Advisor–Client Relationships Are Stronger When Goals Come First

Advisor–Client Relationships Are Stronger When Goals Come First

From Simple, but Not Easy by Morningstar

September 11, 2025 · 37 min · Episode 125

About this episode

This episode explores how financial advisors can prioritize client goals to enhance relationships and investment outcomes.

In this episode of Simple But Not Easy, we’re joined by Ryan Murphy, Morningstar’s Global Head of Behavioral Insights, to explore how financial advisors can help clients set better goals, avoid costly mistakes, and build lasting trust. We discuss why goals—not asset allocation or stock selection—should be the true starting point of an investment journey, and how a simple multi-step framework can uncover what really motivates clients. Ryan also shares insights from Morningstar’s Mind the Gap study, which shows how investor behavior often drags down returns, and explains how advisors can reframe conversations from performance to progress. If you want to better understand what drives investor decisions and how advisors can make the biggest difference, this episode is for you. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

People in this episode

Host: Morningstar

Guest: Ryan Murphy

Topics covered

  • advisor-client relationships
  • goal setting
  • investor behavior
  • trust building
  • financial advice

Keywords

  • financial advisors
  • investment goals
  • behavioral insights
  • trust
  • Mind the Gap study

Mentioned in this episode

Organizations: Morningstar, Simplecast, AdsWizz

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