125: The Politics of Negotiation - Simon Russell

Negotiating is part of our every day – from business deals to romantic relationships, we all need to be able to create outcomes that work well. Hopefully meeting our needs and those of others who we may work, transact, live and socialise with.

 

My guest today Simon Russell is the founder and Director of Behavioural Finance Australia (BFA). At BFA he provides specialist behavioural finance training & consulting. His services are designed to improve financial decision-making, communication, and engagement. He mostly works with fund managers, major super funds, financial advisers and other financial services professionals.

Simon is at the forefront of how behavioural finance research can be applied to improve financial decisions and outcomes. His own research has demonstrated the efficacy of a number of relatively simple psychological strategies – such as how changing the order that investment returns are presented can help investors make better long-term decisions, how ‘anchors’ can impact perceptions about the value of financial advice, and how category labels and graph axes can influence investment choices and risk perceptions.

Simon is the author of three books on behavioural finance: Behavioural Finance - A guide for financial advisers, Applying Behavioural Finance in Australia and Cyborg, and is currently writing his fourth: Behavioural Finance - A guide for listed equities teams. He is a regular speaker on behavioural finance and financial decision-making at industry and academic conferences.

Simon holds a Bachelor of Arts (Psychology) & Bachelor of Commerce (Finance) both from the University of Adelaide, Graduate Diploma in Applied Finance & Investments from the Securities Institute of Australia, Master of Applied Finance from Macquarie University, Diploma of Financial Planning from MLC Advice Education and a Graduate Certificate in Management from the Australian Institute of Management.

 

Hear from Simon on:

 

1. Why is negotiation so important and how can we get better at it?
2. What is the #1 mistake most organisations make when it comes to addressing deeply ingrained issues with the way their leaders negotiate and how do you go about remedying this?
3. Most businesses want action that generates higher returns, to lower risks, and winning as well as retaining more clients. However, when they are doing well enough with the status quo how do you advise they improve to future-proof their entities?
4. What is anchoring about – how does it work in action?
5. Has Covid and more widespread remote operating for most businesses changed what works best when it comes to negotiating? Explain with a case study or example, please.

 

To connect with Simon:

LinkedIn: (5) Simon Russell | LinkedIn

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