Using behavioral biases to help rather than hinder clients

08/25/2014 | Financial-Planning.com

Advisers can use clients' habitual patterns to their advantage by creating saving and investing policies that account for clients' biases. A good policy should be clear but flexible and create a strategy based on percentages and other targets to encourage clients to make the right choices. Planners should assess clients' risk histories and tolerance and adjust client budgets to match.

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