Becoming a Behavioral Wealth Advisor goes beyond reactive coaching. It means taking a proactive approach to wealth management designed to build confidence and minimize behavioral triggers and biases that can destroy wealth.
We at AthenaInvest offer our congratulations to Richard Thaler for the well-deserved Nobel recognition of his 40 years of pioneering Behavioral Economics research.
As volatility returns to normal levels and questions abound about the duration of the current bull market, many financial advisors are focused on client behavioral coaching, hoping to prevent panicky sell-off requests that can destroy long-term wealth.
Advisors integrating planning into their practices face new challenges. Of critical importance is the advisor’s ability to translate client needs into financial solutions and to communicate how those solutions meet their goals. Needs-based planning builds confidence in the advisor and helps clients avoid costly emotional decisions which can sabotage long-term results.