Ask any financial advisor if behavioral finance plays an important role in delivering ideal outcomes to clients, and you'll get a resounding "Yes."
Ask those same advisors if they know exactly what to say and do to seamlessly apply behavioral finance, and you'll get a resounding "No!"
Knowing someone is suffering from loss-aversion helps explain why he or she behaved a certain way. But the effective application of behavioral finance tells you what to do about it. That's where change occurs.
Jay Mooreland, founder of the Behavioral Finance Network, has been helping advisors apply behavioral finance in their practice for the better part of a decade (even before "behavioral finance" was cool!).
In this episode, we discuss:
*For anyone interested in joining The Behavioral Finance Network, Jay is offering a $75/month discount on his memberships for our listeners. Go to the membership page, and apply the coupon code "HSOM" at checkout.
For more information and resources discussed in this episode, visit: www.wiredplanning.com/episode22
To join a community of like-minded advisors and planners around the world looking for top-notch insights and information on how to leverage behavior, psychology, communication, and emotion to master the human side of money, visit Wired Planning.
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