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Title

Emotions are Information  - Helping Clients Manage the Head and the Heart When Making Financial Decisions (Sarah Newcomb, Morningstar)

Event Description

Newcomb_Headshot.jpg
Dr. Sarah Newcomb
Director of Behavioral Science
Morningstar

Dr. Sarah Newcomb is a director of behavioral science at Morningstar where she works to incorporate the findings of academic research into tools that make people make better long-term financial decisions. Her work on the psychology of money management has earned mentions in the NYT, Wall Street Journal, Forbes, and other notable media outlets. She is a regular contributor to Morningstar, InvestmentNews, and Psychology Today, and author of Loaded: Money, Psychology, and How to Get Ahead Without Leaving Your Values Behind.


Advisors who ignore the emotional elements of major financial decisions leave valuable information on the table in an attempt to be perfectly rational. The problem with perfect rationality when giving financial advice is that it treats the problem as if money itself were the full measure of well-being when in fact the goal of financial planning is not to maximize dollars, but to maximize well-being. By understanding the full range of costs and benefits (both financial and emotional) that a client faces, an advisor can help clients properly weigh their emotional tradeoffs rather than ignoring them completely. This talk draws on research from economics and psychology to explain how advisors can help nudge clients toward a more balanced perspective when weighing the imagined costs and benefits of a major financial decision.


Event Type

Society; Featured

Education Topic

 

Start Time

4/28/2021 12:00 PM

End Time

4/28/2021 1:00 PM

City

ZOOM Webinar

State/Province

 

Event Country

 

Event Region

Americas

Location Info

 

Speaker

Sarah Newcomb

CE Credits

1.0

SER Credit

NA

Currency

USD

Member Price

 

Non-Member Price

 

Candidate Price

$0.00

Registration

 

All Day Event

 

Recurrence

 

Event Link

Register Here!

Event Link Leads To New Tab

Yes

Event Short Info

Join Sarah Newcomb, from Morningstar, for this virtual presentation about behavioral finance. Advisors who ignore the emotional elements of major financial decisions leave valuable information on the table in an attempt to be perfectly rational. The problem with perfect rationality when giving financial advice is that it treats the problem as if money itself were the full measure of well-being when in fact the goal of financial planning is not to maximize dollars, but to maximize well-being. By understanding the full range of costs and benefits (both financial and emotional) that a client faces, an advisor can help clients properly weigh their emotional tradeoffs rather than ignoring them completely. This talk draws on research from economics and psychology to explain how advisors can help nudge clients toward a more balanced perspective when weighing the imagined costs and benefits of a major financial decision.

Attachments

Content Type: MyCFA Custom Calendar
Created at 3/25/2021 6:59 PM by karina@amc-texas.com
Last modified at 4/20/2021 10:05 AM by karina@amc-texas.com