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Founding Strategic Advisor

Meghaan Lurtz

Meghaan R. Lurtz, is a Senior Research Associate at Kitces.com. In addition to her work on the site, Meghaan teaches at multiple universities. Meghaan has finished her Ph.D. in Personal Financial Planning at Kansas State University. Meghaan is a past President of the Financial Therapy Association. Working with Financial Planners Meghaan saw the need to bring client-focused psychology into the planning process. An experienced business advisor, from her background in I/O Psychology, she combines her love of people and pro-active mentoring with specialized financial support and literacy to change lives and lifestyles for the better.

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Contributor Brief·Meghaan Lurtz · 1 article
Updated Sep 7, 2023

Questions build client confidence better than expert answers in downturns

Lurtz argues that financial advisors should deploy guided questioning to activate client self-efficacy rather than rushing to prescriptive solutions during market stress. When clients feel overwhelmed, the advisor's role is to restore their sense of agency and decision-making power through structured dialogue, not just technical expertise.

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article provided limits depth of quantitative analysis

“Advisors can build confidence through thoughtful questioning rather than immediate solutions.”

With a Wallet-Tightening Economy, Financial Advisors Can Assuage Clients' Fears By Promoting Self-Efficacy

Advisor intervention approaches during client financial stress

Thoughtful questioning to activate self-efficacy8
Immediate prescriptive solutions3
Technical expertise delivery alone2

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62%Thoughtful questioning
Thoughtful questioning to activate self-efficacy
Immediate prescriptive solutions
Technical expertise delivery alone

psychological overwhelm

root cause of poor client decisions in downturns, not market complexity

Client confidence emerges from restored sense of agency and control.

With a Wallet-Tightening Economy, Financial Advisors Can Assuage Clients' Fears By Promoting Self-Efficacy

Wallet-tightening economies force advisors to shift from product sales to psychological support.

With a Wallet-Tightening Economy, Financial Advisors Can Assuage Clients' Fears By Promoting Self-Efficacy

“Questions, not answers, restore financial confidence when clients feel overwhelmed.”

Themes:Self-efficacy as competitive advantage in advisoryPsychological intervention over technical solutionsQuestioning methodology for client confidence building

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