Dr. Moira Somers is a psychologist, family wealth consultant and executive coach. Her work is divided between direct client services, on the one hand, and consulting to family business offices and financial services, on the other. Although Canada is her home, her client base is international.
Individuals and families reach out to Moira for help in dealing with the surprising complexities ushered in by significant wealth, particularly when that wealth is being generated by family-owned businesses. She is an experienced thinking partner for people who want to examine and direct the ways in which family wealth is affecting one or more domains of life: work, friendships, family ties, and various aspects of identity and well-being. Common concerns include raising caring and responsible children, addressing issues of privilege and effective philanthropy, preparing for business and personal transitions, and dealing with wealth discrepancies in families and friendship circles.
Dr. Somers works closely with financial professionals who serve UHNW families. She helps family office team members address client-facing challenges such as non-adherence, cognitive impairment and addictions, transition stress, and an array of family struggles. Where appropriate, she also provides direct services to the firm’s clients. She has delivered keynote addresses to organizations such as the National Football Players’ Association, the Financial Planning Association, XYPN Conference, and a wide array of banking, insurance, and investment companies. She offers Mastermind Groups and in-house training for those who want to increase their expertise on the personal side of financial counsel.
Her book, Advice that Sticks: How to Give Financial Advice that People Will Follow, has become an international bestseller. It tackles, head-on, the problem of unimplemented financial advice. It has been adopted as an authoritative guidebook by such diverse groups as postsecondary institutions, private firms specializing in Ultra Hight Net Worth clients, and credit counselling agencies.
Dr. Somers is a faculty member at the Ultra High Net Worth Institute and at the Sudden Money Institute. She leads the Financial Psychology Special Interest Group for the American Psychological Association. She is a featured guest and writer for many financial advising / family office podcasts and publications.
Dr. Somers is frequently called upon by media to discuss the quirks of humans and their money. Here is a sampling:
