Cognitive and emotional biases are deviations from rationality. Almost all discussions of biases in financial planning focus on how to reduce or eliminate them; to be rational decision-makers. Despite these efforts, most people most of the time make biased decisions – even highly motivated, highly capable people like hedge fund managers and the leaders of large global corporations. Have we yet to discover the secret for eliminating bias? Dr. Matt J. Goren, CFP® argue this is the wrong question. Matt's belief is biases are byproducts of how our brains work and cannot be eliminated. Instead, financial planners can utilize biases to help our clients make better decisions.
Join Matt for an insightful presentation full of practical examples for leveraging biases to help clients make better financial decisions.
Here are three specific learning outcomes that participants can expect as a result of the presentation.
1. Define common cognitive and emotional biases.
2. Discuss recent research on the management of biases in the financial planning context
3. Describe opportunities to leverage client biases to help them make better financial
decisions.
*CE/CPE Eligible: 1 CE credit is available to subscribers with these designations: CFP, CLU, ChFC and RICP. CPA subscribers will earn 1 CPE credit.
Field of Study: Specialized Knowledge
Prerequisites: There are no prerequisites for this session.
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Internet Based
NASBA Approved
Financial Experts Network (Sponsor Id#: 145173) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
