Kol Birke, CFP

Kol Birke, CFP®, is managing principal, corporate strategy and financial behavior specialist, at Commonwealth Financial Network®, member FINRA/SIPC, the nation's largest privately held Registered Investment Adviser–independent broker/dealer. 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

CRM System Best Practices for Financial Advisors

Connecting with Gen X: The Clients of Tomorrow

Is It Risk Tolerance or Risk Perception? And What Can You Do About It?

When Behavioral Biases Get in the Way of Clients' Financial Decision Making

How to Help Clients Manage and Eliminate Debt

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

Connecting with Gen X: The Clients of Tomorrow

Posted by Kol Birke, CFP

January 26, 2016 at 10:00 AM

Generation X (Gen X)—people born between 1965 and 1979—fall squarely between their baby-boomer parents and Generation Y (i.e., the millennials). In general, they exhibit qualities from each of these generations, and as a result, there is no all-encompassing magic solution for developing long-lasting client relationships with this group. Rather, it is critical to meet them where and how they want to be met, and it necessitates a new type of flexibility in your service offerings.

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Topics: Financial Planning

Is It Risk Tolerance or Risk Perception? And What Can You Do About It?

Posted by Kol Birke, CFP

November 19, 2014 at 1:30 PM

As the markets bounced around a bit this fall, you may have received an emotional call from an avowedly aggressive investor demanding to get out of the market or from a supposedly conservative investor demanding moves to compensate for losses after a rally.

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Topics: Behavioral Finance

When Behavioral Biases Get in the Way of Clients' Financial Decision Making

Posted by Kol Birke, CFP

November 18, 2014 at 10:00 AM

Back in 2011 and 2012, as we were picking up the pieces after the market crash, some of my colleagues at Commonwealth and I were busy writing articles and e-mails and talking with our advisors about how to keep behavioral biases from getting in the way of their clients' financial decision making.

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Topics: Behavioral Finance

How to Help Clients Manage and Eliminate Debt

Posted by Kol Birke, CFP

September 10, 2014 at 1:30 PM

Debt can be one element of a healthy financial plan. Carrying too much, however, can severely restrict one's ability to take advantage of certain financial opportunities. And the interest that accrues on any loan is money that's not available to be invested for other purposes.

When analyzing your clients' debt levels, you may find that some carry so much that it impedes reaching their goals. If this is the case, consider these strategies to help clients manage and eliminate debt.

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Topics: Behavioral Finance

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