<<        of  3      >>
What can be more fulfilling for an advisor?
MasterMind's Financial Therapy series explores through a hypothetical case study, the case of an overanxious underachiever and how a financial therapist can go far beyond numbers to make a meaningful difference in the life of such an individual.

Forget risk profilers – understand money scripts first
At the heart of the disconnect between doing something relating to your money which you perhaps know deep down that you shouldn’t be doing, is your relationship with money. Financial therapists call it your “money script” – your basic attitude towards money

A new field of study that every advisor must imbibe
MasterMind – a joint initiative between Sundaram Mutual and Wealth Forum which aims to help you help your clients master their mind and thus get onto the path to successful investing – is now introducing a new series of content around the exciting field of study called Financial Therapy.

What can I do when my client changes the goalpost?
Differing performance expectations are often at the root of failed advisor-client relationships, especially when client expectations change with changing market conditions. How then should advisors tackle this issue?

How should Ranjit convince Mr. Mehra?
In psychology and behavioral economics, the endowment effect (also known as divestiture aversion and related to the mere ownership effect in social psychology]) is the hypothesis that people ascribe more value to things merely because they own them

3 potential solutions to Mr. A K Narayan’s challenge
A few months ago, we carried a very insightful interview with Mr. A K Narayan, President, IFA Galaxy, in our Equity Insights microsite, where he explained some of the challenges in practically implementing asset allocation decisions. MasterMind took up this challenge of trying to understand why investors tend to behave the way Mr. Narayan articulated so well, and then consider solutions to the challenge that he articulated.

How will you tell your client that he is being foolish?
When you see your client recklessly committing big money into risky punts after a couple of bets paid off very well, how will you tell him that he is being foolish - in a manner that will get the point across without bruising his ego?

Does “main hoon na” always work with your clients?
Given two scenarios – one where a person bets/invests money on the basis of pure chance, and the other where he bets/invests on the basis of someone’s recommendation, does the investor hesitate with one bet more than the other?

New insurance product: emotional insurance
Behavioural finance is now being productized – products and solutions are being created that help professional money managers as well as individual investors to steer clear of emotional impulses that often lead to inefficient investment decisions.

Best PAD : the new mantra for asset allocation
Your financial plan suggests an ideal asset allocation to achieve your client’s goals, while his risk profile throws up an asset allocation that is way too conservative to enable achievement of his goals. What do you do now? Go by the risk profile and jettison the plan? Or hard sell your plan and get your client to change his risk profile?

<<        of  3      >>