Masters in Business · Wednesday, July 15, 2026
Dr. Jordan Grummitt advocates for financial advisors to adopt a 'biopsychosocial model,' similar to medical practice, to understand clients holistically. He stresses that effective financial advice begins with understanding a client's life goals, dreams, and important relationships, rather than focusing solely on numerical targets like net worth.
“As a doctor, we used to see people and we talked about the biopsychosocial model, the idea of not just seeing what's hurting a patient, but how they fit in their environment and their needs. And I think with the financial advisor it's actually very similar.”
“So when you walk into a financial advisor's office and you're trying to assess is this the right financial for you or not? You know, one of the first questions they should be asking you is tell me about your goals. What are your dreams.”
“It shouldn't be what is your goal net worth? It shouldn't be like, how many millions do you want to have by the age of fifty or fifty five, Because that's only one of many questions The bigger question is you know, what do you want to accomplish, what's important to you, Who are the important people in your life, and what are the must haves.”