Hat tip: Sharon Epperson for finding this item on CNBC. It is a high level piece about couples managing money together, but the five keys are all good:
- Be open about money missteps
- Keep your emotions in check
- Know what you owe
- Deal with money matters as a team
- Have regular money conversations
Read more and view the video at this link.
It is hard to critique your own process and examine where you may not be having the right conversations: that applies to clients, and to advisers. If you are concerned that you may not be dealing with issues like this, or feel uncomfortable about them, then you may need an understanding industry friend or colleague who can help you. This is a good time of year to put your advice process through a warrant of fitness. That doesn't just mean compliance.