Featured Speaker - Planning for Conflict in Client Relationships

This presentation is based upon two published papers: 1) “Building Financial Peace: A Conflict Resolution Framework for Money Arguments” by Sarah Asebedo in the Journal of Financial Therapy (2016), and 2) “Planning for Conflict in Client Relationships,” in the Journal of Financial Planning by Sarah Asebedo and Emily Purdon that received the 2018 FPA/JFP Best Research Award and was recognized in The Best of 2018 annual special issue of the Journal of Financial Planning. This presentation will demonstrate how conflict resolution techniques are applicable to financial planning practice and how these techniques can help clients set meaningful goals and increase the chance of successful plan implementation. All clients (single or coupled) operate in a complex social system where financial conflict has potential to arise with their spouse, parents, children, siblings, friends, and/or coworkers. Financial planners are not currently required to procure a conflict resolution skill set even though addressing and resolving financial conflict is a necessary part of financial planning practice. Essential communication skills for conflict resolution include developing empathy, reframing, reflective listening, and assertive messaging. These skills can help the financial planner navigate common client responses to financial conflict.