MSFP 591 Financial Psychology

The psychology of financial planning is the varied psychological concepts and principles embedded within the relationship between the financial planner and the client and also between the financial planner and the client individually. The first step is an advisor's ability to understand and identify bias, heuristics, and attitudes within themselves and their clients. The second step is being able to effectively navigate bias, heuristics, and client attitudes for better overall working relationships as well as progress toward client goals. This course prepares advisors to understand the impact of psychological factors on financial decision-making; it also provides varied examples of how to work with and through those psychological factors for improved decision-making and client-advisor relationships.