Behavioral finance studies the psychology influencing people's financial behaviors. Believe it or not, behavioral finance has been around since the 1970s, though it seems to be getting all the buzz in recent years. It's a vital piece in guiding your clients' decision-making. You can't coach someone you don't understand, and you can't understand your clients without behavioral finance.
You may be wondering what other areas of your business have a behavioral segment. Can marketing be behavioral? The answer is yes, but its meaning is completely different from behavioral finance. Behavioral finance studies the psychology behind your behavior. Behavioral marketing, on the other hand, studies your behaviors, not the psychology behind them. Let's back up. Before we can explain behavioral marketing in detail, we need to have a firm grasp of marketing...read more here.
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