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. ...

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