Results for "behavioral finance"

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The value of real financial advice

August 29, 2016

Five years ago, I was taking care of clients and writing the Sketch Guy column at the New York Times. My family and I were settling into our new home in Park City, Utah. Things were good. Then, I got what you might call an "interesting proposition."...

Advisers should help millennials understand hazards of tapping 401(k) savings

August 26, 2016

Financial advisers with millennial clients should be on alert that the nation's youngest adults are most inclined to tap their retirement savings for other priorities. About 12% of people ages 18 to 34 have pulled money out of their 401(k) accounts...

Morningstar demystifies 401(k) loans

August 19, 2016

Morningstar's Christine Benz cracks to code on those perplexing 401(k) loans. Dissecting the pros, cons and myths of borrowing from a retirement account. The Department of Justice moves to phase out the use of private prisons for federal inmates....

Give yourself permission to see financial advice as creative

August 17, 2016

Imagine for a minute that your website has a tab labeled "work" or "portfolio." What would you find under that tab? For most of the real financial advisers I know, they'd find their clients. They'd see thousands of images capturing all the great...

New research suggests banning investment advice in the media

August 16, 2016

Many financial planners have long advised their clients to pay less attention to the media to avoid making investment mistakes, and new academic research is backing their counsel. In fact, the study goes further to say it may be a good idea...

Address the polarizing presidential election head-on with clients

August 8, 2016

Advisers should be talking about the U.S. presidential election with clients to make sure they aren't becoming overly fearful or too paralyzed by the uncertainty to make wise financial decisions. In the final months leading up to the Nov. 8...

When it comes to asset management, look for experience

August 3, 2016

In the midst of this heated and unorthodox presidential election year, the issue of experience is front and center. But, it turns out, experience is also a factor that should be considered when it comes to financial advice and asset management....

This is what will ensure your long-term success as an adviser

August 1, 2016

You're probably familiar with the phrase, "People don't care how much you know until they know how much you care." It may seem trite and overused, but as a real financial adviser, it defines much of what we should be doing. All signs point to...

Strategies for dealing with irrational clients

July 26, 2016

Financial advisers can use strategies based on behavioral finance research to better handle difficult clients, sometimes even adjusting portfolios to tamp down irrational behavior. A client who may be having a problem sticking to the investment...

Real financial advisers should always have an opinion

July 21, 2016

I'm about to share something a little shocking. Here it comes. I think real financial advisers should have an opinion. I get so frustrated when I hear that an adviser-client conversation offered a rundown of all available options. Sort of like,...

As stock market soars, financial advisers batten down the hatches

July 11, 2016

As the S&P 500 Index notched another record high shortly after the stock market opened for trading Monday, financial advisers were doubling down on calls to proceed with caution. The index, which is up 5.5% from the start of the year, stands...

Lessons from a week of highs and severe lows with clients

July 1, 2016

Client reactions this week to the volatility sparked by last Friday's Brexit vote offer advisers a glimpse into how investors may behave during a more sustained period of market decline in the future. One lesson is clear: Advisers need a plan...

Do this before you apply the science of investing

June 27, 2016

I've traveled all over the world in the last seven years, and I've run a mini experiment along the way. I ask people what word they would use to describe their feelings about money. The most common response I hear is akin to anxious. You could...

Advisers need to get real with clients about what reasonable investment returns look like

June 26, 2016

Hope and confidence are good attributes to have, especially when one is young — but there is such a thing as wild optimism. A recent survey by the British asset management company Schroders, which has $467 billion in assets under management,...

Financial advisers reach out to clients as stocks plunge in Brexit wake

June 24, 2016

Financial advisers pressed the 'keep calm and carry on' message to clients Friday as the global markets reacted wildly to the United Kingdom's surprising vote to leave the European Union after 43 years. “We are explaining to clients that we...

What really happens when wealth is transferred

June 21, 2016

Every year, trillions of dollars are passed on to beneficiaries. In many cases, the breadwinner has already worked through every detail of their estate plan with their financial adviser, CPA and attorney to make sure everything has been set...

Feeling financially secure isn't tied to a number on a bank statement

June 14, 2016

After years of working with clients, I've come to realize that if you're an insecure person, no amount of money will make you feel more secure. What do I mean by that? I know many people who have more than enough money in the bank, but they're...

Pull clients back from obsessing over the markets

May 31, 2016

I'm about to ask you a really personal question. At certain moments, do you cringe when you hear a client on the phone? Oh, I don't mean that you dislike your clients or your work. But you've been paying attention to the headlines, and you know...

Help clients turn off the financial news spigot

May 16, 2016

Over the last few years, I've spent a lot of time traveling and talking to people. During that time, I've been running a mini experiment, and it's based on a simple question: When was the last time you read some financial news that you acted...

Women, money and investing

May 15, 2016

InvestmentNews partnered with Kiplinger's to ask women about their experiences at different life stages with investing and financial advisers. Here are some of the results. Gender Their adviser's gender Female Male Breadwinners Widows Source:...

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