Market Demand Increases for Financial Planning That Goes Beyond Just Money
May 11 2022 - 9:00AM
Business Wire
Equitable announces unique partnership with
Columbia University that teaches advisors to connect clients’ life
goals and dreams to long-term financial planning
Equitable, a leading financial services company and subsidiary
of Equitable Holdings (NYSE: EQH), has launched a unique
partnership and program curriculum with Columbia University. The
program invites financial professionals to study specific
curriculum focused on holistic financial planning and coaching
clients on fulfilling their life goals and dreams. Upon completion
of the program, financial professionals gain a qualification called
the Columbia University Holistic Financial Coach Credential.
Coaching inspires positive financial behavioral change, which is
often the missing piece in financial education. There is a growing
need for individuals to understand and address the emotional and
social components of their financial planning. By better
understanding who and what is most important to clients, financial
professionals can help them as they design the habits and
strategies toward pursuing their best future.
This year, more than 1,500 Equitable Advisors financial
professionals opted into a foundational personal development
curriculum Equitable built that serves as a precursor to the
coaching credential. This initial program is focused on the
financial professional’s personal growth and activating their
unique gifts in service to clients. Financial professionals may
then proceed to invest in the advanced coaching credential—an
immersive training that involves one-on-one coaching and requires
over 40 hours to complete. More than 100 financial professionals
have graduated from the program, with another 100 expected to be
credentialed by the end of 2022.
“This program was formed to meet a growing demand in the market
for financial planning to go beyond the numbers and data,” said
Dave Karr, Chairman of Equitable Advisors. “Holistic Life Planning
is part of Equitable’s differentiated advice model—meeting people
where they are on life’s journey in order to pursue their best
future through finances that enable their purpose and lifestyle
goals. By combining a personal development program for financial
professionals who can continue on to complete the coaching program,
we’re investing in our people and their future which results in
stronger client relationships.”
“Columbia's Coaching Center of Excellence is excited to partner
with Equitable to offer the first of its kind credential that
integrates high-impact coaching capabilities with the art of the
relationship in advisory to help clients realize their financial
goals and lifestyle needs,” said Dr. Terrence E. Maltbia Faculty
Director, Columbia Coaching Center of Excellence, Columbia
University.
The need for holistic life planning reflects a number of social
and demographic trends. One is that people increasingly want advice
and input from a trusted ally who knows and understands their
situation fully. According to research from Equitable, the average
person is not satisfied with the financial advice they’re getting.
Nearly three quarters (72 percent) say it is “very or extremely
beneficial for financial services companies to address needs beyond
just finances.”
Linked to these trends is the fact that people are living so
much longer, the very definition of retirement is changing, and
every person’s definition is unique. Financial planning for life
isn’t a one-size-fits-all or a one-time thing—clients’ lives change
and so do their goals. Financial professionals must understand
their clients’ ever-changing long-term vision and this program
teaches financial professionals and eventually coaches to lead with
thoughtful, selfless questions versus outlining or prescribing
preformed strategies which often leads to a much more informed
understanding of the client’s situation.
The program is also based on psychographics and prepares
financial professionals to coach through life milestones, but also
according to clients’ thinking-style preferences. For example, if a
financial professional is more left-brained and focused on
financial analysis, this program teaches them how to flex more to
be able to work well with clients who have right-brain preferences,
which may require more empathy and possibility exploration, as well
as a broader understanding of the ‘why’ behind the plan.
Samantha Curtin, an Equitable Advisors Financial Professional
and graduate of the program shared, “I have always thought of
myself as more than just a financial professional to my clients.
They trust me, and often come to me for advice in financial areas
beyond traditional investments. This program gives me the tools to
address challenges and opportunities that are top of mind for my
clients, but also to be able to continue to help clients think
bigger picture. In other words, I’m able to have more meaningful
conversations with my clients.”
Chief Sales Officer Jim Mellin explains, “Our clients place
their trust in us to help them build financial security for life.
We don’t take that for granted and therefore are committed to
supporting our financial professionals with learning opportunities
that keep them motivated, at the forefront of the industry, and
prepared to meet clients where they are as concerns arise and goals
change.”
This program extends the relationship that Equitable and
AllianceBerstein have built with Columbia University.
AllianceBerstein has had a Climate Change Collaboration with the
Earth Institute and Columbia Climate School since 2019 that has
provided education on climate change and investing to over 300
AllianceBerstein investors and 1,000 global asset owners.
About Equitable
Equitable, a principal franchise of Equitable Holdings, Inc.
(NYSE: EQH), has been one of America’s leading financial services
providers since 1859. With the mission to help clients secure their
financial well-being, Equitable provides advice, protection and
retirement strategies to individuals, families and small
businesses. Equitable has more than 8,000 employees and Equitable
Advisors financial professionals and serves 2.8 million clients
across the country. Please visit equitable.com for more
information. Reference to the 1859 founding applies specifically
and exclusively to Equitable Financial Life Insurance Company
(Equitable Financial) (NY, NY).
Samantha Curtin is a registered representative of Equitable
Advisors, LLC (NY, NY 212-314-4600), member FINRA, SIPC (Equitable
Financial Advisors in MI & TN), an investment adviser
representative of Equitable Advisors, LLC, an SEC-registered
investment advisor, and an agent (CA Insurance Lic. #: 0E88954) of
Equitable Network Insurance Agency of California, LLC (Equitable
Network, LLC outside of California).
GE-4720836.1(05/22)(exp.05/24)
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Jennifer Compton (212) 314-2010
Jennifer.compton@equitable.com
Monique Freeman (803) 521-4669 Monique.freeman@equitable.com
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