I spoke to financial advisors at the FP Canada conference in 2022, and Noelle Boughton covered the talk for Wealth Professional Canada that November. The headline number was that looking at clients through their values is eight times more powerful than looking at them through demographics alone. One example that matters for advisors is that Canadians rank the value of Family first and Belonging second, and Americans have it the other way around, so the same advice framed the same way can land differently on each side of the border.
I gave them the three questions to use with clients. When you ask why a client would give away half of a lottery win, ask why and not where, because the reason is what tells you about their values. I also talked about wealthy clients who are driven by the value of Personal Responsibility. They tend to be drawn to environmental investing and want to be involved in decisions, so my advice was, "Give them the keys to the car, and you'll be surprised." The article also cites a finding that 21% of people set to inherit $10 million from baby boomers are champions of ESG investing.
You can read the original at Wealth Professional Canada.
My new book walks you through all kinds of ways to identify (and use) your values, and it's available for pre-order now. It's called The Values Map, and I would be very grateful if you pre-ordered a copy. My publisher would love it too. ❤️
Everything gets easier when you know What Matters Most.
