Behavioral finance is a fascinating area of study, but can be a bit daunting to incorporate into your advisory meetings. Thanks to the power of LinkedIn, I think I found a way for you to give it a try.
Prasad Ramani reached out this past week to tell me about his company’s new assessment called “My 3B Assessment Report(R).” After a brief call I decided to give the test a try. And I liked it!
My 3B(R) Assessment Report offered by SAPERE helps you identify clients’ behavioral strengths and blind spots within a few minutes. The goal of the assessment is to accelerate advisors client acquisition by concretely demonstrating their value to clients within minutes. The assessment also also offers a way to discuss behavioral finance in an interesting manner and can be useful with a client who easily gets defensive when discussing his blind spots.
My 3B Assessment Report(R) has three sections and one measures financial literacy. I liked that component as it helps an advisor understand where some of the gaps may be in knowledge for each client. My goal is to have my husband complete this assessment as well and send the reports to our financial advisors. Every little bit of information he has can help him help us plan for our future.
The assessment was created by Namika Sagara, Ph.D., a behavioral scientist with 15 years of experience in leading and managing behavioral science and decision-making research. Besides conducting rigorous academic research, she applies decades of proven academic insights to help her clients understand and guide irrational human behaviors. She currently holds a visiting position at Duke University. Her colleague, Prasad Ramani, CFA, FRM, CAIA, has over 16 years of experience in Quantitative Risk & Portfolio Management, Financial Modeling and IT Consulting.
To take the assessment, click here . Trust me you will enjoy it and learn something new about yourself in the process.
How do you communicate with your clients about their blind spots?(Click to Tweet)
Do you use behavioral science in your practice?