SummaryIn this episode, Dr. Moira Somers discusses the psychology of money, emphasizing the importance of understanding financial behavior and decision-making. She highlights the role of financial advisors in fostering effective client relationships and the need to overcome procrastination and impulsivity in financial decisions. The conversation explores the significance of building effective financial systems, the emotional aspects of financial choices, and the importance of communication between clients and advisors. Additionally, the episode touches on generational perspectives on wealth, the need for meaning beyond money, and the future of financial advisory in a changing landscape.   Topics Covered in this Episode: 00:00 Introduction to Moira Somers 06:02 Transitioning to Financial Psychology 07:45 Understanding Habit Change in Finance 12:51 The Role of Catastrophic Events in Financial Change 14:44 The Importance of Systems in Financial Planning 16:12 The Advisor-Client Partnership 20:46 Encouragement and Client Relationships 24:31 Common Mistakes Advisors Make 30:59 Effective Communication in Financial Advisory 32:30 Organizational Challenges in Financial Management 34:44 The Evolution of Financial Planning 35:41 The Personal Side of Money 39:44 Cognitive Biases and Decision-Making 41:00 The Future of Financial Advisory 42:02 The Illusion of Superiority in Financial Decisions 47:00 Aligning Wealth with Values 54:16 Finding Meaning Beyond Wealth   Work with Dr. Somers Website: https://moneymindandmeaning.com/ Blackwood Family Enterprise Services: https://www.blackwoodfes.com/ Work with Millen Wealth AdvisorsBook an intro meeting: https://www.mwadvisors.ca/Self-paced tax and investing course for business owners: https://courses.mwadvisors.ca/ Follow Sam and Guillaume on Social MediaPodcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcastSam’s TikTok: https://www.tiktok.com/@millennialmoneycanada?lang=enSam’s LinkedIn: https://www.linkedin.com/in/sam-lichtman/Guillaume’s Instagram: https://www.instagram.com/financialplannergui/Guillaume LinkedIn: https://www.linkedin.com/in/guillaume-girard-cfa-cfp-08487170/ KeywordsPsychology of money, financial behavior, financial advisors, client relationships, procrastination, financial systems, communication, wealth management, emotional decisions, generational wealth