Behavioural coaching can be a tough sell among perspective clients, delegates heard.
Speaking at the Morningstar Investment Conference yesterday (1 May), its global head of behavioural insights Ryan O. Murphy noted that existing commentary suggests that people seek out financial advisers to deal with particular issues such as retirement planning, a windfall, and increased income. Murphy said these focuses are specific and suggest a narrow "job to be done" mentality. "These are superficial answers that overlook the different sources of value from financial advice." "Behavioural coaching is a tough sell," he added. "Unfortunately, people do not see much value in beha...
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