What is a Certified Financial Transitionist®- and How Can Your Clients Benefit from Using One?

When an individual suddenly receives a large sum of money, it can be overwhelming. Even if the influx of money is the result of positive circumstances, many find it difficult to determine the best course of action for managing the funds. Traditional financial advisors may be missing out on a key aspect of this process of financial transition—human emotion. That’s where a Certified Financial Transitionist® (CeFT®) comes in.

Financial Transition- It’s More Than Just Numbers

Almost everyone experiences a financial transition at some point in their lives. The typical approach is to only look at the numbers. Unfortunately, if only the numbers mattered, we likely wouldn’t hear so many stories about individuals who receive large windfalls, only to go broke within a few years. As human beings, we are wired to make emotional decisions, and those decisions can negatively (or positively) affect the way that we handle money.

For instance, a lottery winner may experience the excitement of being able to purchase large-ticket items for the first time in their life. A mother of two who has just received a wrongful death settlement after the loss of her husband may find herself trying to numb the pain by spending money. A young adult who has just received an inheritance may find themselves putting money into risky investments. Anyone’s judgment can easily become clouded when a sudden influx of money is involved.

Who Should Contact a CeFT®?

A CeFT® has developed expertise in areas such as financial education, wealth orientation, managing a personal windfall, and reinvention as the result of a sudden increase in personal or family wealth. Individuals who have earned this designation are armed with extensive training on handling both the technical and the personal issues associated that clients face during financial transitions.

Here are several instances in which an individual may want to contact a CeFT®:

• An injury settlement
• A divorce settlement
• Winning the lottery
• Receiving an inheritance
• Being awarded a cash prize
• Successfully selling a business

Combining the CeFT® with Settlement Planning

Traci Kaas, Managing Partner of Traci Kaas, uses her CeFT® designation as an added tool for working with injured claimants and their families. By integrating her knowledge of the emotional aspect of financial settlements with her expertise in comprehensive settlement services, Traci has helped a multitude of clients navigate their own financial transitions.

For more information, contact Traci Kaas, CeFT® today at 800-354-2258 or info@tracikaas.com.

Photo credit: Sudden Money Institute