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FOUNDATIONS OF BEHAVIORAL ADVICE A Shaping Wealth Experience

INTRODUCTION The Foundations of Behavioral Advice is an interactive experience for advisors and wealth management firms committed to understanding and improving the human experience of money for their clients - and themselves. Along this journey, you will explore the different building blocks of leading-edge “behavioral” or “human-centric” advice.! One objective of Foundations is to more-deeply engage clients to inspire sounder decisions and better life outcomes. Others include better understanding key trends in the global wealth management industry, achieving even more-fulfilling careers, and building stronger human-centric wealth cultures. Graduates of Foundations will be well-equipped to appreciate how money fits into a life well-lived for their own personal journey as well as that of others.

312THREE “BIG” QUESTIONS The Foundations of Behavioral Advice tackles three important questions. The flow from one question to the next defines the experience of the program.Exploring these three questions builds the foundations of behavioral advice.What does it mean to GUIDE other humans with their money?What does it mean to be a human with MONEY?Money is a recent invention that has collided with brains wired for ancient timesWhat does it mean to be HUMAN?Timeless wisdom combined with modern insights from neuroscience and psychologyFinancial planning is a young industry going through rapid transformation

YOUR JOURNEY The Foundations of Behavioral Advice is a modern learning experience. We emphasize opportunities for interaction and engagement, versus merely one-way transmissions of information. Experiential learning works when participants are given the chance to process, absorb, and “own” the ideas in play. The program blends elements of expert instruction with the Shaping Wealth team, peer-to-peer discussion, self-paced learning, and guided individual reflection. You will have access to a proprietary learning portal for easy and fun access to the video, audio, and written content. The portal empowers busy professionals to review and reinforce key learning moments. Those seeking an even deeper dive will benefit from a curated library of supplement content.Live session #1: Being HumanLive session #2: Mechanics & GuidesLive session #3: Rightsizing AdviceLive session #4: Meaningful MoneyInterim “challenge” Including self-paced engagementInterim “challenge” Including self-paced engagementInterim “challenge” Including self-paced engagement1234567

MODULE 1: Being Human To understand and improve the human experience of money, we must start at the very beginning: What does it mean to be human? In this first session, we’ll explore some of the most significant questions about what makes who we are. We will learn that we are storytellers, meaning makers, time travelers, risk takers, and much more. Along this winding, fascinating tale of how we have evolved to now navigate our always-on, information-soaked world, we will engage in some mind-bending experiences that highlight some of the quirky but relevant elements of the human mind. This module’s training will allow you to: •Examine the so-called “paradox of prosperity” revealing the fraught relationship between material abundance and psychological wellbeing. •Interpret how the evolutionary mismatch between our “old” brains and the “new” world creates enduring cognitive and emotional frictions. •Explain how our “dual track” mind’s distinction between “slow” and “fast” thinking creates mental shortcuts that impact decision-making. •Articulate how our numerous cognitive “biases” reflect normal, adaptive human behavior, not flaws or irrationality.

MODULE 2: Mechanics & Guides What's at stake with “the human experience of money”? In this module, we illuminate the emergence of money ~ 3000 years ago, the challenges of achieving financial wellbeing in modern society, and how the modern financial advice business has evolved to address them.! We detail how modern advice firms help families along life's journey by serving as both “mechanic” (skilled in the technical dimensions of planning) and “guide” (wise in helping others shape a life of money and meaning). This module’s training will allow you to: •Explain why money is one of our most important – and complex – social institutions which, for psychological reasons, is difficult for us to understand and discuss. •Enumerate seven distinct psychological experiences of money. •Articulate the four different dimensions to financial wellbeing, especially the idea of “funded contentment.” •Detail the evolution of the financial planning profession over the past half century, with its adaptation from transactional to relational.GEOMETRY OF WEALTHBUILDING THEBEHAVIORAL ADVISORCREATIVE DESTRUCTION

MODULE 3: Rightsizing Advice The advice business has traditionally anchored on analysis, logic, and numbers. This strong tilt toward so-called “left-brained” thinking has downplayed how emotional intelligence is central to effective financial guidance. We “rightsize” advice by recognizing that human-centric wealth cultures are grounded in EQ. So-called “soft” skills are actually harder to obtain, practice, and scale than the more-mechanical skills. Plus, they better distinguish the modern advice firm. High EQ individuals and cultures stand apart from their peers, creating an edge in today’s competitive wealth management marketplace. This module’s training will allow you to: •Grapple with the concept from modern neuroscience that we are not thinking machines that feel, but feeling machines that think. •Define the four dimensions of emotional intelligence: self-awareness, self-regulation, empathy, and relationship skills. •Articulate how higher-EQ individuals have advantages in communication, problem-solving, managing change, and maintaining optimism. •Strengthen self-awareness and empathy through guided discussion and exercises.

FUNDED CONTENTMENTMODULE 4: Meaningful Money Are financial advisors responsible for their clients’ happiness? This provocative and controversial question begs an investigation into the sources of human flourishing. What is happiness, how do we achieve it, and how might we guide others along the same journey?! The discussion will anchor on the notion of “funded contentment” – the idea that true wealth is the ability to underwrite a meaningful life. Discussions of funded contentment bridge big questions about a life well-lived with the day-to-day of delivering better client outcomes and building stronger cultures. This module’s training will allow you to: •Distinguish between two distinct understandings of the concept of “happiness” and their relevance for financial planning. •Apply the psychological idea of “hedonic adaptation” to our hard-wired quest for “more” in life, and its impact on helping clients achieve their goals. •Explore the relevance of the four deep sources of contentment for our own lives and for financial planning. •Express a nuanced view on the age-old question: Does money buy happiness?

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Produced by Shaping Wealth www.shapingwealth.com@shapingwealthshapingwealth