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.
SHOULD I USE MONEYMAX?
already use a risk analysis questionnaire
(or some other type of questionnaire
with my client). How is Moneymax®
measures the client's internal comfort
level of risk as opposed to the level
of risk that the client "thinks they
our research shows that there is only
a small proportion of investors that
can actually "stomach" risk.
also provides information on 12 other
financial traits that were identified
by Dr. Gurney which give both you
and the client insight on how best
to work together.
have been in the industry for years
and I "know" people.
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.
gives your clients objective evidence
that you care about them, in addition
to their money.
don't particularly want to get "into"
psychology with my clients.
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.
- HOW DO I USE MONEYMAX?
do I give Moneymax®?
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.
do I explain why I'm giving it?
you want to understand what your clients
truly need, not what you think they
may need. You're interested in their
point of view.
clients will also benefit from greater
self-knowledge of their uniqueness
and an objective overview of how they
think and feel.
do I administer Moneymax®?
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.
you have your client's completed questionnaire,
log in at the advisor site and input
parts of Moneymax® do I share with
the client or clients?
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.
part of the Moneymax® reports are
most meaningful to me, the advisor?
Where do I focus?
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