The Challenge of Empathy
Daniel Crosby, Ph.D.
Chief Behavioral Officer at Orion Advisor Solutions - Behavioral Finance expert - Psychologist - Author of "The Soul of Wealth"
Empathy is often mentioned but rarely fully understood. Unlike sympathy, which implies a hierarchical relationship (e.g., "I pity you from a place of relative advantage"), empathy requires equal footing. To be empathetic means to feel what another person feels and see the world from their perspective. Groups with opposing viewpoints may express pity for one another but rarely operate from a place of true empathy.
?Empathy is hard to achieve because it disrupts cognitive simplicity. Firm, black-and-white opinions simplify the world into easily understood categories with clear rules: this idea is good, that idea is bad; these people are right, those people are wrong. Empathy complicates this simplicity by highlighting the reasons behind others' actions and beliefs, making it difficult to maintain absolutist views.
?Understanding others' perspectives forces us to think more deeply and acknowledge the complexity of human behavior. This process is more labor-intensive but leads to a more balanced and thoughtful way of living. Embracing empathy allows us to move beyond simple judgments and appreciate the nuanced realities of different experiences and viewpoints. In doing so, we create a more compassionate and connected world, where decisions are informed by understanding rather than prejudice.
If you're interested in reading more about money, mind, and meaning, I'd be honored if you'd check out my book, The Soul of Wealth - https://www.amazon.com/Soul-Wealth-reflections-money-meaning/dp/1804090441/ref=sr_1_1?crid=39CXS6BUOL6S&dib=eyJ2IjoiMSJ9.xWFfh4-LAoMtihn4Yzd_18YB5TyYBJKLlACSrrefdDJ_VM-S5HBfcj7Y_O6qszv2awQTxRs4VF3vgWzzoEpwaDGghSba9hspFO5ZXg8_8qpICCZ0pNydgDTIKz440BSzHwYA4wAG_Pzay8CTXOXT3eulSczciOt_yE6M6vWvlgpgk_Zfnkch2-dAlLCL4Z6HeBHkj4bEEmeRE2khT1_mHKVBiV-WwHI63vehCdQteFU.KzFV8_l0UxpXkHszkMU8Uwz81C8_kcePd1Yaq5R_RPg&dib_tag=se&keywords=soul+of+wealth&qid=1712947445&s=books&sprefix=soul+of+wealth%2Cstripbooks%2C109&sr=1-1
If you're a financial advisor interested in learning more about the human side of advice, please check out our free CE through the Orion Advisor Academy - https://orion.com/orion-advisor-academy
Co-Founder & President at PROFi - The Professional Financial Company
9 个月I got an early copy of the book from my good friend CJ Harrison, CFP?, AIF?. I'm going to dig in this month.... Empathy seems easier to offer when you're only a 3rd party to another's story. Providing an empathetic response when YOU are the friction in the story is a whole different matter. We tend to explain our "reasons why" before the other party has finished sharing their emotions. Skilled empathetic responses or the lack thereof can reveal the emotional disposition of your heart. When you are the subject of another's emotional pain, then put on a lab coat and scientifically observe the interaction. Listen first from a place of vulnerability which is a deeper form of transparency plus openness to the responsibility for causing pain. When you listen fiercely to another's story with curiosity to understand their feelings without defending, then you may find that empathy finds it's way more easily into the conversation. Empathy is a golden skill in the financial profession. Thoughts? PS - I read this to my wife and she said, "Do you mind if we print that and keep it handy...?" ?? I'm working on it babe. ??
Divorce Strategy Expert | Founder, Ever After Wealth? | Strategic Divorce Planning to Protect Wealth, Assets, and the Future of Business Owners, Doctors & High Achievers.
9 个月"Embracing empathy allows us to move beyond simple judgments and appreciate the nuanced realities of different experiences and viewpoints." This is so true and particularly important specially in the work I do with my clients. They are not only guided by their own realities and believes but also the strong emotions araising from such difficult life transition as divorce. Thank you for sharing Daniel Crosby, Ph.D. . Looking forward to your book.
Financial Consultant | Private Market Rep | Podcast Host
9 个月"Empathy requires equal footing. To be empathetic means to feel what another person feels and see the world from their perspective" Well said, thanks for sharing!
Helping people achieve financial freedom | CEO of Lake Avenue Financial | Founder of Futurvest
9 个月"Embracing empathy allows us to move beyond simple judgments and appreciate the nuanced realities of different experiences and viewpoints." The world would be a better place if more of us adopted this. Thanks for sharing Daniel Crosby, Ph.D.!
SVP, Chief Compliance Officer, Investment Advisory
9 个月All very good points. Empathy helps advisors foster connections with their clients, which is a must. Book preordered and added to my fall reading list.