I was introduced to Carrie Rattle, the creator of the website behavioralcents.com through a mutual friend, one of the great thought leaders in my profession, Kenneth Haman, Managing Director of the Advisor Institute at Alliance Bernstein.
During our first conversation, it was clear that Carrie’s mission was to help women become more comfortable and empowered in their financial lives. Through the use of behaviorally-based tools, Carrie created a unique assessment which helps women determine their financial “style.” While Assessment tools can be dry, Carrie brings her own spirit of fun by using female Greek Gods to represent unique female styles. Kind of like a portal into one’s financial personality through the eyes of Greek Goddesses. Carrie is passionate about helping women change their financial relationship with money. Carrie and I share the same mission.
I’m familiar with tools designed to measure and predict personality traits. DiSC, Myers Briggs, POP, Kolbe. Some are more useful than others. As far as I know, none of these tools focus exclusively on money behavior for women. So when Carrie invited me to have my female clients and friends use her tools, I naturally asked my wife and business partner, Iris Hershenson, to begin her own journey to greater money self awareness.
According to the report, Iris is most similar to Hera- Goddess of the Game. Here is how Carrie describes Hera.
Hera is an ancient goddess who has acquired much wisdom over the years. She was also married to Zeus, leader of the gods and goddesses, for a few thousand years. Hera is a queen among goddesses.
She is mature, all powerful, and considered the complete woman. In particular she is the goddess of marriage and nurturer of all women as they progress through life, including fertility, protecting children, and public life. Hera is quite often portrayed with a peacock, the symbol of beauty, luxury, immortality.
Here is Iris’s unique money snapshot.
From my perspective, I believe this snapshot was spot on for Iris. Iris sort of agrees. As you would expect, it’s not always easy to see our self the way others see us. So here are my observations.
Control & Cash Flow Management– Iris is totally focused on our business and family cash flow. She also is quite fond of hunting for bargains using sites such as Groupon, Travel zoo and Amazon local. This description is very accurate.
Long Term Planning/Thinking– Iris is very focused on being prepared for tomorrow. Her favorite saying is, “you never know what tomorrow will bring.”
Thorough Research– Iris loves to research prices. She will not buy without doing her due diligence. To Iris, this is her form of entertainment.
Openness to New Ideas– Iris is in the right industry. She jumps at opportunities to learn new financial strategies every chance she gets.
Historically, the financial profession as a whole has scored poor grades in their treatment of women. To make matters worse, many advisors are lousy listeners, a quality that is important, especially to women. Advisors lose as soon as they start blabbing on about an asset manager’s great performance. Women–and most likely men too–immediately tune out. The paradox, or as the media has labeled it, “the female financial paradox,” is that according to the Boston Consulting Group, women are a growing economic force and expected to add about $6 trillion in earned income globally over the next five years. Yet many women lag behind men when it comes to using those assets to plan and build long-term financial security.
It’s been said that people don’t care how much you know, until they know how much you care. The notion that the advisor has to flaunt how smart he is by rattling off financial factoids to impress his clients erodes the foundation for an impactful conversation. Carrie Rattle is making an important contribution , by putting helpful tools in the hands of financial advisors and women.
I will encourage my female clients and friends to invest the 15 minutes to discover which goddess they most resemble. The first step in making Sound Financial Decisions is to become aware of our relationship with money. This is important, because women have heard every financial perspective… except their own. Long live the Greek Goddes Hera.