Monthly Archives: May 2022

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Advisor Innovations: Dr. Daniel Crosby on Understanding a Client’s Money Mindset



In this episode, David Armstrong talks to Dr. Daniel Crosby, Chief Behavioral Officer at Orion Advisor Solutions. The son of a financial advisor, Crosby holds a Ph.D in psychology from Brigham Young University, and has spent his career bridging those insights to help people understand how they think about, and plan for, money and finances. He was a consultant to the industry for many years (and a one-time columnist for wealthmanagement.com) before joining Brinker Capital as chief behavioral officer in 2018. He holds the same position at Orion Advisor Solutions following that firm’s acquisition of Brinker. At Orion, Crosby is bringing behavioral finance insights into the design of Orion’s advisory platforms to help advisors build – and maintain – better financial strategies for their clients.

Dr. Crosby discusses:

  • How to translate traditional advice into effective tools for financial planning
  • How to address the changing dynamic in a person’s life through their financial plan
  • The impact of personal ideology on major money decisions
  • The role of advisors against the stress of money and irrational decision making
  • And more

Resources:

Connect With Dr. Daniel Crosby:

Connect With David Armstrong:

About Our Guest:

Educated at Brigham Young and Emory Universities, Dr. Daniel Crosby is a psychologist and behavioral finance expert who helps organizations understand the intersection of mind and markets. Dr. Crosby recently co-authored a New York Times Best-Selling book titled, Personal Benchmark: Integrating Behavioral Finance and Investment Management.

He also constructed the “Irrationality Index,” a sentiment measure that gauges greed and fear in the marketplace from month to month. His ideas have appeared in the Huffington Post and Risk Management Magazine, as well as his monthly columns for WealthManagement.com and Investment News. Daniel was named one of the “12 Thinkers to Watch” by Monster.com and a “Financial Blogger You Should Be Reading” by AARP. When he is not consulting around market psychology, Daniel enjoys independent films, fanatically following St. Louis Cardinals baseball, and spending time with his wife and two children.


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Advisor Innovations: Brian Portnoy on Helping Clients Rethink Wealth



Sometimes, your clients might get emotionally carried away and make irrational money decisions, especially during times of high market fluctuations. It is your responsibility, as their advisor, to remind them that money is not the end goal, but only the means to the goal — a joyful and meaningful life.

In this episode, David Armstrong is joined by author and founder of Shaping Wealth, Brian Portnoy. Brian explains why the true definition of wealth should be “funded contentment,” or the ability to live a life of purpose and meaning. He also reveals the tools and language that help financial advisors and clients with their subconscious biases. 

Brian discusses:

  • How funded contentment helps underwrite a meaningful life
  • The right language to provoke conversations around money mindset with clients
  • Why financial advisors shouldn’t pathologize the human experience of money
  • How he works with financial advisors to promote financial well being

Connect With Brian Portnoy:

Connect With David Armstrong:

About Our Guest:

Brian is one of the world’s leading experts on the psychology of money.  He has written multiple bestselling books, including The Geometry of Wealth, and has 20+ years of experience as investor and educator in the hedge fund and mutual fund industries.  He is a CFA Charterholder and earned a PhD at the University of Chicago.