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Wealth Management

Bounded Rationality: The Realistic Choice

Making a sandwich is easy. Making a perfect sandwich? Not so much. Standard economics assumes people make rational, utility-maximizing, optimal choices. But, how can we...

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Wealth Management

6 Cognitive Biases in Behavioral Finance

When clients make undesirable financial or investment choices, it is often the result of biases and heuristics. Cognitive bias occurs when drawing incorrect conclusions, based...

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Wealth Management

The Reasons Behind Investor Behavior and Risk-Averse Clients

Investors tend to be reactive and risk averse when it comes to investing in stocks. And for good reason – when your money is on the line – you’re bound to feel like it’s a...

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Wealth Management

Two Decision Making Systems

The change in attitude between planning and reality is similar to what happens when you set an alarm clock. You decide the most reasonable time to wake up the night before....

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Insurance, Retirement, Wealth Management

The Life Insurance Agent as Financial Planner

There are two major trends occurring with the insurance and risk management aspects of financial planning. First, many traditional life insurance agents are becoming financial...

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Wealth Management

Benefits of Behavioral Investment Counseling and Evidence-based Investing

If you’ve been in the profession long enough, you’ve likely encountered some variation of the saying, “Diversification means always having to say you’re sorry.”

The crux of...

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Wealth Management

Goal-based Financial Planning: Funding The Right Investments At The Right Time

Planning for the future requires setting goals. Whether it’s preparing for college tuition payments for the next four years, saving for a second home in retirement, or...

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Wealth Management

3 Reasons to be Excited About WMCP®

When I joined The American College of Financial Services in June 2016, I took a long look at the portfolio of designation and degree programs we offered and realized something...

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Wealth Management

Simulations: The Future of Wealth Management Education

Why do big clients walk away, and what can advisors and their firms do to hold on to important high-net-worth clientele? The difference between keeping a big client and...

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