This chapter explores the concept of social comparison and its impact on our attitudes towards money. It discusses the role of social media in amplifying feelings of lack and envy, and examines how financial advisors can address client concerns about comparing their investment returns to others.
Dr. Charles and Dr. Brad open the show talking about FOMO and how it can impact a client's risk profile as well as their communication with their advisor. They then talk about ways that advisors can plan for and respond to FOMO both during and in the beginning of the client-planner relationship.