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Financial Advisors under Scrutiny from the RoboPolice

Financial Advisors are already under the most intense scrutiny. Never have their every move, decision, interaction with clients been analyzed to this degree. And it’s going to get worse. Photo Cred: The Protection Booth Podcast   Regulatory authorities are now considering the use of artificial intelligence (AI) and machine learning tools to enforce regulatory compliance. […]

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Behavioralizing Advisors & Financial Planning

“Identifying each person’s financial personality regarding how that drives decision making, will reduce costly complaints.” Leon Morales, DNA Behavior International [The Institute for Innovation Development interview series invites innovation experts, innovative business leaders and emerging FinTech companies to talk to our readers about their latest innovation activities. The series seeks to learn from innovative business […]

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Solving The Dangerous Voids in Risk Profiling

No doubt, intense discussions surrounding risk tolerance and behavioral finance are on the rise. Michael Kitces, who writes the Nerds Eye View Blog, has written a very good summary on the state of play regarding risk tolerance questionnaires in his article: The Sorry State of Risk Profiling Questionnaires for Advisors. Michael articulates various risk factors […]

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Compliance Issues the DOJ Isn’t Telling You About

We make decisions in different ways – but most are driven by our natural biases. These biases can affect an Advisor’s ability to recommend the appropriate options for clients, setting them up for a potential compliance issue. Natural Behavioral Biases also can affect the client’s ability to understand and make rational decisions. Psychologists Daniel Kahneman, […]

Avoid Irrelevance- Reinvent Your Financial Practice

5 Tips To Managing Your Advisor’s Behavioral Bias

So what exactly is Behavior Bias? And can it be avoided? Yes, Behavioral Bias can be mitigated, it’s just a matter of developing Financial EQ through behavioral awareness. Good questions for Investors to ask and answer: Why do some Advisors repeatedly lose wealth and others accumulate it? Why, after developing investment goals, do some advisors […]