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Consumer Confidence, Investor Psychology, and an Interesting Post: What We Were Reading and Watching This Week
Consumer Confidence, Investor Psychology, and an Interesting Post: What We Were Reading and Watching This Week
stantongwp.com
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Consumer Confidence, Investor Psychology, and an Interesting Post: What We Were Reading and Watching This Week
Consumer Confidence, Investor Psychology, and an Interesting Post: What We Were Reading and Watching This Week
stantongwp.com
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Futurist & Public Speaker 🎙 | Decoding the future of Generative AI 🚀 | Helping executives navigate innovation and trends | Author of “Ubertrends-How Trends And Innovation Are Transforming Our Future” 🎓 USF Professor
Those of you who have heard me speak know I often talk about the fallacy of most #research. This article will give you a lot more perspective.
What Is the Consumer Doing...? - The Big Picture
https://ritholtz.com
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Multigenerational wealth is a great conversation to have with your clients, especially with statistics like these.
Only 19% of Investors Work With Their Parents' Advisor: Cerulli | ThinkAdvisor
thinkadvisor.com
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Fast forward your client discovery process with tools that uncover how clients view saving, spending, and investing.
Client discovery tools that capture money mindset.
https://datapoints.com
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Understanding Financial decision making requires knowledge about both the practical and emotional parts of the brain if you are to support your customers and help Financial Advisers. Given we have been supporting many Financial Brands with their customer insights in relation to the FCA’s consumer duty requirements - I was recently interviewed about our how our expertise in psychology and behavioural science has been helping Insurers. Consumer decisions are complex. Consumer financial decisions even more so. If you’d like to know how we could support you do get in touch. Simon@weareib.co
The psychology of insurance
covermagazine.co.uk
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Unitifi® has worked with a team of behavior experts— psychologists, statisticians, and scientists— to develop a 99% accurate algorithm that provides insights related the behavior of each unique #investor and how they react when #financialrisk is applied. The initial analysis is a set of 20 questions, completed in 2-7 minutes, directed at the uncovering of any individual’s financial behavior tendencies, i.e., their automatic responses to investment risk, which determines their financial personality placement. Based on their unique #Unitifi Assessment results, the individual will fall within an exclusive Investor Type category, based on what the science determines is the role of their demonstrable decision-making patterns in regards to their finances. Within those associations are top-scoring behavior attributes found in user-friendly visual fields along with advising #recommendations. Take your business to the next level now by scheduling an assessment demo at www.Unitifi.com 📈💼
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Behavioural biases of financial planners The authors find that certain traits and background-specific characteristics of financial planners influences their willingness to engage in certain financial advice, rather than the objective value of the financial asset and strategy. Biases were found to influence financial planners’ decisions for income strategies. For instance, some planners found to exhibit loss aversion were more likely to recommend selling and downsizing investments. It might be wise for financial planners themselves to have a behavioural advisor to evaluate how their biases and emotions are influencing their work, similar to the requirement for psychotherapists to have a large number of psychoanalysis sessions themselves so they can learn to separate their own feelings from their patients’. The ability of financial advisors to ignore their own biases and focus only on what is best for their patients is equally important. Link to paper: https://lnkd.in/etJKTUJN
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Sharon Horne-Ellstrom: Challenger, Consultant, Author...How To SUPERSIZE YOUR BUSINESS w/o Working Yourself To Death...
Are You Using The Psychology Of Consumer Behavior To Supersize Your Business? Drop in here every day for a dose of different business building perspective: https://lnkd.in/e7vR9P9 #supersizeyourbusiness #supersizebusinesstopics #consumerbehaviorpsychology
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When no priming works best: Have you ever noticed how ubiquitous visual imagery featuring smiling families or successful individuals is in banks and on banking websites? 🏦 They are designed to induce trustworthiness and reliability but what influence such photos can have on our financial choices? In collaboration with Luc Meunier and Olga Tatarnikova, we conducted a study delving into this question. Through an experiment, we primed participants with various types of photos, each linked to different financial outcomes and emotions, ranging from short-term gains to lifetime goals. Then we asked market participation of the participants.📸 Here's what we uncovered: 1️⃣ Emotions are the key factor: Regardless of the specific content, photos evoking strong positive emotions had the most significant impact on increasing market participation. 📈 2️⃣ Financial literacy matters: We found that the effect of emotion was particularly pronounced among individuals with lower levels of financial literacy. 💡 3️⃣ The one-size-fits-all approach doesn't work: Failed emotional priming attempts can backfire, leading to unintended consequences. Our recommendation? When in doubt, opt for a neutral environment. 🛑 At Odonatech, our focus on empathetic understanding guides our mission to empower individuals to make informed choices about their finances. We leverage this understanding and apply it in our products #Odonaplace and #LiLa. You can check out our paper here: https://lnkd.in/e872nbP3 #OdonatechResearch #FinancialDecision #nudge
Stock Market Participation: When No Priming Works Best
tandfonline.com
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