Secrets of Successful Advisors℠ with Ken Haman cover image

Secrets of Successful Advisors℠ with Ken Haman

Brain Hacks to Stop Sabotaging Your Practice

Mar 2, 2023
Exploring Dr. Daniel Kahneman's research on client decision-making process. System one and system two thinking in financial advising. Building a portfolio that addresses clients' need for action. Maximizing the client review process through effective communication. Navigating clients through financial news.
26:38

Podcast summary created with Snipd AI

Quick takeaways

  • Design portfolios that engage both impulsive and rational thinking to avoid self-sabotaging relationships.
  • Conduct client reviews that acknowledge and address both quick, reactive thinking and rational, language-based explanations for a more effective review process.

Deep dives

Building portfolios to appeal to system one and system two

One of the main ideas discussed in this podcast episode is the importance of building portfolios that appeal to both system one and system two thinking. The speaker explains that most financial advisors operate primarily in system two thinking, which is rational, logical, and deliberate. However, clients often operate in system one thinking, which is impulsive, reactive, and survival-oriented. The speaker suggests that advisors should design portfolios that are worth talking about and include active components that address the client's need for action. By doing so, advisors can better engage with clients and avoid self-sabotaging relationships.

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