Give your financial advising some personality with Financial Psychology's Moneymax quiz

Moneymax® FAQs Product Support

Below is a list of Moneymax® FAQs, as well as technical issues pertaining to Financial Psychology. Please read through the FAQs before contacting FPC for support. If you still have problems, or cannot find the answer to your inquiry, please contact FPC for further help. Thank You.

Why Should I Use Moneymax?

I already use a risk analysis questionnaire (or some other type of questionnaire with my client). How is Moneymax® different?

Unlike a risk questionnaire or other assessments on the market, Moneymax® offers a more complete look at a client's money mindset. A risk questionnaire judges only their comfort level with risk. Interestingly, our research shows that there is only a small proportion of investors that can actually "stomach" risk.

If you want to better serve your clients and impress prospective clients, you need to understand the full picture of how they understand money, not just their risk level. Moneymax provides information on over 12 financial traits identified by Dr. Gurney. This all-encompassing perspective allows you to better serve your clients.

I have been in the industry for years and I "know" people.

Rapport isn't enough. Time after time, our advisors report long term clients telling them about money the advisor didn't know they had because the client finally felt comfortable with the relationship and felt their needs were being met.

Moneymax® gives your clients objective evidence that you care about them, in addition to their money.

I don't particularly want to get "into" psychology with my clients.

Moneymax is not a system to make you into an instant psychologist. It is a tool that addresses the psychological aspects of money and presents it to both the client and advisor in plain English in a way that is clear and objective-taking out the mystery of the hidden motivators.

Moneymax - How Do I Use Moneymax?

When do I give Moneymax®?

It can be the very first thing. Why guess at what drives your client's money decisions? Moneymax helps you establish objectives as soon as possible.

How do I explain why I'm giving it?

Because you want to understand what your clients truly need, not what you think they may need. You're interested in their point of view.

Your clients will also benefit from greater self-knowledge of their uniqueness and an objective overview of how they think and feel.

How do I administer Moneymax®?

Use one questionnaire for each client. In most cases, give your clients the hard copy version instead of having them complete it on the computer. You want this to be a personal and private process for them. Allow them to take it as privately and quietly as possible. It should take 5-10 minutes. Remind couples to restrain from discussing answers while completing the Moneymax questionnaire and always get a separate questionnaire from each.

After you have your client's completed questionnaire, log in at the advisor site and input their responses.

What parts of Moneymax® do I share with the client or clients?

All of the reports can be given to the client, except for the Professional Report. This report includes the client interaction strategy which is for advisors only and should not be given to the client.

What part of the Moneymax® reports are most meaningful to me, the advisor? Where do I focus?

The Trait Report provides the most personalized information about your client and is the most effective report to focus on. Use the information in the Professional Report that discusses the client interaction strategy to help position your communication style.

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