Behavioural science and financial planning: Three key adviser tips

'People often act against their long-term best interests'

clock • 4 min read

Dan Kemp shares his top three tips drawn from behavioural science to help clients reach their goals. One of the key insights of behavioural science is that people are predictably irrational. That is, they often act against their long-term best interests to address an immediate need. This creates a particular challenge for advisers as financial planning tends to require clients to make good decisions in the present in order to reap the rewards in the future. This task is especially challenging when the capital markets are volatile as we all tend to respond poorly to nasty surprises....

To continue reading this article...

Join Professional Adviser

  • 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

Advisers want more support in accessing ESG investment data

Advisers want more support in accessing ESG investment data

Client demand for sustainable finance has risen as advisers demand support

Sahar Nazir
clock 25 May 2023 • 1 min read
Marriage guidance: Why a prenup should be part of wedding planning

Marriage guidance: Why a prenup should be part of wedding planning

Legal insight for advisers with clients heading down the aisle...

Andrew Watson
clock 25 May 2023 • 4 min read
AJ Bell platform AUM up 7% to £68.8bn as inflows rise by £2bn

AJ Bell platform AUM up 7% to £68.8bn as inflows rise by £2bn

Customer numbers up by 7% in the first half to 455,008

Sahar Nazir
clock 25 May 2023 • 1 min read