79: Behavioral Finance Principles That Actually Improve Financial Behavior with Barry Ritholtz - podcast episode cover

79: Behavioral Finance Principles That Actually Improve Financial Behavior with Barry Ritholtz

Apr 12, 20231 hr 39 min
--:--
--:--
Listen in podcast apps:
Metacast
Spotify
Youtube
RSS

Episode description

As behavioral finance has moved into the mainstream, one thing has become clear. It's great to know there's a way to explain a client's sub-optimal behavior. But, it's an entirely different challenge to know what to do about it.  In other words, behavioral finance has done a great job of providing advisors with a list of diagnoses: Overconfidence, anchoring, Dunning-Kreuger Barry Ritholtz has been on the cutting edge of behavioral finance for years. In this episode, he peels back the curtain to share the specific ways that Ritholtz Wealth Management focuses on improving client behavior. We discuss: Why steer clear of market forecasts and focus instead on probabilities A question to ask clients who believe everything they hear on TV Effectively setting expectations in the midst of uncertainty How they minimize bias by naming their portfolios The "Milestone Rewards" program that discounts fees for optimal behavior To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here Resources: The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals Connect with Brendan Frazier:  RFG Advisory LinkedIn: Brendan Frazier X:@jbrendanfrazier
For the best experience, listen in Metacast app for iOS or Android
Open in Metacast
79: Behavioral Finance Principles That Actually Improve Financial Behavior with Barry Ritholtz | The Human Side of Money podcast - Listen or read transcript on Metacast