Maslows Hierarchy And Values Based Financial Planning
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This document discusses how a values-based financial planner can add value by focusing on more than just finances. It outlines Maslow's Hierarchy of Needs, which ranges from basic physiological needs to self-actualization. A values-based financial planner helps clients meet needs higher up the hierarchy like belonging, esteem and self-actualization by providing coaching, reviews, newsletters and supporting clients' life goals and personal projects. The goal is to help clients achieve a sense of fulfilment and make a difference through self-actualization.
Maslows Hierarchy And Values Based Financial Planning
- 1. How a Values Based Financial Planner adds Level 1: Physiological needs Oxygen, water, nourishment, sleep etc. value Security from perceived threats(Including threats Focus on Cashflow, Assets, Liabilities Level 2: Safety and Security Needs to financial security) Peace of Mind (removing stress and suffering) Provide support through coaching, reviews, Feeling disconnected from people around them: (e.g. when moving through social regular newsletters, personal letters, Level 3: Love and belonging needs transitions such as retirement) birthday cards, seminars, Webinars etc) Focus on life goals progress, ("I said it I did it"), Maslow's Hierarchy Self respect and the respect of others train and encourage personal project planning and Level 4: Self Esteem needs and Values based implementation Financial Planning Support client in doing challenging things that have profound personal meaning, unmotivated by material outcomes, projects that have no guarantee of success Growth and Self Actualisation Level 5: Self Actualisation (e.g. building the dream business, running first marathon at 65, working for free in an under privileged community Fulfilment etc). Make a massive difference in client's lives by helping them move to the level of self actualisation Maslow's Hierarchy and Values based Financial Planning.mmap - 22/07/2011 - Mindjet