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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.

Identity Conversation Takeaways: Building Impact with Behavioral Insights

Over the past few months, Hugh Massie sat down with some of the most influential consultants and entrepreneurs. Through their identity conversations, they all shared the impact DNA Behavior has had on their work.

Before Malcolm Le Lievre from BrilliantFIT met Hugh and was introduced to DNA Behavior, he instinctively prioritized building a relationship with his team. Although he’s always been a results-driven leader, he knew that nurturing team relationships and showing them his support, will positively impact their performance.

When he met Hugh and learned about the power of behavior, it all made sense to him. It transformed him as a leader and changed the way his team perceives him.

Deborah de Jong is the ultimate behavioral design influencer. With a passion for interior design, she took interest in human behavior early on in her career.

Deborah is a renowned interior designer, TV personality, business consultant, and the Founder and CEO of Emmanuel One Pty Ltd. She has been utilizing behavioral insight to create design plans that match her clients’ personalities.

Greg’s biggest passion is to help drive impact. He always felt a deep empathy toward others and has learned to harness that feeling to help and support those around him. 

Familiarizing himself with DNA Behavior’s insights has transformed his work as a coach. As an Engager, which is his behavioral style, he has inert ease connecting with others and coaching them to build impact.

The power of DNA Behavior is undeniable. 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.

Crucial Stock Market Takeaways from COVID-19

This last year will forever be remembered by investors for the impact of the COVID-19 pandemic. Global stocks suffered some of the quickest declines on record, and financial advisors around the world were faced with the daunting task of managing their client’s reactions to the pandemic.

If you had any discussions with your clients about Zoom (ZM), TESLA (TSLA) or, god forbid, Dogecoin, you could agree with me that there are more than a few behavioral finance lessons from the last year. In this blog post, we will cover the top 4 crucial takeaways financial advisors need to consider.

Determining Client’s Risk Behavior

Each individual has a level of comfort when it comes to taking risks, and your clients are no different. Accurately determining a client’s risk behavior canbe critical for long-term financial planning, especially during an unpredicted pandemic. When you know your client on a deeper level, you are able to create the ultimate investment portfolio. One that stands the test of time, market volatility, and global pandemics.

Evaluating Market Mood

Evaluating the current mood of the market is the most efficient way to stop your investors from making impulsive decisions that change investment positions at the wrong time. When faced with a global pandemic, the client’s inherent behaviors will take over. So if they have a tendency to make impulsive decisions, assessing the market conditions will enable you to predict such reactions and manage them. Investors typically have one of two reactions to market events. A reaction to market news they hear regarding movements of a particular index, and a reaction when they see their actual portfolio in their investment app. With the Market Mood API tool, you can measure both reactions; client-specific moods as well as moods powered by market indices.

Assessing Behavioral Biases

Each one of your clients has a set of biases that drives their decision-making process. They tend to be impulsive and lead to less optimal outcomes. Which begs the question, how can you manage your different clients’ emotions as the market changes? When it comes to the financial planning process, some clients tend to make financial decisions based on past experience and personal beliefs. Even though the goal is to make well-considered and forward-thinking decisions, our human bias inevitably gets in the way. The key is to assess their behavioral biases at the very early stages and build a portfolio structure accordingly.

Adjusting Client Communication

Client communication methods cannot be one-size-fits-all. Each investor client that you serve has preferred ways of communicating. When faced with pandemic-induced market disruption, communication is key to maintaining client relationships. Some financial advisors rely on email, others prefer in-person meetings. The truth is, similar to you, your clients have preferred communication. Being able to predict them will enhance their experience with you and develop a trusting relationship.

In conclusion

As the world resurfaces from the 2020 market disruption, now is the perfect time for you to reflect on what took place during the previous year and how your relationship with your clients has been affected. With that being said, one of our most effective tools that bridge the gap of understanding between you and your client’s behavior is our community’s power. Powered by Natural Behavior, Financial DNA pinpoints virtually every human habit: the way investors and financial advisors communicate, invest, work, and live. Start a free trial today, and find out which unique style you match with.

5 Effective Ways to Boost Your Business Referrals

Would your clients recommend you to a friend? 
This seems to be a quite easy and straight forward question. After all, any business owner can name at least one satisfied client that would be more than willing to vouch for them and recommend them to a friend. Or so they think. 

You see, when it comes to managing your business, any leader knows the importance of client referrals. While implementing different marketing strategies provides you with great exposure to potential new leads, acquiring new business through referrals is one of the most effective ways to foster a highly engaged relationship with your clients. 

So if that is the case, why are your business referrals not reflecting the number of satisfied clients you have? 

Here are the 5 most effective ways to boost your business referrals: 

1/ Identify Your Team’s Behavioral Style

The importance of identifying your team members’ behavioral styles lies in understanding their ways of interacting with your clients at a much deeper level. If leaders do not have a good understanding of behavioral differences within their teams, they will not be able to facilitate and encourage their employees to create a meaningful rapport with clients that would deem the business reference worthy. 

Every time your team has an interaction with a client (whether it is an email exchange or a phone call), and no matter what the nature of the exchange is, you should always be able to answer the question: Would your clients recommend your business to a friend? 

On an even much deeper level, you need to ask yourself as a leader if you have provided your team with all the tools they need to provide tailored and satisfactory services to your clients. The way you lead your team makes all the difference, and would instantly reflect on your business referrals. The outgoing, engaging, and conversationalist type of employee will more likely reach out to you with any concerns or recommendations they have regarding the services provided and will offer input and advice on how to serve your clients better and generate more referrals.  On the other hand, a more reserved and quiet team member may not actively speak up and address any concerns they might have unless prompted to do so. 

As you can see, people are different. They all have their own unique behavioral styles and understanding it is the key to bridge the gap to managing these differences and boosting your business referrals on the same occasion. 

A very valuable tool you can use to behaviorally manage your team is our Business DNA Talent Management Solution. Start your free trial today and unleash the full potential of your unique team. 

2/ Anticipate Your team’s Needs

Now that organizations around the world are working from home, the key to managing your remote team successfully is to first understand their level of adaptability to change. Whether it is adapting to new technology or organizational structure, you should always be able to identify the members of your team who are the most adaptable and those who tend to be reticent to change. The most adaptable group of individuals has the potential to help you lead the change, innovate your process, and facilitate your team’s adaptability to new technology.  

When you obtain this level of understanding of your team, you can then anticipate any needs for change they might have and proactively address it. That way, they are less concerned about the changes occurring in the organization, and more focused on your clients’ needs. 

3/ Balance Traditional and Technology

You might think that empowering your organization with high tech fully remote services is a sign of evolution and growth for your business, but you would be surprised at how many of your team members might consider that introduction to technology as a negative disrupter. Getting the balance right between traditional and technology by understanding behavioral differences and managing them is where leadership success sits. Through behavioral insights, you can build a strong connection with your team and unravel those who explicitly want face-to-face interaction, and those who prefer a digital solution. 
Knowing how to manage these differences is the key to your success. 

Remember, when you increase your team’s engagement, it results in increasing their engagement with the clients, which will highly impact your referrals.  

4/ Build a Behaviorally Smart Retention Strategy

If your goal is not only to boost your client recommendations but potentially build a client referral-based business, you need to first and foremost look into your team’s level of engagement and what your employee retention strategy looks like. As we mentioned before, a highly engaged team results in a highly engaged client, which will impact positively on your business referrals. 

The key to building a behaviorally smart retention strategy is to look into your work rewards system. Beyond financial retribution, various rewards motivate your team and your responsibility as a leader is to understand their behaviors, identify those rewards, and implement them in your retention strategy. Whether it is career progression, sense of achievement, or personal growth, motivating your team through these non-financial rewards will increase their engagement and reflect on their rapport with your clients.  

Team development coaching programs can be quite valuable to help you increase your team engagement. The DNA Coach Network is a powerful and private coaching program that has helped thousands of leaders develop their team’s capabilities and achieve their goals.  

Schedule your first call today!

5/ Invest in Coaching Services

Building a sustainable client referral network can not only boost your business, but it also has the potential to propel you to the next level.
While it all seems pretty straight forward and easy to implement, at one point or the other, you will need the help and guidance of an expert. No one knows your own business and your clients more than you do, but when it comes to behavioral insights and how to implement them in your decision-making process, investing in business coaching services is the key. As a matter of fact, the DNA Coach Network is the most convenient, secure, and efficient way to improve your performance and reach your business goals. With full access to a network of coaches, mentors, and advisors you can expect support and partnership throughout the process, absolute confidentiality, and deeper insight into your leadership and behavioral style.
Schedule your first call today and let us take your business to the next level.

Accelerate Your Leadership

Accelerate Your Leadership

“Leadership is not domination, but the art of persuading people to work toward a common goal.” – Daniel Goleman

What is your definition of leadership? What are some of the attributes of great leaders you have experienced? Who are some great leaders that are role models for you?

When it comes to leadership, everyone seems to have a different opinion on whether leadership talents are natural or learned and which talents are more important than others. Opinions also differ around how to develop leadership abilities, what makes a good leader and the best way to lead people. This is not surprising given the complexity of people and relationships, and the fact that each person has a unique perspective on leadership based on who they are.

Many leaders have recently experienced remote working, maybe for the first time. Now is a good time to consider what has gone well and what has been a behavioral challenge.

If you are unfamiliar with your behavior and responses you could well be inadvertently causing problems with your teams. Using the insight of the Business DNA Natural Behavior Discovery, you will gain a deep understanding of your natural hard-wired behavior which is at the core of your leadership talents. This insight is the starting point for informing how people are likely to relate to your leadership style and what you need to understand about yourself to manage those relationships.

The data enables you to personalize your leadership to the individual, remembering that one size of leadership approach does not fit all.

Using our 200+ actionable insights into each person’s behavior, strengths, struggles, communications keys and more, puts you in the driving seat to be able to interact with others on terms that improve their relationship with you and the business, and this inevitably leads to increase in productivity and success.

People who feel ‘seen’ and valued in the workplace – are more effective. This is critical to your leadership approach.

Discovering the Impact of Your Leadership

We have a unique “inside-out” approach to the development of leaders. When you are more aware of your natural behavioral talents for leadership you will be able to understand if you are a result or relationships-based leader. Generally, most people are one or the other. The goal is to develop the appropriate balance between managing results and relationships.

One of the interesting responses we have noticed in working with industry leaders is the importance from their people that leaders have integrity and can be trusted.

In the work we do with leaders and their organizations we firstly use the Business DNA Natural Behavior Discovery tools to understand leadership behaviors. We then use our sophisticated Business DNA Leadership 360-degree discovery to establish how your leadership style is actually impacting the people working with you. This analysis will reflect your “learned leadership behaviors”. It reveals:

• What kind of working environment you are creating?
• Is there a productive energy?
• Are you communicating effectively to build great relationships with your teams?

Developing your leadership style is a continual process. Everyone has some blind-spots, and even biases, but being aware of them is critical. Awareness of your limitations or pressure points gives you the opportunity to manage them. Remembering that being able to manage differences in behavior effectively is what produces an organization focused on goals and success.

Great leaders who are behaviorally insightful into their own and others personality and tend to have an equally discerning understanding of their emotional intelligence. They navigate the behavioral differences they face. They understand theirs and others pressure points. They know getting these right builds trust that leads to successful leadership.

So, understanding your behavioural style is the foundation of your leadership abilities. Of course, we need to recognize that there are many other aspects of leadership to learn as well, execution delegation, communication, time-management, to name but a few. But this basic understanding will set the platform for developing the rest of these areas.

Behavioral Insight Influences the Bottom Line

Quality leadership affects the bottom-line. Effective leaders are thirteen times more likely to outperform their industry competitors. The difference in the impact of a top-performing leader and an average performing leader is 50%. In the area of key metrics like financial performance, organizations with the highest quality leaders were 13 times more likely to outperform their industry competitors.

Organizations with higher quality leadership higher employee retention and engagement rates (up to three times that of their competitors). Source

Having behavioral insight in real-time on any device makes leadership and interaction with people significantly more effective. Simply being able to compare two (or more profiles) in advance of a meeting puts leadership in a strong position to manage conversations effectively.

Why not try it free or talk to one of our consultants – or both.