Helping Clients Avoid Biases
By: Roccy DeFrancesco, JD, CAPP, CMP
Let’s face it; if you are a financial planner and/or insurance agent, you are a salesman. You go forth into the world with the goal of picking up new clients and generating revenue. When trying to pick up new clients, you are dealing with people who have biases (we all have them).
There are the obvious biases: -I don’t like life insurance, -I don’t like annuities, -Etc…
Then there are not so obvious biases: –Loss Aversion Bias, –Confirmation Bias, –Recency Bias, -Etc…
How can you help clients overcome biases they may not even know they have and win them over as clients?
Simple, educate them! Once clients understand their own biases, it will open their eyes to the advice you may give them that runs counter to their built in biases.
3-Part Newsletter on Biases
To download my three separate newsletters helping clients understand investor biases, click on the following links:
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