{"id":18181,"date":"2019-12-28T00:00:00","date_gmt":"2019-12-28T00:00:00","guid":{"rendered":"https:\/\/www.bbs.unibo.it\/behavioral-finance-new-wealth-advice\/"},"modified":"2020-02-28T14:25:13","modified_gmt":"2020-02-28T14:25:13","slug":"behavioral-finance-new-wealth-advice","status":"publish","type":"post","link":"https:\/\/www.bbs.unibo.it\/en\/behavioral-finance-new-wealth-advice\/","title":{"rendered":"Behavioral finance: new wealth advice"},"content":{"rendered":"

One of the essential components of\u00a0 Wealth Management<\/strong> is behavioral finance,\u00a0<\/strong>the study of how individual and interpersonal psychological factors affect the movements of global financial markets.<\/p>\n

“The task of the consultant is to mitigate the so-called behavioral bias of individuals”<\/em>, says Massimiliano Marzo<\/strong>, Scientific Director of the Master in Wealth Management<\/a> at Bologna Business School.<\/p>\n

The term “behavioral bias”<\/strong> means the investor’s instinctive reactions to unexpected market changes. An example of behavioral bias is the “disposition effect”<\/strong>, that is the inclination to buy the securities at their highest price level and to sell them at their minimum, which is the opposite of what a reasonable investor should do.<\/p>\n

This happens, explains Professor Marzo<\/strong>, because the individual is moved by the emotional conditioning of regret<\/em>, an irrational attitude for which one tries to remedy immediate choices perceived as wrong instead of waiting for changes in external conditions.<\/p>\n

“Through behavioral finance the consultant reduces, and in some cases totally cancels, the negative effects of the decisions taken by individuals,”<\/em> explains Professor March.<\/p>\n

There are three points to consider when talking about behavioral finance: market inefficiencies<\/strong>, heuristics<\/strong>, a decision based on past experiences, and the framework<\/strong>, that is to say an investment choice made on the basis of how the same it has been presented.<\/p>\n

The Wealth Management Specialist<\/strong> must therefore have an ad hoc training that allows it to prevent irrational user decisions to better manage their savings and invest them in a safe and profitable way.<\/p>\n

A further fundamental element is given by the relationship of trust that is established between consultant and client.<\/p>\n

Bologna Business School through the Master in Wealth Management<\/a> provides young graduates with the appropriate skills to enter the world of asset consulting, providing the technical tools but also the soft skills necessary to create a stable relationship of trust between client and consultant.<\/p>\n","protected":false},"excerpt":{"rendered":"

One of the essential components of\u00a0 Wealth Management is behavioral finance,\u00a0the study of how individual and interpersonal psychological factors affect the movements of global financial markets.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[92],"tags":[],"rubrica":[],"class_list":["post-18181","post","type-post","status-publish","format-standard","hentry","category-news-en"],"acf":[],"yoast_head":"\nBehavioral finance: new wealth advice | BBS<\/title>\n<meta name=\"description\" content=\"One of the essential components of Wealth Management is behavioral finance, the study of how individual and interpersonal psychological factors affect the movements of global financial markets.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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