Advisers must tackle client behavioural bias for good outcomes

Mitigating behavioural biases builds trust with clients

Jenna Brown
clock • 1 min read

Understanding behavioural biases can help advisers provide clients with more ethical, effective and actionable recommendations, delegates heard.

Speaking at the Professional Adviser Management Retreat yesterday (15 May), Capco managing principal Martha Ferez gave delegates an overview of behavioural science and how advisers can apply it to their work. Ferez said advisers that use behavioural science strategies in their interactions with clients would lead to better outcomes and help them build "stronger trust-based relationships". She told delegates: "Financial decisions are both emotional and rational. Most people grow up thinking financial decisions are purely related to spreadsheets and calculators. But it is emotional. ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

PFS CEO on a Formula racing-like representation problem

PFS CEO on a Formula racing-like representation problem

Does financial planning need its own F1 Academy?

Jen Frost
clock 05 September 2024 • 2 min read
Octopus Investments CEO: 'The industry remains untrustworthy'

Octopus Investments CEO: 'The industry remains untrustworthy'

Advice ‘needs to move away from un-relatable investment products’

Isabel Baxter
clock 05 September 2024 • 4 min read
Sussex-based IFA enters administration

Sussex-based IFA enters administration

Facet declared in default as Voscap are appointed as administrators

Sahar Nazir
clock 04 September 2024 • 1 min read