the financial planning profession with the knowledge and tools to better understand, engage, and serve a broad range of clients. 

The program contains video instruction AND exercises for financial planners.  Topics are below!

  • Client Values & Goals: The Planner’s Role in Facilitating Financial Success
  • Understanding Your Client’s Background
  • Understanding Your Client’s Money Beliefs
  • Understanding your Client’s Financial Behaviors
  • Multicultural Competence in Financial Planning
  • Dealing with Client Money Conflicts
  • Six Steps to Help a Client Navigate a Crisis Event
  • Behavioral Finance for Financial Planners
  • Client Learning Styles and Risk Tolerance
  • Principles of Effective Communication
  • Counseling in Financial Planning Practice
  • Getting the Client to Take Action
  • Implementing Financial Psychology into Practice
Upon completion of the program, the financial planner will be able to: · Identify client biases, beliefs, cultural identity, and behaviors and all the other psychological factors that impact both the client’s financial goals as well as the client-planner relationship · Apply a variety of tools and techniques to help increase client acquisition, retention, and the effectiveness of financial planning · Identify their own money beliefs and biases that can impact their client relationships

Dr. Brad Klontz, Psy.D., CFP®

Founder, Financial Psychology Institute® and Associate Professor of Practice in Financial Psychology at Creighton University Heider College of Business

Bradley T. Klontz is a founder of the Financial Psychology Institute® and an associate professor of practice in financial psychology at Creighton University Heider College of Business. He is a managing principal of Your Mental Wealth Advisors, a fellow of the American Psychological Association, and a former president of the Hawaii Psychological Association. He has partnered with organizations including Capital One, JP Morgan Chase and H&R Block in efforts to help raise public awareness around issues related to financial health and financial psychology.

Dr. Charles Chaffin

Dr. Charles Chaffin’s work encompasses a broad range of fields, from educational psychology to financial planning to life in the Information Age. His research and teaching focuses on learner cognition in a variety of formats, including various delivery methods and learning styles as well as the client behaviors and attitudes within financial planning. Most recently, he has written and spoke regarding one of the biggest issues of our time: information, most notably how we manage it, retain, and use it in all aspects of our lives.

Charles delivers keynotes speeches, workshops, as well as teaching in a variety of executive education programs.

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Key:

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Module 1: Intro to the Psychology of Financial Planning
Module 1: Intro to the Psychology of Financial Planning
Open to view video.
Open to view video. In this module, we introduce a model of financial psychology that can be used to help understand and predict a client’s financial beliefs and behaviors. We present the key components of psychology of financial planning and explain how it can be integrated into practice.
Module 2: Client Values & Goals: The Planner’s Role in Facilitating Financial Success
Module 2: Client Values & Goals: The Planner’s Role in Facilitating Financial Success
Open to view video.
Open to view video. In this module, we identify the key factors that motivate a client’s financial decision-making. We introduce the concept of innate human needs and how a client’s needs and values impact their financial behaviors and goals. We present strategies a financial planner can use to help build a client’s financial self-efficacy and identify and achieve their financial goals.
Module 2: Part 2 - Nine Things Every Planner Should Know About Goals
Open to view video.
Open to view video.
Module 2 Exam
8 Questions  |  Unlimited attempts  |  5/8 points to pass
8 Questions  |  Unlimited attempts  |  5/8 points to pass
Module 3: Understanding Your Client’s Background
Module 3: Part 1 - Understanding Your Clients Background
Open to view video.
Open to view video. Module 3 focuses on how a client’s past experiences around money can impact their financial beliefs and behaviors, including the impact of financial trauma on a client’s relationship with money. This module also focuses on how to help clients and planners discover how their past experiences impact their financial beliefs and behaviors.
Module 3: Part 2 - Money Egg Exercise
Open to view video.
Open to view video.
Module 3 Exam
9 Questions  |  Unlimited attempts  |  6/9 points to pass
9 Questions  |  Unlimited attempts  |  6/9 points to pass
Module 4: Understanding Your Client’s Money Beliefs
Module 4: Understanding Your Clients Money Beliefs
Open to view video.
Open to view video. Module 4 outlines the main categories of money beliefs and how they impact financial behaviors and outcomes. It outlines ways that advisors help clients identify the sources of their money beliefs as well as ways they can challenge and change their beliefs to help them meet their short and long-term financial goals.
Module 4 Exam
8 Questions  |  Unlimited attempts  |  5/8 points to pass
8 Questions  |  Unlimited attempts  |  5/8 points to pass
Module 5: Understanding your Client’s Financial Behaviors
Module 5: Understanding your Client’s Financial Behaviors
Open to view video.
Open to view video. This module focuses on the application of financial psychology to help explain, interpret, and evaluate financial behaviors. It outlines methods that can help clients address problematic money disorders so they can make progress towards their financial health. It also highlights ethical considerations in financial planning as they relate to a client’s financial behaviors.
Module 5 Exam
8 Questions  |  Unlimited attempts  |  5/8 points to pass
8 Questions  |  Unlimited attempts  |  5/8 points to pass
Module 6: Multicultural Competence in Financial Planning
Module 6: Part 1 - Multicultural Competence in Financial Planning
Open to view video.
Open to view video. Module 6 outlines the impact of race, culture, gender, and sexual orientation on client and planner financial experiences, money beliefs, and financial behaviors. It also examines ways that the client is influenced by their cultural identity as well as their minority and majority status. Finally, module 6 focuses on the ten areas of majority/minority status and how they impact the client-planner relationship.
Module 6: Part 2 - ADDRESSING Exercise
Open to view video.
Open to view video.
Module 6 Exam
7 Questions  |  Unlimited attempts  |  4/7 points to pass
7 Questions  |  Unlimited attempts  |  4/7 points to pass
Module 7: Dealing with Client Money Conflicts
Module 7: Dealing with Client Money Conflicts
Open to view video.
Open to view video. Module 7 focuses on the four common sources of money conflict in clients’ lives and strategies the advisor can use to address money conflicts in couples and families. This module also identifies situations in which money may be used as a means of undue influence, control, or abuse in relationships. Finally, module 7 outlines the financial planner’s roles, responsibilities, and professional boundaries in dealing with client money conflicts.
Module 7 Exam
8 Questions  |  Unlimited attempts  |  5/8 points to pass
8 Questions  |  Unlimited attempts  |  5/8 points to pass
Module 8: Six Steps to Help a Client Navigate a Crisis Event
Module 8: Six Steps to Help Navigate a Crisis Event
Open to view video.
Open to view video. This module identifies the types and characteristics of client crisis events that are frequently seen in financial planning. It introduces a six-step model a financial planner can use to help a client navigate a crisis event.
Module 8 Exam
8 Questions  |  Unlimited attempts  |  5/8 points to pass
8 Questions  |  Unlimited attempts  |  5/8 points to pass
Module 9: Behavioral Finance for Financial Planners
Module 9: Behavioral Finance for Financial Planners
Open to view video.
Open to view video. Module 9 identifies common heuristics and biases and how they can impact client financial decision-making and well-being. It also provides strategies for the financial planner to manage client biases throughout the client-planner relationship.
Module 9 Exam
8 Questions  |  Unlimited attempts  |  5/8 points to pass
8 Questions  |  Unlimited attempts  |  5/8 points to pass
Module 10: Client Learning Styles and Risk Tolerance
Module 10: Client Learning Styles and Risk Tolerance
Open to view video.
Open to view video. This module provides a comprehensive overview of various client learning styles and how a financial planner can incorporate them into their practice. Module 10 also identifies strategies to manage client and planner attention and limit distractions in their work environment. The second half of this module outlines the components of risk tolerance and specifically, how to incorporate them into the client’s financial plan.
Module 10 Exam
13 Questions  |  Unlimited attempts  |  9/13 points to pass
13 Questions  |  Unlimited attempts  |  9/13 points to pass
Module 11: Principles of Effective Communication
Module 11: Part 1 - Principles of Effective Communication
Open to view video.
Open to view video. Module 11 focuses on key verbal and non-verbal communication strategies that can be effective in building a relationship of trust and credibility with clients. This module also focuses on how a financial planner can integrate strategic listening techniques into client-planner interactions. Finally, this segment focuses on conversational methods for facilitating lasting change in financial beliefs and behaviors.
Module 11 - Part 2 - The Flow Exercise
Open to view video.
Open to view video.
Module 11 Exam
7 Questions  |  Unlimited attempts  |  4/7 points to pass
7 Questions  |  Unlimited attempts  |  4/7 points to pass
Module 12: Counseling in Financial Planning Practice
Module 12: Counseling in Financial Planning Practice
Open to view video.
Open to view video. This module provides the planner with counseling techniques that can be used with financial planning clients. Module 12 also provides specific techniques that can help clients change financial beliefs and behaviors. The final portion of this module focuses on areas of potential ethical concerns in financial planning, financial psychology and behavioral finance and strategies to ensure ethical practice.
Module 12 Exam
10 Questions  |  Unlimited attempts  |  7/10 points to pass
10 Questions  |  Unlimited attempts  |  7/10 points to pass
Module 13: Getting the Client to Take Action
Module 13: Getting the Client to Take Action
Open to view video.
Open to view video. This module focuses on the 6 stages of the change process and how an advisor can identify each stage in a client, and most importantly, how to react and respond to help the client take action. This module also outlines the conversational pitfalls that planners should avoid with a client when they are not ready to make a change. Finally, this segment provides 9 techniques that can help a financial planner overcome client resistance to change.
Module 13 Exam
5 Questions  |  Unlimited attempts  |  3/5 points to pass
5 Questions  |  Unlimited attempts  |  3/5 points to pass
Module 14: Implementing Financial Psychology into Practice
Module 14: Implementing Financial Psychology into Practice
Open to view video.
Open to view video. The final module focuses on the value that the psychology of financial planning brings to clients and planners and asks the financial planner to identify elements of their own financial psychology and how their background, beliefs, and cultural identity impact the client-planner relationship. The end of the program asks the financial planner to develop a plan for implementing the Psychology of Financial Planning into their practice, including goals, time horizon for implementation, and key contributors within the firm.
Evaluation, Certificate and Badge
Course Evaluation
7 Questions
Certificate of Completion
9.0 CFP CE credits  |  Certificate available
9.0 CFP CE credits  |  Certificate available
Digital Image: I Completed The Badge Program!
Open to download resource.
Open to download resource. Time to show off your hard work! Use this image on your LinkedIn Profile, resume, Facebook or even in your email signature.