Results for "behavioral finance"

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Behavioral finance can attract fee-based assets

November 8, 2017

Most independent firms agree that successful adviser practices in the future must become more effective in gathering fee-based advisory assets. But from there, industry views diverge. For some firms, it's solely about providing the latest technological...

Prepare clients for the terror of falling markets

October 30, 2017

It's witching season and while our costumed children invade our neighborhoods for candies and treats, almost no-one considers the "trick" part of the equation anymore. It's much the same way for investors today; it's been nothing but treats...

Financial therapy 'money scripts' can help you beat the robots

October 12, 2017

Why would someone pay a financial adviser to manage their assets when an automated system can do it for less money? To accomplish this, many advisers are beginning to explore the discipline of financial therapy, a relatively new practice combining...

Behavioral finance scholar Richard Thaler wins Nobel Prize in economics

October 9, 2017

University of Chicago's Richard H. Thaler, one of the founders of behavioral economics and finance, was awarded the 2017 Nobel Prize in Economics for shedding light on how human weaknesses such as a lack of rationality and self-control can ultimately...

Breaking Money Silence: Helping clients understand money taboos and talk more openly about finances

September 30, 2017

The following is an excerpt from "Breaking Money Silence: How to Shatter Money Taboos, Talk More Openly About Finances, and Live a Richer Life" by Kathleen Burns Kingsbury (Praeger, 2017). Ms. Kingsbury is a wealth psychology expert and founder...

BLIND SPOT: Expectations, Emotions, and Investor Behavior

September 5, 2017

The following is from IMCA's “Inside the Mind of the Client, Part 1” article compilation. Dig into behavioral finance in part 1 of this series of articles and discover how to help your clients make good investing decisions—and avoid the...

Understanding — and overcoming — your clients' behavioral biases

August 24, 2017

The following is an excerpt from a new white paper, “The road to retirement success”, which was co-developed by the InvestmentNews Content Strategy Studio and Great-West Financial®. To view download the full white paper, click here. Building...

Harnessing behavioral economics to reinvent employee education

August 22, 2017

Since the birth of the self-directed defined contribution plan, industry conferences have typically had speeches and panel discussions on how to motivate participants to make better decisions — or decisions at all. Typically, these sessions...

8 ways to enhance client meeting preparation to boost outcomes

August 18, 2017

Advisers who rethink the way they prepare for client meetings can use them as opportunities to generate new business opportunities and to strengthen relationships. Practice management experts John Anderson, managing director and head of practice...

5 non-money-related books to help you (and your children) live a better financial life

August 17, 2017

Last week I was enjoying a late summer dinner with my daughter. We ended up discussing the books that I thought she should read ? books that I think are interesting and have helped me the most in my life. She's a sophomore in college and really...

3 big ideas from the brightest minds in behavioral economics

June 21, 2017

In 1987, two professors at UC Berkeley, Daniel Kahneman, a psychologist, and George Akerlof, an economist, offered a joint class called Psychology and Economics for the first time. They each went on to win the Nobel Prize for Economics in consecutive...

Adviser's Consultant: Incorporating clients' risk scores into all planning decisions

June 8, 2017

David Yeske believes advisers can help clients make smarter financial decisions if they take the client's risk tolerance into consideration more often. Most advisers use a client's risk score to help decide how to invest their money, but it...

Cetera adding facial recognition software to help gauge clients' emotions

June 7, 2017

Cetera Financial Group is adding facial recognition software to its set of financial technology tools later this year in an effort help its 8,500 affiliated advisers learn more about what's most important to their clients. The goal is for advisers...

Summer reading suggestions from top members of the financial advice industry

May 25, 2017

It's that time of the year again! With summer's official start less than a month away, InvestmentNews has prepared a reading list for advisers comprised of recommendations from some of your top peers and experts. We asked for both professional...

What behavioral finance can teach us about markets — and ourselves

May 22, 2017

OMAR AGUILAR, PH.D. Senior Vice President and Chief Investment Officer, Equities and Multi-Asset Strategies, Charles Schwab Investment Management Behavioral finance — a body of work combining psychology, economics and other social sciences...

8 points financial advisers need to make with clients before the next correction

May 22, 2017

Preparing clients for a possible 10% to 20% correction in U.S. equity markets requires financial advisers walk the thin line between having clients understand the current risk without creating a sell frenzy. Here’s what proactive advisers...

How to handle clients who share Johnny Depp's alleged compulsive buying habits

May 11, 2017

Financial advisers who have dealt with clients like Johnny Depp, an alleged compulsive spender with $2 million in monthly bills, have found methods of reforming their clients' errant shopping. Details of Mr. Depp's $30,000 monthly wine bills...

Encourage financial literacy by speaking to clients' emotional priorities

April 26, 2017

Despite its crucial importance, financial literacy continues to be an intimidating topic — not just for savers across the age spectrum, but for professionals who are in a position to help address the problem of financial illiteracy across...

5 counseling steps to make better financial planning clients

April 24, 2017

Widely viewed as the softer side of financial planning, financial counseling is gaining traction as the latest adjunct to holistic advisory practices. Some firms are using counselors for referrals, while others are employing techniques to get...

Financial counseling adds new area of expertise to financial advice industry

April 21, 2017

Most financial advisers are well versed in areas like asset allocation, tax management and performance calculations, but tend to be less fluent when it comes to talking to clients about things like spending habits, budgeting and a general relationship...

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