If you’ve been a financial advisor for any period of time, you know that client’s compare themselves far too often. It’s just human nature. When left unchecked social comparison can often lead to a negative relationship with money.
But what if there was a way to channel your clients’ natural tendencies to compare themselves in a positive way that drives positive outcomes?
With Elements there’s a way.
Meet Johnny Line
Johnny is the founder and only advisor at Line Financial, a boutique planning firm focused on helping dentists.
Johnny began using Elements in 2023 as a way to provide clients a way to compare themselves to other dentists. Johnny uses Elements’ client views in every meeting with clients to show them how they compare to their peers.
In a recent webinar about how to use social comparison, Johnny shared how he uses Elements to give his clients a chance to compare themselves to their peers…
So that was the original starting point of using this was to try and encourage better behaviors in certain parts of their financial plan and to use some of that social comparison as a motivating factor. And then as I really started getting into it, then all these other stories and kind of opened up visiting with clients about it and clients were real anxious to see how they stack up... One of the questions I often get when I do the financial planning meeting is how am I doing? How do I compare with my peers? And I can show them. I used to just talk about it in general terms, now I just pull it up, show it, show them a list of people and show them where their net worth is, their savings rate, and we can compare all that in each client