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Financial Wellness More Important Than Physical – US Study Tour 2019

By March 1, 2019June 24th, 2020No Comments
There’s something enlightening, and extremely beneficial, about being away from your routine for a few days.

Stepping back for a short time is essential to future success – and that applies to life and work.

It’s so easy to get lost in the day to day. But while a ‘heads down’ approach has its place it’s just as important to look up.

This gives you time and perspective to reflect on how things are going, consider alternative (and more effective) strategies, and ask yourself and those around you hard questions.

Last month Mark and Adam were in San Francisco on an annual study tour, where they spent a few days sharing knowledge, experiences and exploring links with other advisers, investment experts, academics and technology geniuses.

And they’ve come back full of insights and ideas.

On day one, Shachar Kariv, Professor of Economics at UC Berkeley, concluded that “financial wellness is now even more important than physical wellness”. We’ll share more on this meeting later in the month.

The conversations throughout the next couple of days were all very similar.

Professor Iris Mauss had no past experience of financial advice businesses and was intrigued, and a little confused, about the two financial life managers from Sydney visiting her in the UC Berkeley Psychology building.

It wasn’t long before she understood why, with such strong links between her research into Emotion Regulation and the support Mark and Adam provide to you.

One clear correlation that she has seen from her research, is that materialistic items can have a negative impact on people’s emotions – and this likely comes from poor financial decisions.

If you’ve not read her research, we’d recommend her studies on the ‘pursuit of happiness’ which was covered by the UK’s BBC last year. You can find it here.

We’re going to be working closely over the next year, so we’ll keep you updated.

David Newson, Director of Experiences & Growth at BOS Invest, continued to emphasise the need to stay focused on understanding you (our client), your needs and helping to solve your problems.

As did Carrie Friedberg, who goes by SF Money Coach. She focuses on setting the basics of financial wellness, in the realms of therapy and coaching, before clients delve deeper and look ahead with an adviser.

Similar to Treysta, there’s a big emphasis on understanding client values and psychology in relation to money. And she’s not the only one.

Pluto, an app that supports savings goals, is staying focused on the US market for now as they’ve just launched. But, there’s a lot to learn from their approach and research around younger generations attitude to money.

The design and decision process is based on behavioural and psychological traits of their users, and education is a priority to help younger people handle finances.

This is something that we really believe in and we’ll be exploring how we can bring this thinking and support into the work we do.

If you think this would be helpful, we’d love to hear from you about the challenges you face with your children or other young people in your life, when it comes to money. Get in touch with us at

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