Status quo bias refers to the tendency to prefer maintaining the current state of things due to inherent laziness and fear of change. It stems from the instinctual desire to avoid the discomfort and uncertainty that come with change, making people inclined to stick with what is familiar and known.
Dr. Charles and Dr. Brad talk about the usefulness (and lack thereof) of behavioral finance as it relates to financial planning practice. They then dive into several of the biases and heuristics that they see as most relevant to a practitioner and how each can be applied in practice.