Investment Risks Rooted In Human Behavior
A statement I have been making to many people for the last 10 years is: “Investment markets cannot be controlled, but how you manage your reaction to them can be”. Generally, for most investors the reason that they obtain returns which are on average 6% lower than market returns is because of their behavior. Investors […]
Wealth Mentoring Your Clients….Managing Behavior
Hang on. Where is the market going to? Will the Dow be 5000 in the next few months by June 2009 or 22000 in 6 years? Who knows. They are interesting questions. I have placed my own personal wager on the markets reaching these levels in those time frames with some friends. I have often […]
Managing Your Clients Through Turbulent Times
Well the stock market has gone to 10 year lows. Has it hit the bottom? That is not necessarily the crucial issue although this downward spiral will be raising more fears. What is crucial is how you handle this situation in terms of your own behavior and managing that of your clients. If you read […]
Research Insights on Practice Behaviors
In February 2009 we completed cutting edge research on practice behaviors, giving a short survey to 100 leading financial advisors with practices having assets under management over $50 million. The overall conclusion would be that advisors could be doing more to use human behavioral insights as a foundation for building their practice in the future. […]
Finding Meaning In Your Life
For a few years now there has been an increasing trend toward people taking steps to find greater meaning in their life. Gradually, more and more people are having the courage to do it and not just talk about it. This may involve turning their back on what is a well paid job and years […]
Uncovering Human Behavior Risks
Generally in business, and particularly in financial services, people associate risk with the markets or economy. What we fail to drill down into are the risks caused by human behavior. Another way of looking at this is to consider how people handle the market risks. What decisions do they make? What solutions do they come […]
Dreams and Goals
Would you prefer to be asked about your dreams or your goals? Last week in one of our Wealth Mentor Community Calls we discussed this very question. Prior to the meeting, I had the Wealth Mentor participants read a book called the Dream Manager by Matthew Kelly. This book really brings out the connective power […]
Managing Risk
On the weekend, I had the great fortune to listen to a very inspiring presentation by Dr. Ben Carson. Dr. Carson is a leading pediatric neurosurgeon at the John Hopkins Hospital. In his career he has been a pioneer in performing highly risky surgery on children. He has a great book: “Take the Risk – […]
The Impact of Money on Your Family
What has been the impact of money on your family? This is a big question and one often addressed in a family meeting. Also, it is often asked by your financial advisor in the financial planning discussion. There will be both positive and negative impacts of money on a family. In many ways these impacts […]
