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Wealth Management

How Behavioral Finance Paves the Road to Happiness in Retirement

A well-respected financial advisor once shared his advice to clients who dreamed of buying a motorhome and traveling across America as soon as they retired.

“I’d tell them...

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Wealth Management

Behavioral Finance: What Everyone Needs to Know

Behavioral finance is a trending topic in the wealth management discussion. Understandably so––behavioral finance meshes psychology and economics to explain how investors make...

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Wealth Management

Behavioral Finance and Investment Planning

In 1998, scholars Daniel Read and Barbara van Leeuwen asked participants to select an apple or piece of chocolate prior to engaging in the experiment. After making their...

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Wealth Management

Benefits of Core Satellite Investing

Watching and reading the news can become a habitual activity when you’re an investor, especially when there’s trading news that is applicable to your investments. And if the...

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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

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

When heuristics go wrong in decision-making

In a previous post, we discussed the stark contrast between the traditional economic rationale and bounded rationality. With bounded rationality, consumers can make an optimal...

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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

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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