Client decisions around investment 'surprise' wealth managers often

According to a survey of wealth managers in the UK, France, Italy, Spain, and Ireland managing €328bn (£283bn) in assets, around seven in ten (68%) admit that they are surprised by the decisions their clients make.  This is despite the research from the behavioural finance expert also showing that 80% of wealth managers surveyed claim that they have a very good understanding of their clients' psychological profiles when it comes to investments. Nearly two-thirds (62%) of respondents believe emotional decision-making costs the average investor over 100 basis points of investable wealth...