Friday, March 14th, 2008
My role today in the financial services industry is education of both advisors and clients so I hear this situation from several angles. Here are a couple thoughts I’d like to share with you and your readers: 1) The advisor needs to ask themselves, “Have I given my client the tools and the system he or she needs to make a financial decision that supports their lifestyle choices – today and in the future?”
2) The financial services industry is to help people reach their goals by using all available resources efficiently. Therefore if the client wants to do something that is in conflict with their original goals, then perhaps they weren’t committed in the first place. That means the advisor needs to have more tools to work with the client on the psychology of money over and above just the management of dollars and cents.
3) If the client is more wrapped up in the emotion of a short sighted decision or lure of a get rich quick plan, that seems to be in conflict with their financial goals, then either the goals weren’t really the true goals, and more help is necessary, OR the advisor is best to terminate the relationship rather than get dragged into the drama or potential consequences. Advisors need to understand their clients’ values and underlying psychology, as well as their own so they can guide the overall process. If the relationship needs to be terminated they need to do so without judging so the door will always be open for future transactions and the client feels encouraged and supported, not judged and criticized. ‘Irresistible opportunities’ and emotional situations with money will always come up, and when an advisor has a system in place to help their clients make business decisions that are based on what’s truly important to them they avoid the potential crisis both for themselves and their clients.
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Friday, February 29th, 2008
Could your pocketbook benefit from a values check? Certified MoneyMinding Advisor Cindy Morus thinks so. In her new e-book, Spending Your Value-able Life, Cindy leads you through an exercise in defining your values, then connects those values to your spending decisions. It’s right in line with MoneyMinding’s second step (after being grateful for where you are), which is knowing what your priorites are.
If you are living your best life, your priorities will be congruent with your values, and both will be reflected in where you choose to spend your resources. Right? If you haven’t given much thought to it, here’s your chance to brew a cup of tea or coffee, light a candle and sit down with pen and paper and a copy of Cindy’s book. You can look Cindy up on our “Find an Advisor” page.
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Thursday, February 28th, 2008
Here’s an email we received from one of our consortium members. Our what? Well, as part of the MoneyMinding Mastery education, people who participate have the opportunity to join with their Mastery colleagues and put MoneyMinding to work in a project fashion. Our students get to learn concepts AND make money - partnering with MoneyMinding and with each other to make it happen! Does this require teamwork and initiative? You bet. Are they capable of taking a concept and turning it into income? Absolutely. Am I going to link you to their terrific project so you can find out more about it for yourself? Yes- as soon as it’s ready to go (which will be very shortly, don’t worry) Do you want to experience some of this for yourself? You can! Find out more about MoneyMinding Mastery and Advisor Training - just click the link.
I just wanted to say a big thankyou to everyone who is a part of this project. I have been working and been involved in team work for the past 14 years as I know you all have and it is definitely TEAM WORK THAT MAKES THE DREAM WORK!! We have done a great job so far.
A special Thank you to Tracy and Wayne for sharing your ideas and “BIG THINKING” so all of us can enlarge our comfort zone and become marketing and internet experts among other things.
Audrey, Vancouver
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Friday, February 1st, 2008
At his year-end meeting, Kevin’s mentor asked him “How much are you planning to make this year?”
Kevin said that he was going to make a quarter million - that he was going to write a cheque of $250,000 to himself.
Her immediate response was “NO, that’s not challenging enough! You need to add a zero instead. It won’t be easy but it’s a good goal for 2008!”
Kevin did what she said, and wrote himself a cheque for one million dollars. Although he wasn’t convinced in himself that he could achieve that much, he was excited to go for it.
Soon after, something clicked, and he found a strategy that had his clients invest 4 million dollars with him from December 15th to 31st. This will bring in a commission check of $100,000. And the year is just beginning!
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Friday, February 1st, 2008
by Kevin Hu
Ever wonder how other people seem to find opportunities and chances that never present themselves to you?
I used to think the same way too. If you were to ask me if I’ve always been successful, if I’ve always been able to network with others and spot the opportunities that come my way, my answer would be NOT AT ALL!
It may seem like my life has been a very smooth and successful ride. I wish that were true; however, I have discovered that only through challenges and struggles can a person grow and expand himself or herself to another stage of capacity.
The majority of people wish only that they had another’s success; what they never consider are the struggles and obstacles behind that success. Yes, i am blessed by the grace of God in all I have achieved this year, buy many don’t realize how much time, effort and money I have spent on personal growth.
Having an annual income of only ten to twenty thousand dollars in the last couple of years was not an easy thing, what with a mortgage and other buills to pay. Quitting a job that paid $35,000 annually to work full-time in the financial industry (making very little at first) is certainly a riskmany are unwilling to take. Most people are not willing to give up their comfort zone.
I have cried out to God many times, Why do I have to go through this? Why must I actively talk to people - something I am not comfortable with? At the time I was digging deeper into my line of credit and juggling credit cards in order to pay bills. I knew I couldn’t give up. I received an e-mail that said, “Don’t fear pressure for pressure is what turns rough stones into diamonds”. It was a constant reminder to me that these challenes were expanding my capacity to contain greater blessings.
And it’s true - your wealth is directly related to the capacity of your mind. Ever hear that most people who win the lottery lose everything, even becoming bankrupt, within 3 years? This is because they lack the mental capacity to contain their wealth. So they lose it automatically. We would all like to have lots of money, but 95% of us wouldn’t know how to hang onto it. Now ask yourself this question: What would I do if I had 5 million dollars? 95% of people will think of what to spend it on and then live on what’s left over. However, a successful individual will think of you to use this money to create more money, enought to live the lifestyle they desire.
Wealth and opportunity are everywhere. Every client has had a different reaction to the same strategy I presented. Many learned to think differently and do something outside their comfort zone. Your ability to earn wealth is within youself. I love one quote: “You want your life to be hard at the beginning so that it will become easy, instead of easy now and hard later.”
Tracy’s MoneyMinding program is excellent in this area of relating money and mindset.
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