Jan 31 2025 53 mins
Conventional wisdom claims that mixing emotions with financial decisions can lead to poor, even impulsive decisions. But what if we instead viewed emotions as super powers that we can harness to not only make wiser, but more meaningful choices for ourselves and our financial goals?
In this episode, we sit down with Brian Portnoy, author and founder of the financial advisor coaching and e-learning platform Shaping Wealth. The lessons on Shaping Wealth apply wisdom from psychology, behavioral science, as well as emotional intelligence to coach financial advisors to be better partners for their clients’ financial journeys.
In addition to Shaping Wealth, Brian is the author of three books—The Investor’s Paradox, The Geometry of Wealth, and How I Invest My Money. Brian also worked as the Director of Investment Education at Virtus Investment Partners, and was Head of Education at Magnetar Capital. Brian holds a PhD from the University of Chicago, as well as a bachelor’s from the University of Michigan.
For more, read Liz’s column every Thursday at On The Money by SoFi, sign up for the On The Money newsletter, and follow Liz @LizThomasStrat.
Notable mentions in the episode:
00:00 Introduction
01:31 Money and Emotions
04:44 Using Emotions to Make Better Financial Decisions
07:16 Emotions vs. Emotional Intelligence
09:19 Setting Expectations with Your Finances
13:58 Managing Emotions Through Market Volatility
17:22 Rich vs. Wealthy
21:15 Money and Happiness
25:13 Budgeting and Setting Goals
35:25 Getting Healthier About Our Financial Well-Being
38:55 AI and Financial Advising
47:51 Closing Thoughts
Additional resources:
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