Hot Take: Wealth management isn't actually about the math anymore. I spent three hours yesterday acting as a therapist for a couple fighting over a boat, and only ten minutes looking at their asset allocation. We’re basically high-paid social workers with Series 7 licenses at this point. Does anyone else feel like their CFP should have come with a psychology degree?

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So, the CFP board is building in financial therapy (behavioral finance) into the program. There are certifications coming out on this topic too.

Read the book “Facilitating Financial Health” by Brad Klontz or Psychology of Money by Morgan Housel.

Many of us have already shifted to this type of mindset in client appointments.

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