Psychology of Money and Better Client Conversations With Brian Portnoy

Financial advisors excel at technical guidance but struggle with the deeper human challenges their clients face. Money triggers stress, fear, and uncertainty, yet most advisors aren’t trained to navigate those emotional dynamics. How can advisors improve their conversations, build trust, and truly guide clients toward better financial decisions?

Brian Portnoy, an expert in behavioral finance and the psychology of money, explains how advisors can strengthen their emotional intelligence, clarify their own money stories, and adopt a human-first mindset. Highlighting the value of skills such as self-awareness, empathy, and better listening, Brian emphasizes practical tools for improving client conversations across prospecting, discovery, onboarding, and reviews. He also shares the importance of well-being science and how understanding happiness and purpose can meaningfully reshape financial guidance.

In this episode of The Customer Wins, Richard Walker interviews Brian Portnoy, Founder of Shaping Wealth, about human-centered financial advice. Brian discusses the psychology of money, improving client conversations, and the role of emotional intelligence. He also explores advisor wellbeing, communication strategies, and the impact of AI-powered coaching tools.

00:00 - 01:00 Introduction
02:07 - 03:26 Why Money and the Brain Just Don't Get Along
04:30 - 05:47 Training Advisors to Become Guides, Not Just Experts
06:48 - 08:19 Emotional Intelligence: The Secret Sauce for Financial Advisors
08:25 - 09:35 Helping Clients Talk About the Meaning of Life (Without It Being Weird)
10:18 - 11:40 The Growth Mindset Illusion in Financial Services
12:35 - 13:30 Why the Real Competitive Edge in Wealth Management Is Human Connection
14:19 - 15:37 “You Changed My Life”: What Advisors Say After Our Program
16:38 - 17:57 How Better Conversations Drive Long-Term Success
18:59 - 19:52 Focus on Those Ready for Change, Not the Ones You Have to Convince
20:09 - 21:27 Humanizing Financial Advice: Why It's Smart Business
23:17 - 24:17 The Hard Truth: Why Human Skills Are Still Seen as a ‘Nice to Have’
25:00 - 25:50 Meet Lydia: The AI Coach Designed for Financial Advisors
26:35 - 27:56 How Lydia Helps Advisors Take Care of Clients, Teams, and Themselves
29:19 - 30:24 Money Isn’t Just Currency. It’s an Emotional Lightning Rod
32:08 - 33:23 The Power of a Thought Partner When Building Something Big

Full Episode: http://quickforms.com/post/psychology...

Mentions: Max Klein of LEA, Donald Morgan of Independent Wealth Connections, Patrick Hannon of Fidelity Labs