What Your Financial Adviser Needs to Know About Your Brain
Behavioral economist Richard Thaler explains why financial professionals need to be familiar with psychology. Daniel Kahneman and Amos Tversky legitimized behavioral economics—the study of how people really behave around money, as opposed to how economists say a rational person ought...
A Simple Tool for Getting Better Financial Advice
If a financial adviser doesn’t know what’s going on in a client’s life, the advice will suffer. Here’s one easy way to fix that. True story: Many years ago, I was meeting with a married couple for an initial data-gathering...
The Wonderful Thing That Happens When a Financial Adviser Tells You the Truth
A tale of youthful stupidity holds the key to giving honest, genuine financial advice. The most important event in my life is one of which I was long ashamed. I was an 18-year-old punk with a monumental chip on my...
3 Questions That Will Put Your Finances — and Life — on the Right Track
Financial planning guru George Kinder has a powerful tool for helping people set priorities for their money…and their lives. Here it is. Few things seem more diametrically opposed than managing money and spiritual enlightenment. But not everyone sees it that...
Dealing With the ‘Personal’ in Personal Finance
To really help people, financial planners have to delve into the the feelings and emotions that drive their clients’ financial decisions. One planner explains why that’s so hard. While most of us financial advisers want to do the best for...
People Ignore 80% of What Their Adviser Tells Them. Here’s Why.
I’ve heard it estimated that out of all the financial and estate planning recommendations that advisers make, their clients ignore more than 80% of them. If there’s even a shred of truth in this stat, it represents a monumental failure...
