Nature Vs. Nurture: Can You Change Your Clients’ Financial Behavior?

Posted by Kol Birke, CFP

June 14, 2016 at 10:00 AM

Research suggests that our DNA affects our spending and savings patterns. Does this mean it’s futile to try to change your clients’ financial behavior? Maybe not. While DNA can affect your clients’ decision making, it isn't the sole factor.

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Topics: Behavioral Finance

Women and Wealth: Insight into Female Clients' Decision-Making Process

Posted by Meagan Rogers, CFA, CFP

August 4, 2015 at 10:00 AM

The topic of women and wealth is one that is increasingly gaining global attention among a variety of audiences, and rightly so. Over the past 50 years, the role of women in industry, the economy, and the global wealth landscape has evolved dramatically. And as with other historically underserved—and occasionally misunderstood—market segments, women represent a key growth opportunity for the financial services industry. To be sure, the industry's ability to adapt and evolve to better serve the unique needs of women will likely determine the trajectory of growth.

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Topics: Behavioral Finance

Is It Risk Tolerance or Risk Perception? And What Can You Do About It?

Posted by Kol Birke, CFP

November 19, 2014 at 1:30 PM

As the markets bounced around a bit this fall, you may have received an emotional call from an avowedly aggressive investor demanding to get out of the market or from a supposedly conservative investor demanding moves to compensate for losses after a rally.

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Topics: Behavioral Finance

When Behavioral Biases Get in the Way of Clients' Financial Decision Making

Posted by Kol Birke, CFP

November 18, 2014 at 10:00 AM

Back in 2011 and 2012, as we were picking up the pieces after the market crash, some of my colleagues at Commonwealth and I were busy writing articles and e-mails and talking with our advisors about how to keep behavioral biases from getting in the way of their clients' financial decision making.

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Topics: Behavioral Finance

How to Help Clients Manage and Eliminate Debt

Posted by Kol Birke, CFP

September 10, 2014 at 1:30 PM

Debt can be one element of a healthy financial plan. Carrying too much, however, can severely restrict one's ability to take advantage of certain financial opportunities. And the interest that accrues on any loan is money that's not available to be invested for other purposes.

When analyzing your clients' debt levels, you may find that some carry so much that it impedes reaching their goals. If this is the case, consider these strategies to help clients manage and eliminate debt.

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Topics: Behavioral Finance

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