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Applying Behavioral Finance In Financial Planning

Topic

Psychology of Financial Planning

Program ID

250573

Hours

1

Format

Self-Study / Traditional course (50+minutes)

Complexity

Intermediate

Description

In this month's newsletter we look in depth at strategies for applying behavioral finance within a financial planning context, including the ways in which System 1 and System 2 decision making processes differ, the impact of saliency on decision making and behavior, behavioral patterns for following through on commitments, the impact of “herd” behavior in financial planning, and how the “End of History Illusion” affects financial planning!

Learning Objectives

LO #1: Identify the differences between System 1 and System 2 decision making processes and when they are used. - LO #2: Identify the impact of Saliency on decision making and behavior. - LO #3: Identify behavioral patterns of following through on commitments and breaking goals into smaller pieces. - LO #4: Identify the behavioral impact of “herd” or peer behavior in financial planning. - LO #5: Identify how the “End of History Illusion” affects financial planning.