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The Three Drivers of Advisor Behavior

Through a psychological lens, advisors are better able to understand and empathize with their clients and anticipate the life changes and decisions they may face in the future. Advisors also need to take a look inward to better acknowledge and identify the impact of the same drivers of influence on their own judgment and choices. Why is this important?

Financial professionals are schooled in finance and believe that they follow a systematic, logical approach to their work. The nature of their work demands that people, coworkers and clients alike, place a lot of trust in them. A full roster of clients and excellent references are things that clients look for when choosing a financial advisor whom they will trust. However, there is one factor that ultimately determines how valuable a financial advisor will be and how long they will retain their clients’ business and trust: judgment.

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Post source : AdvisorPerspectives