Inside Information Reviews DataPoints

Bob Veres, the renowned author and publisher of Inside Information, recently reviewed each test from DataPoints. Here are a few of the highlights from his review: Read what this titan of the financial planning community had to say about the behavioral assessment library from DataPoints. Download the review of DataPoints here. …
With the year almost in the rearview mirror, I wanted to share with you what you can expect from DataPoints in the new year. Our team is focused on providing our advisor clients tools to uncover client money mindset, personalize advice and guidance, and apply the psychology of financial planning. Focus: Identifying Client Money Mindset If you’re a small business owner like us, you know it is tempting to be all things to everyone. …
What Are Money Scripts? Money scripts are general beliefs about money that are often unconscious and learned during childhood or early adolescence. Money scripts tend to be passed down through generations. These money beliefs tend to be partial truths about money or those who have (or do not have) money. Money scripts are related to different financial outcomes. Money scripts are often measured in financial planning or coaching to understand how financial beliefs might …
Let’s Agree to Disagree Agreeableness is a personality trait that is often overlooked or misunderstood when managing our financial lives. The field of personality psychology generally recognizes five primary personality traits that are understood to form the basic foundation of individual personality (often referred to as “the Big Five” or “OCEAN model”). These include openness to experience, extroversion, conscientiousness, neuroticism, and agreeableness. Here we take a closer look at the last trait, agreeableness. We …
Our latest financial psychology term describes how we can sometimes fall prey to errors in decision-making about others. The American Psychological Association defines fundamental attribution error this way: the tendency to overestimate the degree to which an individual’s behavior is determined by his or her abiding personal characteristics, attitudes, or beliefs and, correspondingly, to minimize the influence of the surrounding situation on that behavior (e.g., financial or social pressures). Your neighbor who is still unemployed …

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