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  • Writer's pictureBrad Wooten

Why you should consider a Behavioral Financial Advisor

As part of my CPA Firm in Lake Nona, a community within Orlando, FL "the City Beautiful", I receive a lot of questions and comments related to personal finances.


"Are we saving enough?"

"We make plenty of money, but we still can't seem to get ahead."

"We want to start budgeting, but we don't know where to start."

"We want to save more, but we don't make enough." "We want to buy a house, but that seems impossible."


I have always been drawn to topics related to personal finances and I have always enjoyed coming alongside others to see them progress towards their personal financial goals. I have typically done this as a side discussion in tax appointments or with friends during personal conversations.

However, I will now be offering financial coaching services through my firm. These conversations (and the benefits and growth that come from them) bring me life and I want to have more of them. So what about this Behavioral Financial Advisor (BFA) certification?

In the hundreds (probably thousands) of conversations I've had, it has been apparent to me that the vast majority of people do not fail to realize their financial goals due to a lack of knowledge. It is almost always due to behavior (habits) or deeply ingrained money beliefs (developed by life experience, parents, other mentors).


There is a knowledge component to reaching your financial dreams, but today knowledge is easily accessible. Discerning which advice that is readily available is good advice is a challenge, I admit, but advice is everywhere. Yet, people still seem to be stuck and failing to achieve their financial goals. The key to this is neurological and psychological and I desire to understand these components better in order to help people move forward.


Behavioral financial advice is "the practice of integrating traditional finance practices with psychology and neuroscience to improve emotional competence and decision-making behavior."** In order to see real, lasting success we have to acknowledge that emotional and practical challenges are more likely to hold us back than technical knowledge and understanding the math behind good advice. The BFA training, certification, and required continuing education will better equip me to serve clients in a way that helps them finally overcome these invisible hurdles that have been holding them back for a long time. This is the reason I have begun working towards this certification.


You aren't crazy. Everyone else isn't just better at this than you. What is logical to one person might be ridiculous to another because we all have different life experiences. Let's begin to discover your deep money beliefs together, how they impact your finances, and figure out what your financial dreams are (not what someone is telling you they should be). Once we do that, you'll experience peace in your personal finances like you never have before. Click here to learn more.


-Brad


I enjoy helping individuals with tax preparation and tax planning as well as offering financial coaching to individuals (and businesses) looking to overcome challenges and reach their financial dreams. I also service businesses (including nonprofits and churches) by providing tax preparation and tax planning as well as consulting for accounting, bookkeeping, and other finance related questions. I live in Orlando, FL, but I serve clients all across the country. Contact us if you need assistance and take a look at the resource page.


6900 Tavistock Lakes Blvd Ste 400

Orlando, FL 32827

(407) 243-8678


Serving clients in Orlando, Lake Nona, Altamonte Springs, Apopka, Azalea Park, Celebration, Hunters Creek, Lake Buena Vista, Lake Hart, St Cloud, Winter Garden, Winter Park and via the latest technology remotely around the country.

*The blog posts (as well as the YouTube channel) are my personal opinions and thoughts about a wide range of topics. They are not meant to apply to individuals specifically and should never be relied on as tax or investment advice. You should contact a professional for specific advice before taking action.


**https://www.think2perform.com/behavioral-financial-advice-program/


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