Independent of our unique individual personality traits, values, and attitudes, we know that financial decisions and behaviors have the most significant impact on achieving money goals. Carrie Rattle, CEO & Founder of Behavioral Cents, is a financial therapist and coach who works to engage clients in exploring their money beliefs with the ultimate goal of helping to optimize their financial behaviors. In the brief conversation below, we explore how Carrie uses behavioral assessments in her work to empower and guide clients to achieve their financial goals.
Tell us about your work at Behavioral Cents
Behavioral Cents serves discerning professional women and couples seeking best practices and experience in their financial coaching to challenge money beliefs and change behaviors. The core services include support as a thought partner in making financial decisions, reducing debt, couples’ communication and teamwork, and overshopping, an addictive behavior. In addition, we partner with therapists and investment advisors to enhance ongoing client care with short-term interventions where required. Services are offered nationwide.
How do you use assessments in your practice?
The Building Wealth questionnaire enables my clients to understand their building wealth behaviors. At the same time, it also contributes to their buy-in because they have completed it themselves. It is a strategic starting point to focus on where my client(s) needs more help to achieve success. After working together, we revisit the baseline and assess how they feel. This reevaluation process helps them see that they have developed new skills/knowledge/behaviors and reinforces their value for their money. Reviewing the Klontz Money Script Inventory-Revised (KMSI-R) results is a core service to help my clients (especially couples) understand how they think and behave differently. Once we discuss their beliefs, I gently help them identify situations when those beliefs are exhibited while we talk through the actual finances or communication work.
How do assessments benefit your practice and clients?
I am very focused on delivering the best for my clients and delivering a premier brand. As far as I’m concerned, DataPoints offers Best Practices Service in several areas to enhance the client experience.
What advice do you have for financial professionals who want to add assessments to their financial coaching packages or planning?
Because these tools are generated through responses from the clients, it gets you a level of buy-in that’s more readily accepted. It also gives focus, helps couples see differences, and generally gives you a great baseline. I use them regularly!
What insights can you share with those who want to work with a financial coach?
I have a lot of fun using The Next Millionaire Next Door as great fodder for LinkedIn postings. They make great quizzes. Follow me and participate – sometimes the answers will rock somebody’s world (what do you mean having a million-dollar salary doesn’t mean I’m a millionaire?), and it encourages discussion.