Emotional Intelligence and Holistic Financial Planning

By Joanna G. Burish

When looking for a home to buy, the No. 1 thing that people use to make a decision is how they feel walking into that home. When building a new home, it’s also important that the homeowner feels comfortable with the builder, the design and the construction process.

Now, consider not having any experience in home construction. Would you draw up the house plans yourself? Most of us (who aren’t architects or builders) would say no! You’d hire someone who knows what they’re doing that is highly regarded for their expertise. Then, once your new home is built, you would insure it to protect against any damage or loss. And your banker will insist on this to protect their investment in your home as well. This all makes sense, right?

When it comes to your financial future and security, how is it that 75% of Americans manage their own money and retirement plans, and only 17% hire a financial advisor to help them? According to a CNBC study, only 31% of those age 65 and older and 7% of those ages 25 to 34 hire a financial advisor. Besides your health, financial security is the most important area to plan for today, as it covers all of your present and future goals. Yet, it’s one area people hesitate to hire an expert for help. There are a few reasons for this.

First, people feel that it may not be worth it to work with a financial advisor as there is a cost — such as the 1% fee of assets managed. Second, even without experience, many think they can manage their money themselves just fine. (Or, they ask friends or family for free advice). This second point is where people may not see the fault in this plan until the market declines, as it has this year, or they realize much too late that they didn’t consider the tax implications of this free advice. Lastly, they are nervous about being judged for their lack of knowledge or feel shame about the current state of their finances. This is especially true for women — we are not great about asking for help! This is where emotional intelligence (EI) can help you.

EI is a psychological characteristic that describes how effectively an individual identifies, understands and regulates emotions and then uses them in problem solving and decision making. When looking to empower your financial future, finding a holistic financial advisor with high EI is key. They will take the time to ask the right questions and truly listen to your goals and vision for your future, and then help construct a plan to that future — with protection built in. An advisor with high EI is not like an old-school advisor who will make you feel like you’re going to the principal’s office each time you meet! They will be patient answering your questions and help you understand the value of how this plan empowers your big picture while keeping you motivated to implement it. You may even learn from your holistic financial advisor on how to increase your own EI, which empowers every area of your life. This kind of relationship will only get stronger over time as you will feel heard, valued and empowered on many levels.

The relationship I have with my clients is what makes my profession a blessing, as some clients have become friends over time. Holistic financial planning and emotional intelligence together create a bond that allows me to be part of the success stories of my clients’ lives. I’ve followed them throughout their growth and careers, as they’ve followed me. You deserve that kind of experience, so if you’d like to meet with me and my team to learn how EI can empower you, we’re happy to help!


Contact Joanna Burish directly at 608-658-3482 or [email protected]

Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM) (life and disability Insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries, including Northwestern Mutual Investment Services, LLC (NMIS) (investment brokerage services), a registered investment adviser, broker dealer, and member of FINRA and SIPC and Northwestern Mutual Wealth Management Company®(NMWMC) (investment advisory and trust services), a federal savings bank. NM and its subsidiaries are in Milwaukee, WI. Joanna Burish is an Insurance Agent of NM and Registered Representative of NMIS. Advisor of NMWMC.

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