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The blog below is part of our 10th anniversary celebration at DataPoints. Firm Name: Journey Beyond Wealth Year Founded: 2017 Firm Focus: Comprehensive wealth management and investment management for high-net-worth families. Assessment used: Investor Profile RTQ How has your firm benefited from implementing assessments or other aspects of financial psychology? Assessments have helped us truly understand clients and how they view money. With the assessment results, we open up a new level of conversation …
The blog below is part of our 10th anniversary celebration at DataPoints. Firm Name: Radix Financial Year Founded: 2015 Firm Focus: Investment Management for global high-net-worth families Assessment used: Investor Profile RTQ How has your firm benefited from implementing assessments or other aspects of financial psychology? Using assessments allows us to intentionally pivot the focus of our meetings away from performance or benchmark conversations and toward goals and actions we can control. What’s the most significant …
Clients have various characteristics that influence their investment decisions. Many advisors understand that a significant part of the value of working with clients is helping them manage their mindset when it comes to investing. However, understanding investor psychology requires knowing what to measure. In the following text, we will examine several characteristics that can influence a client’s overall investor psychology, also known as behavioral risk tolerance. By measuring investor personality, advisors can identify which …
If you have watched a fintech product demo that includes anything remotely related to financial psychology, you might hear the word “personality” thrown around a lot. For example, I heard one very confident salesperson recently refer to his platform as measuring “investor personality” when the tech was measuring the client’s current feelings about investing. Personality characteristics predict a wide range of future outcomes regarding human behavior. The Big Five (or OCEAN) model of personality has been …
Independent of our unique individual personality traits, values, and attitudes, we know that financial decisions and behaviors have the most significant impact on achieving money goals. Carrie Rattle, CEO & Founder of Behavioral Cents, is a financial therapist and coach who works to engage clients in exploring their money beliefs with the ultimate goal of helping to optimize their financial behaviors. In the brief conversation below, we explore how Carrie uses behavioral assessments in …