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Imagine that you can ask your prospective client only two questions before deciding if they are a good fit for your practice. What would you ask, and why? The statement above is an example of a structured interview question. Structured interviews are a systematic way to get to know a client, applicant, or other new colleague that links interview questions to topics or competencies that are critical to understand at the beginning of that …
An obvious mechanism to help an individual spend their cash flow in accordance with their financial goals is to employ a budget. But for many of us, the idea of constricting any behavior, especially how we spend our money, is unpleasant. Even if we label it using the euphemism of a “spending plan.” And, changing money attitudes is challenging even for experts. Volumes of advice and technologies are available to help with the mechanics of …
Suppose you are trying to understand the complex underlying personal characteristics of your client, a potential employee, or even yourself. In that case, it goes without saying that you need a good tool (i.e., a good assessment) to measure these not-so-obvious personal characteristics. This is the heart of psychometrics: the science of measuring individual differences (that is, our unique personal characteristics). Typically, psychometrics involves gathering multiple responses related to a characteristic to ensure you’re …
The financial technology (or fintech) landscape is evolving rather quickly, and some are calling it the “golden age of fintech.” I recall thinking only a few years ago that DataPoints didn’t quite fit in any of the categories of the various fintech maps that were published. The groupings of CRMs, financial planning software, re-balancing tools, etc. were clear enough. But there really wasn’t a place for psychology and behavioral science in the mechanics of financial …
Have you ever dismissed a concept because it sounds too “soft,” that it won’t help or be applicable to your practice, life, or clients? One of those concepts that has suffered from a branding problem in the financial world is mindfulness. However, with the increased focus on holistic financial planning, it’s gaining some ground a an increased reputation as a way to help achieve financial success. Let’s consider it in light of spending. News-flash: Excessive spending …