Why Financial Planners Need Their Own Financial Planner To Feel Financially Empowered with Kenneth White
Today, Ed is joined by Kenneth White, an Associate Professor of Personal & Family Financial Planning at the University of Arizona.
Starting out as a CPA, Kenneth realized early in his career that while he loved the art of money, he hated cubicles. He tried his hand at an investment company before becoming a revenue agent with the IRS. Finally, he decided to pursue his dream of obtaining his Ph.D. in Family Resource Management at Ohio State University, and has been in academia ever since.
Listen in as Kenneth discusses the ongoing research being done on financial well-being and how financial professionals can improve client outcomes. He addresses the common hesitation that one has to be good at math in order to be financially literate, saying that it’s not as important to know how the math works as it is to know what the math means.
Kenneth shares how parents can best pass on life-defining money messages to their kids, and how families that have been historically excluded from quality financial information can go about acquiring that information.
Finally, Kenneth gives his best tips to the next generation of financial professionals, speaking on why altruism is a powerful motivator for one’s career, tapping into client psychology, and why financial professionals need their own financial planners.
Key Topics:
- How Kenneth became a professor in personal and family financial planning (02:06)
- The connection between math and financial literacy (07:24)
- Defining the “time value of money” (10:28)
- Passing on effective money messages to your kids (15:50)
- How minority families access quality financial information (21:12)
- Financial education as a lifelong journey (25:11)
- Educating undergraduates versus graduates (31:38)
- Using a career in financial planning for altruistic reasons (35:46)
- Understanding client psychology (37:36)
- Why financial professionals need their own financial planners (42:27)
Resources:
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