Genuine Identity and Purpose: The Money Will Flow

– First Published on Nasdaq –

How does knowing your identity impact how you relate to other people? What part does it play in boosting confidence? Throw the emotional and gravitational pull of money into the mix, and where does knowing or not knowing your identity fit?

There is no doubt that understanding your identity reflects who you are at the core. It informs the direction of your life. It highlights the importance of your communication style, whether professional or personal.

Here, we speak of identity as your inherent or innate passion and purpose and the associated behaviors, good or bad.

People, then numbers

It may go without saying that we are all different and being able to manage differences enriches relationships. That can be particularly impactful in the financial services industry, where the emotional pull of money is front and center.

In fact, understanding the identity of clients is foundational to the advisory process. The same is true of advisors knowing their own identity. On a day-to-day basis, advisors need to be able to adapt their own communication to those of others. For example, they need to know when to be direct, inclusive, soft, a listener, or a counselor.

When knowing identity focuses on the advisor-client relationship, walls come down, creating a much healthier framework for delivering advice. Advice that is likely to be more accurate and lasting. Clients know when an advisor genuinely knows them and cares about their life goals, plans, and wealth creation. They know when advice is more about people than numbers.

Money decisions are different

I’m passionate about pioneering the understanding of money behavior. We of course all have innate behaviors and understanding those behaviors – especially as pertains to decision making – is particularly challenging but also particularly revealing when it comes to money.

Money impacts every aspect of our lives. Money can power our lives positively or negatively, regardless of the amount of money we have.

But what I’ve confirmed over the past few years is that when individuals know their identity, they can put money to work for them positively. As a result, they tend to make fewer decisions – about money and finances but also about other things – that impact them negatively.

When you know your identity, you know your talents, and you know your inherent behaviors, leading to wealth creation via applying your skills and building meaningful, supportive relationships. Whether you are an individual investor or leading a team or organization, it’s essential to understand the energy of money and people’s relationship to it.

Identity as info & armor

We live in a world that is highly dynamic and interconnected. Whether the speed at which we all work, the many ways technology has shaped what we do, or the deluge of opportunities coming at us, we need to be able to flex. To adapt at a moment’s notice.

So, if identity is what shapes and protects us, we understand who we are and our inherent reactions, and we can flex and adapt securely. We are less likely to make bad decisions. Instead, we see opportunities for what they are and choose whether to grab them or walk away.

A cautionary note for advisors and industry leaders is that the environment changes regularly inside a business and in people’s lives. Unless identity is known, you have no way of anticipating how clients will respond to life challenges. In reality, you are advising and leading the (figuratively) blind.

As an advisor, knowing your own identity is transformative. It increases and clarifies the quality of the questions you ask your clients, the observations you make, and the guidance you provide them – including how and when you communicate with them. You know the importance of getting to foundational stuff that means the advice you give or leadership style you adopt is suitable for that individual in that scenario at that time.

The clarity of identity

Whatever your life circumstances are, discovering a robust identity and then living it is the pathway to accelerating your advancement. There are no magic bullets here. There is work and focus involved.

Once you get the clarity of your identity, your confidence will dramatically increase. Confidence is the Number One influencer of performance. The journey will be highly positive, and through it, you will be a better person, at work and at play. And, as an advisor, you will have a better business.

It’s true for both advisors and clients: Genuinely live your identity and your purpose, and the money will follow.

See Hugh’s other writings for Nasdaq here.

Your Identity Sets You Apart From Other Advisors

What sets you apart from other advisors? Are you all about the “doing” in your role as an advisor and less about the essence of your being?

As the sardonic writer Kurt Vonnegut once said, “you are a human being and not a human doing.”

Discovering your identity — the concept of who you are and who you choose to be — has impact on every choice and decision you make, including in knowing what your life goal is. Your identity helps you and your clients become more secure in yourself. And self-insight fosters a clearer “vision” about yourself and those you serve.

So what are the steps to achieve self-discovery for yourself and your clients?

1. Identity is a critical factor

An interesting theme is emerging from my “Identity Conversations” with industry leaders. Leaders want to run businesses that are known for more than just numbers on a balance sheet. Many have spent the past year reviewing their life journey and some have changed the direction of their organizations to reflect a more meaningful way of doing business. 

Interestingly, advisors who are determined to make these changes for themselves also realize that their clients want to invest differently. Clients are also modifying their life goals to reflect a more meaningful direction.

The discovery of your identity is crucial for both your personal growth and business growth. In many cases, the identity of a business is strongly correlated to the leader’s identity. And what I find is that people’s identity may be the most critical factor affecting their economic lives.

2. Decode clients and their wants

The financial services industry is full of analytical doers. There will never be a shortage of intelligent finance people who are able to analyze the markets, not to mention all the software programs they have at their fingertips to assist them.

But what is missing – and only slowly coming to the fore – is the importance of understanding behavior. There are fewer people in finance who understand investor mindsets. The ones who can analyze and guide clients to achieve their life goals are able to focus not just on returns but also on quality of life.

So this would be the differentiator for a financial advisor: be able to decode exactly what a client wants to achieve with their money. But this can only happen when financial advisors first stop and explore their own identity. 

3. Move from “doing” to “being”

Knowing and embracing who we are is the key to understanding our identity. “Doing” often means hyperactivity in our chosen careers. This often gives little to no time to understand ourselves, clouding our values, impacting relationships and causing us to behave in unacceptable ways.

Additionally, sometimes how busy we are causes us to question our life journey. This past year has caused many of us to ask, what am I doing with my life?

If you have had these aha moments, so have your clients. In fact, those I’ve been having conversations with recently have shared that it is so important to go through a self-discovery process. They said that moving from doing to being has positively affected their quality of life, and that they have been influencing and guiding their clients through a similar process.

4. Wealth management refocused

Let’s be clear, though, this has not changed the need to invest in wealth creation vehicles. What has changed is the “why” of doing it and where you are investing or re-investing. For example, there has been a renewed focus on ESG investing (Environmental, Social and Corporate Governance), but that’s a story for another day.

When we know our identity, we are less likely to be influenced by unsuitable advice. We take control of our own decision-making and no longer feel powerless.

I know that’s easier said than done, but is it that difficult? When advisors know and understand their own identity (and that their intentions to clients are not just about activity but about real purpose), working with clients to achieve life goals based on a mutual understanding of identity becomes much easier. This becomes the secret sauce that sets financial advisors apart and improves client outcomes.

So work with clients to find their true identity. Communicate, not as a salesperson, but as someone who genuinely wants to steer clients through their biases, leading them to an investment strategy that meets both their identity needs and wealth creation needs. 

If understanding your identity or the concept of “doing” rather than “being” resonates with you, I’d love to hear from you. Your questions. Your experiences. Your journeys.

See Hugh’s other writings for Nasdaq here.

Unlocking the Power of DNA Behavior

Over the past few months, Hugh Massie sat down with some of the most influential consultants and entrepreneurs in the financial and behavioral space. What do they all have in common? They’ve been exposed to DNA behavioral’s insights and unlocked its power to move their businesses forward.

When Kenyatta Turner from Freedom Empire Consulting took the Business DNA assessment a few years ago, she had already been on the growth and personal development path. The DNA Behavior assessment brought her not only clarity but the validation that it was time to step away from a career path that no longer served her long-term goals and embrace her true passion.

When Kim Curtis from The Wealth Legacy Institute and Hugh first met, she was seeking to have deeper and more meaningful relationships with her clients, beyond the money factor. So when she was introduced to the DNA Behavior tool, she realized exactly what she was missing. She first took the assessment herself to understand her particular skill sets, then implemented it in her business and her relationships with her clients.

Through her years of experience, Robyn Clay from Linktank realized that being a technology integration expert is similar to being an interpreter. Your role is to facilitate the use of technology by the team. With the support for DNA Behavior’s insight, her competitive advantage has been her strategic approach in connecting people and technology.

The power of DNA is incontestably real. It gives you and your team the strategic advantage you need to move your business forward. If you’re ready to stop the guessing game and leverage our 500+ insights, take our assessment today and let’s uncover your behavioral style.

Identity Conversation with Hugh – Connector of Technology to Feelings

Being a technology integration expert is similar to being an interpreter. Your role is to facilitate the use of technology by the team. This is the topic Hugh Massie and Robyn Clay discuss in this Identity Interview.

Robyn Clay is a director and chief relationship officer with Linktank, which is a technology integration business working in the financial services industry in Cape Town, South Africa.

The Behavior of Love: A Tale of Two Words

As the world readies to celebrate Valentine’s Day in the age of quarantine, we can’t help but reflect on the meaning of love. Some perceive it as the purest and most sincere emotion you can feel, others see it as a sign of a deeply committed connection. We spend our lives chasing it, make sacrifices to keep it, and dread letting it go.

What if love was simply a behavior? An inherent, teachable, undeniable behavior. How different would our perception be?

Behavior Vs Feeling

Raise your hand if you use the word love to describe a feeling at least 5 times a day. You love your local football team, you also love that restaurant you ate at once, and you probably love your job. Now, before you say that there’s nothing wrong with using the word love to express your feelings, allow me to bring to your attention that it is my point exactly; it is a feeling not a state of love.

Should you be open to the thought, if we went ahead and considered love as a behavior rather than a feeling, you would be able to unlock a much deeper connection with your loved ones.

Making a Case for Love

Although love is considered to be a universal language, every person is different in the way they express it. Your partner’s love language might be making you coffee every single morning, your mother’s love language could be cooking you food and trying to feed you every time she sees you, etc. The reason why you know for sure that they love you is because they behave in that regard. When someone behaves lovingly towards you, that means they love you. Our lives are governed by our behaviors and those of others, so the advantage of thinking of love as a behavior rather than a feeling is to empower you and give you more assurance in the decisions that you make every day. Especially those based on love.

Works of Love

Perceiving love as a behavior rather than a feeling can also have its advantages in the workspace. Here at DNA Behavior, we are strong advocates of our Natural Discovery process. It is the most effective method to uncover our behavioral styles and pinpoint particular traits that rule the way we communicate, invest, work, and live. Once you are able to understand your team at a much deeper level, you can predict what motivates them, engages them, and challenges them. Understanding your behavior and that of others enables you to better express your love, support, and appreciation. You see, as human beings, we are on a never-ending quest to find love. Not only in the traditional sense of the word, but also at work. Embracing the power of behavior can enhance your life tremendously on both personal and professional levels.

In Conclusion

Although this year’s Valentine’s Day coincides with a world drenched in a state of a global pandemic, it still is an opportunity for us to reflect on what love truly means to us. We believe that through behavioral coaching, and scientifically validated behavioral discovery, you can move forward and redefine the behavior of love.

Our Word for 2021 Is Authenticity

It has been a frequent practice as of late to choose a focus word that would sum-up your current or upcoming year. The purpose of it is to set an intention, a goal you seek to achieve, or a quality of some sort that you want to ensure you actions throughout the year are being filtered by.

The start of a year is usually a natural time to reflect, celebrate, and plan. What has been known for decades as new year’s resolution has now been reframed as new years intentions.

This is something that we at DNA Behavior have been doing for years. We built our process to be inclusive of many qualities, the main one being authenticity. You see the process of gathering scientifically based behavioral data is interesting. Filled with comments and contradictions.

We at DNA Behavior have seen and heard them all. The most often heard is:

  • that is such an accurate report about me
  • I thought completing the process would be easier
  • but the process was hard
  • I didn’t know which way to respond
  • I had to just go for it
  • look at how accurate the outcomes are
  • I really like the DNA results, but the journey was hard

And so much more. We make no apologies for the 10-minute DNA Natural Behavior Discovery questionnaire using 138 different words in 46 interlocking Forced Choice Questions. The questions are deliberately tight so that a specific outcome is achieved. Definitely, a right data in, right data out approach has been taken.

We know the importance of being able to authentically defend our discovery process is why we are so well positioned in the marketplace. When the DNA Discovery Process was designed it was critical, too, that the questions removed situational, cultural and educational biases and could not be easily gamed. Further, at all costs we wanted highly predictive measurable behavioral insights which would be universally applicable across the globe for all people and remain true for the long term regardless of the situation or circumstances the person is in. In other words, it would get to the core of who the person is. We knew this holy grail of behavioral measurement could be achieved and is forever grateful for the knowledge and guidance of Carol Pocklington and Lee Ellis to show the pathway.

Yes, we could simplify the questionnaire, but why would we? That said, we listened to our customers, and one of the important business keys we discovered was that customer concerns are a rich source of marketing material. One of our friends – David Rendell talks about in Freak Marketing that looking to your greatest weaknesses will be sitting your greatest strength.

If customers were loving the outcome but not the process, what was this saying about our discovery process? We discovered (though we knew it) that our process may be antagonizing our customers by the tight choices it asks them to make when choosing Most Like and Least Like from 3 non-situational words or phrases across 46 questions. Some say, I am all of those in about 6 to 8 of the questions.

What the questions are doing is getting the participant to prioritize their greatest strengths/talents. It is not saying for the 3 choices they are not like them in any way. In varying degrees, we exhibit all the words in some situations. It is more about how regularly and strongly the behaviors are exhibited.

Overall, we found ourselves being able to offensively defend the questionnaire since it more reliably delivered better, deeper and more incisive insights into unique behaviors over long time periods. Again, when you must make serious decisions, do you want to participate in a fun and sometimes lengthy process which gives you a shallow and unreliable result? Or, would you rather participate in a quick but tight process which provides a deep set of very accurate insights that will be true for your life time?

Our purpose with the DNA Discovery process is to uncover the natural DNA behavior that sits below the surface; it is not seen because it is masked by the more dynamic (situational) learned behaviors that are shaped by the person’s life experiences, education and values.

Therefore, a person’s overall personality, at any stage of their life, may be seen to change, but their core natural behavior will remain very consistent. Further, revealing core natural behavior draws out their inherent talents, strengths and struggles (blind spots) and communication styles.

The DNA Behavior Natural Discovery Process was designed to holistically uncover, capture and measure all dimensions of a person’s natural DNA behavioral style as the core of their personality. That is their ingrained, go-to, hard-wired behavior that was set by the time they were 3 years old. This is how people inherently make decisions, take direction and work with others; how they interact and build relationships, achieve results, handle information, complete tasks, develop trust, set and achieve goals, take and live with risks and their learning styles. This also includes their communication style, financial decision-making style, behavioral (finance) biases and their response to market movement (as an example).

After significant academic research and discussions with our independent team of experts, we selected the Forced Choice Assessment Model over the more traditionally used Normative (Likert-type) Scaling Model for measuring Natural DNA behavior. This led to the design of the DNA Natural Behavior Discovery Process; a system capable of assessing 8 major personality factors as well as 24 related sub-factors. The fact we can reliably measure 32 behaviors from 138 words across 46 questions is remarkable given that other systems need 15 to 25 questions to measure 1 behavior with less accuracy.

So, what is the Forced Choice Assessment- The traditional Forced Choice Assessment format is a descriptor used in psychometrics to signify a specific type of measure in which respondents compare two or more desirable options and pick the one that is most preferred. This is contrasted with measures that use Normative/Likert-type scales, in which respondents choose the score (e.g. 1 to 5) which best represents the degree to which they agree with a statement. Source: https://en.wikipedia.org/wiki/Ipsative

A correctly structured Forced Choice format using singular words (versus sentences and statements) presents the individual with item options that are equal in desirability with situational, cultural and educational biases removed; this ensures response choices they make will be far less likely to be influenced by social desirability, circumstances, experiences education or environment. Therefore, the outcomes will reveal inherent behaviors, hardwired core traits and strengths and struggles of the person being assessed which are universally applicable.

We are aggressively authentic in defending our method, the outcomes and the process. Were not embarrassed about this. Our approach is intentional.

Tight questions, using the Forced Choice methodology, get great life results and outcomes which are very strong. This enables individuals to understand their unique inherent behavior and from that position make strong life and business decisions.

The Forced Choice format forces the participant to instinctively choose their answer, and respond more truthfully, as there is not one obviously desirable quality to pick from. Also, the Forced Choice format reduces the potential for the participant to agree or disagree. A Forced Choice format using triads of items (a block of 3) enables greater insight into the interactions between the items for enabling more specific measurement of the behavioral factors (traits).

Further – the results place behavioral knowledge firmly in the hands of the individual. From this position –

  • They are better able to understand who they are in terms of strengths and struggles.
  • They have substance upon which to base life, financial and business decisions.
  • It tells people how to manage their communication style.
  • It reveals talents both overt and hidden that can be applied to career choices.

One of the important outcomes of this discovery approach is to understand that strengths, (upon which most people focus) can, under certain circumstances, become struggles and are difficult to manage without self-awareness and knowledge.

Why not spend 10 to 12 minutes learning about your own unique natural DNA style. Take the Business DNA Natural Behavior Discovery process or the Financial DNA Natural Behavior Discovery Process. Use the link below to take you to the questionnaire.

This scientifically based and validated discovery will reveal significant aspects of your natural behavioral style that is the core of your personality. It will help you as make healthy life, business and financial decisions.

Contact us if you would like to discuss this. Our highly skilled consultants will provide you with feedback on the discovery and help you to take the next step in building a behaviorally smart life. To learn more, please speak with one of our DNA Behavior Specialists (LiveChat), email inquiries@dnabehavior.com, or visit DNA Behavior