Financial planning with a hint of sociology?

Economists and sociologists may have very different views of the world but what about combining some of both in financial planning? Here is a financial planner who argues he has an extra edge because he incorporates insights from sociology and a few other fields:

William Pitney, Financial Coach and President of Focus YouNiversity, LLC (FocusYOU), continues to enhance his expertise as a Sudden Money Advisor. Pitney attended the one-day workshop held in Portland, Oregon on April 19th as a requirement of the 12-month coaching program. The program is designed to provide a deeper understanding of the Financial Planning Process developed by Susan Bradley, CFP® and founder of the Sudden Money® Institute (SMI).

During the workshop, Pitney acquired new skills for navigating clients through financial and life transition events, allowing them to feel more confident as they move forward. SMI provides Pitney with access to the latest research, tools and processes to guide clients through Sudden Money and life events.

Traditional financial training and advice address the facts and figures of money only. SMI provides advanced training that also addresses the emotional and human side of money. “The skills and protocols I’ve acquired through Sudden Money enable me to advise clients in transition more effectively and makes it more comfortable for them as they go through these turbulent and often life altering transitions,” said Pitney.

As a Sudden Money Advisor, Pitney is among a select few professionals with expertise combining the fields of financial planning with cutting-edge research in neurology, sociology and psychology. These techniques integrate the technical, rational aspects with the human experiences of the person in transition.

Is there any evidence that incorporating sociological factors into financial planning leads to increased returns? If so, this could be lucrative for some sociologists down the road…

 

One thought on “Financial planning with a hint of sociology?

  1. I just found your site. Interesting observations.

    Too many people equate financial Planning with investment management. While investments are a subset, financial planning is not simply about investing or investments. Financial planning is really about helping people make better financial decisions in our complex world. Unfortunately, many in the investment world have conflated the two.

    As for evidence, there is growing academic evidence that show people make smarter decisions and behave more rationally when working with Certified Financial Planner professionals. In particular, those of us who embrace the human element of money. To learn more about those of us who integrate the human side of money with the objective side of money, visit http://www.SuddenMoney.com.

    By the way, I’ve always been fascinated with sociology, it was my major in undergrad and I spent two years studying in grad school. I started in the PhD program, but the publish or perish didn’t suite me. I enjoyed doing the research, but not the writing. I would have perished.

    Thanks for your musings.

    Like

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