Ep 68: The Psychology of Financial Planning with Dr. Meghaan Lurtz

Client’s financial decisions are often driven by logic and numbers, but sometimes emotions slide in.

Chris and Dr. Meghaan Lurtz discuss the psychology of financial planning. Meghaan also shares strategies to build understand clients, build trust and manage clients’ queries with ease.  

Even though our business is about dollars and cents, when it’s all said and done, working in the financial advice industry is about the people, our clients that we work hard to help make their goals happen and make good choices in their financial lives. We might be able to look at a portfolio and be analytical and logical, but we all know that people can get emotional and make some very bad decisions based on their feelings and preconceived notions. 

How do we understand what our clients are feeling? How do we know how to handle these situations and work with them when emotions run rampant? Especially when it can be contrary to their own future well being?

To understand this topic better, on today’s show we will get to talk about the psychology of financial planning with Dr. Meghaan Lurtz.  Meghaan is a leading global expert on the psychology of financial planning and a Partner at Shaping Wealth. A dedicated educator, she is a Professor of Practice at Kansas State University, teaching in the Advanced Financial Planning and Financial Therapy Certificate Programs. She is also a lecturer at Columbia University, where she teaches Financial Psychology. She serves on multiple financial technology boards, bringing together finances and mental health. She is an active researcher, writer, and ongoing contributor to the Kitces platform, writing about the intersection of money, advice, and wellbeing.

Meghaan has finished her Ph.D. in Personal Financial Planning at Kansas State University. Meghaan is a past President of the Financial Therapy Association.

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