Kol Birke, CFP

Kol Birke, CFP®, is senior vice president, technology strategy, and a financial behavior specialist at Commonwealth Financial Network®, member FINRA/SIPC, an independent broker/dealer–RIA. With the firm since 1999, Kol fosters technology innovation by working with individual departments to design and implement their most impactful ideas, and he helps advisors align their clients’ actions with their goals, including calming emotions, reconciling risk tolerances, and facilitating life transitions. Kol received a BA in economics from Brandeis University and a Master of Applied Positive Psychology degree from the University of Pennsylvania.

Information about securities-registered professionals may be found at FINRA BROKERCHECK.

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Recent Posts

Managing Your Clients’ Risk Perception

How to Help Your Clients Who Are Overspending in Retirement

How to Help Clients Avoid Self-Destructive Financial Behavior

Nature Vs. Nurture: Can You Change Your Clients’ Financial Behavior?

CRM System Best Practices for Financial Advisors

Managing Your Clients’ Risk Perception

Posted by Kol Birke, CFP

October 25, 2017 at 1:30 PM

When the market heads up or down precipitously, managing your clients’ risk perception is key. But to do so, you must first understand the difference between risk tolerance and risk perception.

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Topics: Behavioral Finance

How to Help Your Clients Who Are Overspending in Retirement

Posted by Kol Birke, CFP

November 2, 2016 at 1:30 PM

Clients overspend in retirement for a number of reasons. Maybe they can’t say no to their kids (who are financially irresponsible themselves). Maybe they want to enjoy their money before their health fails. Or maybe it’s just habit. Whatever the reason, how can you help your clients who are overspending in retirement—in a way that has a good shot at changing their ways? Luckily, for every bad financial behavior, there are techniques that can lead to positive change.

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Topics: Behavioral Finance

How to Help Clients Avoid Self-Destructive Financial Behavior

Posted by Kol Birke, CFP

June 15, 2016 at 1:30 PM

I’ve heard advisors ask, “Why does my client want to go to cash when his portfolio has lost only nominal money?” or “Why is my client blaming me for something she pushed for months ago?” Rather than trying to explain why their instincts are wrong, it can be more effective to instead just affirm their feelings and then redirect their energy.

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Topics: Behavioral Finance

Nature Vs. Nurture: Can You Change Your Clients’ Financial Behavior?

Posted by Kol Birke, CFP

June 14, 2016 at 10:00 AM

Research suggests that our DNA affects our spending and savings patterns. Does this mean it’s futile to try to change your clients’ financial behavior? Maybe not. While DNA can affect your clients’ decision making, it isn't the sole factor.

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Topics: Behavioral Finance

CRM System Best Practices for Financial Advisors

Posted by Kol Birke, CFP

March 15, 2016 at 10:00 AM

I’m an odd duck when it comes to technology. While I grew up in an age of technology dominance and make my living rolling out the latest and greatest tools for advisors, I also fundamentally believe, “If it ain’t broke, don’t fix it.”

So, how do I respond when advisors ask me if they should start using a new customer relationship management (CRM) system, or why they should leverage their current one? I tend to ask one thing: “What issues in the office are you trying to improve?”

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Topics: Technology

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