Webinar 2016-204: Serving the Wealthy: A Financial Psychological Profile Than Can Help Your Clients

DATE RECORDED: June 3, 2016

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Information about this webinar: 

  • A deeper understanding of the wealthy can help mental-health providers and financial advisors better serve this population and help individuals aspiring to increase their income and net worth by challenging inaccurate beliefs about this population’s psychology and financial behaviors. Drawing from the theories of money ambivalence, cognitive dissonance, envy, and relative deprivation, this study sought to explore stereotypes of the wealthy. Specifically, it examined the financial psychology, demographics, and financial behaviors of a sample of wealthy individuals and a sample of other relatively high-income and high-net-worth individuals, and it compared these characteristics to see what, if any, differences exist. Results show that wealthy individuals exhibited significant psychological differences, including lower levels of money avoidance, loss aversion, and financial stress; higher levels of life and financial satisfaction, financial knowledge, internal locus of control; and a fundamental drive to follow their passions and increase their wealth. With regard to financial behaviors, the wealthy spent significantly more on their most recent purchases but were not more likely to be financially dependent on nonwork income and were not more reclusive.
    • AFC® - Application has been approved for one (1) hour of AFC® credit.
    • CFP®Application has been approved for one (1) hour of CFP® credit.
    • Mental Health CEUs - (1) hour of LMFT, LMHC, LCSW credits through the Florida Board have been approved. 
  • Target Audience: This webinar is designed primarily for experienced practitioners in both of the following fields of practice and in academia:
    • Financial Professionals
    • Mental Health Professionals
  • Cost: $30 Non-members, $15 Members, $10 Student Members
  • Levels: This session is best suited for bachelors, masters and/or doctoral prepared attendees.
  • At the end of this session, the Participants should be able to:
    • Describe three psychological constructs that help explain negative feelings toward wealthier individuals.
    • List three psychological traits linked to high income and high net worth.
    • Explain three money scripts associated with lower income and lower net worth.

About the Presenter - Bradley T. Klontz, Psy.D., CFP®


Read Resume here

Bradley T. Klontz, Psy.D., CFP® is a an Associate Professor in Financial Psychology & Behavioral Finance at the Financial Psychology Institute™ at Creighton University Heider College of Business. He is also a Managing Principal of OCCAM, LLC, a Fellow of the American Psychological Association, and a Former President of the Hawaii Psychological Association. Dr. Klontz was awarded the Innovative Practice Presidential Citation from the American Psychological Association for his application of psychological interventions to help people with money and wealth issues and his innovative practice in financial psychology for practitioners across the country.  Dr. Klontz has co-authored/co-edited five books on the psychology of money: Financial Therapy: Theory, Research & Practice (Springer, 2014), Mind Over Money (Broadway Business, 2009), Wired for Wealth (HCI, 2008), The Financial Wisdom of Ebenezer Scrooge (HCI, 2005, 2008), and Facilitating Financial Health: Tools for Financial Planners, Coaches, and Therapists (NUCO, 2008). His work has been featured on ABC News’ 20/20, Good Morning America, and in USA Today, The Wall Street Journal, New York Times, Washington Post, Los Angeles Times, Time, Kiplinger’s, Money Magazine, NPR and many other media outlets and professional magazines and journals. 

There are two steps to claim your certificate. (1) Complete the evaluation here. Certificates will be emailed to you within two weeks. (2) Email the FTA Office with notification of completion of evaluation and what CEUs are requested. Be sure to include the webinar number in the subject line.