Traditional economic theory tells us that humans are generally rational beings and that they make decisions from an optimal perspective. But behavioral economic theory takes into account what we know to be true: that humans are emotional and social beings. What is it, and how does it affect the mindsets of your clients?
We’re joined by Melaina Vinski, a Behavioral Economics Lead for PricewaterhouseCoopers in Canada, to discuss how the concept affects the investment decision-making process and how advisors can use a client’s biases to lead better conversations.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
68 Charitable giving: Wealth management strategies for the ultra high net worth
67 Live from IMPACT® 2018: A bond bear market? Bring it on!
66 More room to run: A market outlook from the BMO Global Investment Forum
65 Modern marketing: Writing a book
64 Health savings accounts: A strategic retirement tool?
63 How a high EQ can lead to sales success
62 To claim or not to claim? The Social Security question
61 Overcoming client objections
60 It’s all about the income: Insights from the BMO Credit Forum
59 Defining outcomes with factor-based investing
58 Behind the curtain: Securities lending in mutual funds
57 Escape the index: High-conviction investing
55 Modern marketing: From pro surfer to 401(k) YouTube personality
54 Money mindset: When clients go through cognitive decline
53 Leadership is learned: Leading your practice to better productivity and client engagement
52 Creating a lasting impact through financial education and mentorship
51 Money mindset: Advising millennials
50 MiFID II: European regulations with global implications
49 Money mindset: Suddenly single
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