Connect * Empower * Impact


2019 AFCPE® Research and Training Symposium


AFCPE Pre-Symposium: Sunday, November 17 - Tuesday, November 19
AFCPE Symposium: Tuesday, November 19 - Thursday, November 21
Schedule Subject to Change

Friday, November 16th, 2018
Category: Financial Tools
Where did that Financial Behavior Come from? Genogram, a Tool that Works!
Here is a tried and true method that works. Everyone learns behaviors from their upbringing, families, and relationships. Backgrounds and experiences are unique, and when couples combine and raise children, new dynamics occur. This is true for all aspects of relationships to include behaviors, values, and biases related to finance. Genograms show social and family dynamics that link family members. This tool can be a non-threatening way to get clients to talk about their finances and family history. This collaborative tool used jointly by client and counselor not only will enlighten the client as to how their values and lifestyle came to be, and increase their self-awareness, but also will enhance the effectiveness of the working relationship. That A-HA moment is what we strive for as financial professionals. A genogram uses multiple learning styles and can paint the whole picture of family dynamics and its' role related to finance. This improves successful outcomes of the financial counseling or coaching work. Because a genogram captures a specific point in time, it can successfully be used once, or to realize measurable behavioral changes in multiple client meetings. Multiple financial topics can be covered with the use of the genogram including religion, biases, family history, patterns, pledges, values, dreams, communication, behaviors, hardships, addiction, and other financial influencers. The audience will experience using the tool and have an interactive activity in which they practice using the symbols and diagrams to complete a genogram. There will be examples of genograms used with a variety of client types and situations.
Questions or Implications for Researchers: Genograms are not typically taught outside of family systems theory in college. As we merge financial planning with counseling and coaching techniques, instructors in the field may find it helpful in giving their students another tool to utilize. Members of academia and those who develop research and studies can formulate a plan to find measurable outcomes and uses of the genogram tool specifically related to financial planning, counseling, and coaching. Development of a tool or app related to the financial aspects of the use of this tool could greatly benefit many in the financial profession.