In what may be a first, an RIA brings on a psychologist as a financial planner
News from RIABiz:

Any advisor can tell you that starting a dialog with a client about money matters can often end up as a discussion about broader life issues.

Loren Kayfetz, president of Personal Financial Consultants Inc., is hoping to close that advice gap for his clients by bringing on a financial planner with experience doling out life advice. See: Can the behavior of RIA clients be changed? Yes … but.

This past October, in an attempt to provide a more complete money planning experience to clients, Kayfetz hired Brad Klontz, a psychologist and newly minted CFP, to serve as a money coach and financial planner.

Kayfetz thinks Klontz’s experience as a financial psychologist will give him an edge as a financial planner.


“Brad has a real keen insight into how people process and make decisions, determinations and react,” says Kayfetz, which allows him to listen to and coach clients on a higher level than most financial planners. See: What we all feared: ‘Better’ disclosure yields worse results, according to Yale professor’s study.

While the field of financial psychology and coaching gained traction in the mid-2000s, Kayfe…………… continues on RIABiz

… Read the full article

Related News: