I am a psychologist, professor, author and executive coach based in Winnipeg, Manitoba. My work is divided between direct client services, on the one hand, and consulting to business and financial services, on the other.

I bring an uncommon combination of expertise in neuroscience, financial psychology, mental health, and behaviour change to bear on a  wide range of personal and professional challenges. My coaching clients are successful women and men who want to excel in their professional and personal lives. Executives from technical fields such as engineering, finance and high tech work with me to become effective leaders who create successful, thriving workplaces. The bulk of my work is with emerging leaders, those people who have been identified as ‘high potentials’ to take over leadership positions.

As a family wealth consultant, I work with clients who want to have healthy financial attitudes and behaviours. Families reach out to me for help in dealing with sudden wealth, inter-generational wealth transfer, major life transitions such as retirement or re-marriage, and raising financially responsible children.

Financial professionals around the globe consult with me in order to address the whole spectrum of challenges their clients bring to them. These challenges include clients’ failure to act on recommendations, cognitive impairments and declining capacity, transition stress, and an array of family struggles.  Where appropriate, I provide direct services to the firm’s clients. I am a senior faculty member at the Financial Transitionist Institute, coaching experienced advisors on the neuropsychology of major life transitions.  I have 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.

My 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. I offer Mastermind Groups and in-house training for those who want to increase their expertise on the personal side of financial counsel.

I am frequently called upon by media to discuss the quirks of humans and their money. Here is a sampling:

What are the biggest worries of the wealthy?

No matter how high your net worth, wealth comes with its own set of issues. According to a study at Boston College’s Center for Wealth and Philanthropy, significant wealth brings with it worries about family, relationships, and even concerns about the wealth itself. The study, which surveyed more than 160 families, most of whom had $25 million or more, found that respondents:

  • Felt they lost the right to complain about anything because they didn’t want to sound ungrateful.
  • Worried that their children would grow up to be spoiled or to resent them for not leaving them a sufficient inheritance.
  • Noticed that outside relationships were affected by their wealth—many wondered if friends would still like them if they didn’t have that great vacation house or boat.
  • Were constantly asked for things like a loan or a charitable donation.
  • Still didn’t feel totally financially secure.

Addressing The 4 Biggest Worries of the Wealthy (2018).
Tiger 21 (website).

Read on…

Podcast with Courtney Vien about how accountants can improve their advice delivery (February 2019)

Courtney Vien interviews Dr. Somers for the Journal of Accountancy professional skills podcast.

In this podcast episode, you will learn:

  • The biggest mistake advisers make when giving advice.
  • Questions you can ask clients to determine whether they understand your advice and are ready to act on it.
  • How to help clients facing interference from family members.
  • What to do when clients are ambivalent toward your plan.
  • Why clients going through major life transitions struggle to follow advice.

Listen to it here.

Adviser 2.0 Interview (August 2018)

Robin Powell of UK-based site Adviser 2.0 about reinventing financial advice interviews Dr. Moria Somers. Read it here.

ThinkAdvisor interview with Dr. Moira Somers:

Do’s and Don’ts for Getting Clients to Follow Your Advice