In a Nutshell: Managing client fears might not fit the traditional definition of financial advisory. But “stay the course” just doesn’t cut it when the markets are volatile and the world feels so unsettled. My guest today draws on some extraordinary personal challenges to help clients adopt the proper mindset for facing their money fears and maintain control of their financial futures.

Guest: Sarah Carlson, a financial advisor and the founder of Fulcrum Financial Group in Spokane, Washington. Sarah’s new book is called Facing Financial Fears: 8 Steps to Financial Freedom for Women.

My Key Takeaways:

  1. Embrace gratitude. Even under the most challenging circumstances, there are reasons to be grateful and opportunities to learn and grow.
  2. Money is controllable. Remind clients that no matter what’s going on in the world, your planning process gives them tools to face their money fears and adjust when necessary.
  3. “Vibe attracts tribe.” Be your authentic self at all times and you’ll grow a client base that you’ll love working with.

Also Learn:

  1. What Sarah learned about overcoming fears and strengthening mindset from a near-fatal experience.
  2. Financial fears and cultural biases that Sarah wants to help women address and that all advisors should be sensitive to.
  3. The connection Sarah often sees between money management and self-worth.
  4. Using “tough love” to coach clients to more positive financial outcomes.
  5. How advisors can help couples resolve differences in their attitudes towards money, such as risk tolerance.
  6. What neuroscience tells us about our emotional responses to money.
  7. Why Sarah believes that being able to take care of yourself is “the ultimate superpower.”

Complementary podcast: Performance coach Tim Kight discussed the formula that can help all of us take control of challenges in our lives: Event + Response = Outcome. Listen/read here.

Resources Featured In This Episode

Facing Financial Fears: 8 Steps to Financial Freedom for Women

Fulcrum Financial Group