the big 5

It seems that fraud is always in the news, but how much fraud is happening that we don’t know about? How could someone even figure that out? Believe it or not, people have tried, and in this episode, Caleb and Greg discuss a recent attempt to quantify how pervasive fraud is in corporate America. 

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In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

• How pervasive is corporate fraud? [SpringerLink]
• Just How Common Is Corporate Fraud? [NYT]
• Sarbanes–Oxley Act [Wikipedia]
• Market Capitalization [Investopedia]

Mohanad Alwadiya, The Wolf of Real Estate, listed the top ten reasons why people lose out when it comes to real estate.

See omnystudio.com/listener for privacy information.

Tune in to hear:

- What role does positive psychology play in financial planning? More broadly, what is positive psychology and how is it differentiated from the popular conception of behavioral finance as the study of bias?

- What is the “three good things” intervention and why does it work? Is it applicable in a financial context as well?

- What do you do when someone attributes the best things in life to happenstance or luck? How can you potentially reorient this into something with a more internal locus of control?

- Why is money uniquely ripe for conflict and why are advisors well-positioned to help?

- What are the primary stages of financial conflict resolution?

- Is neuroticism the main personality trait, of the “Big 5,” that advisors would want to be aware of in their clients or do other personality traits play a big role in making sound investment decisions as well?

https://www.linkedin.com/in/sarahasebedophdcfp

Compliance Code: 1117-OAS-6/27/2022

James Mwenda, Founder of James Mwenda Expeditions, shares his expertise in sustainable safari adventures and provides some tips on how to make a safari more than just an Instagram photo opportunity. He shares how to be a responsible wildlife tourist and truly reconnect with the natural world.

Host: Host (Amy) Hager - Social Media Manager at The RISE Travel Institute 
Video and Audio Editing: Kara King
Graphic Design: Shirley Wong - Freelance Art Director

Music: On My Way by Kevin MacLeod
Link: https://incompetech.filmmusic.io/song
License: https://creativecommons.org/licenses

Tune in to hear:

- What are some of the primary drivers of asset flows from a behavioral perspective?

- Soft factors account for a lot more of clients’ decision-making process about their assets - what is the takeaway, for asset managers and financial advisors, from this revelation?

- What are the three different types of trust that Herman breaks down in his book?

- Interpersonal trust might be the most important pillar of trust, as well as being the most within an advisor’s sphere of control. What can one do to build and fortify this with our client base?

- What is the number one most trusted profession in both the US and nearly globally? Why might this be the case?

- Why are financial professionals rated so low on the Edelman Trust Barometer? Could they ever be trusted at the same level as those in a medical profession?

- What are the “Big 5” personality traits and how can they be applied to deepen the understanding between clients and advisors?

https://www.thetrustmandate.com

https://www.prospectabriefings.com

Compliance Code: 0919-OAS-5/24/2022

Tune in to hear:

- How does Dr. Cherry implement “The Big 5” personality test in his practice? Does he approach clients with different personality traits in novel ways to better help them problem solve?

- How were The Big 5 traits ultimately arrived upon?

- How might one shift communication with their client if the client displays high levels of anxiety? Should the actual asset allocation look different for them or is the anxiety simply approached in the coaching process?

- How can financial professional be authentic and transparent without making it totally about us and our story?

- How does Dr. Cherry use life and money stories to help elicit trauma and what does he do with this information once it’s revealed?

- What is “the stages of change” theory?

- What is a money trauma that a client might need to admit before moving forward?

- What’s the key difference between admitting you have a problem and acknowledging that?

https://www.concurrentfp.com/financial-planner-dr-preston-cherry

Compliance Code: 1938-OAS-6/30/2021

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In today's podcast, I discuss why working out or combat sports are important for masculine growth. Working out with weights has a range of benefits like increased confidence, positive feelings, increase masculine energy, cognitive function, and a range of other benefits. 

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