How Behavioral Finance Transforms Wealth Management

How Behavioral Finance Transforms Wealth Management with Dr. Daniel Crosby

Episode 013: In this week’s episode of Milemarker’s Connected Podcast, I talk with Dr. Daniel Crosby, Chief Behavioral Officer at Orion Advisor Solutions. We talk about the increasing importance of behavioral finance in the wealth management industry.

A psychologist and behavioral finance expert who helps organizations understand the intersection of mind and markets, Dr. Crosby shares his insights on adopting behavioral finance by advisors and the value it adds to their practices.

Here are a few key takeaways from this week’s ep:

1. Behavioral finance is gaining momentum in the wealth management industry, but adoption has been uneven.

2. Research shows that advisors who incorporate behavioral finance practices have higher wallet share capture from clients.

3. Behavioral coaching is an essential value-add for advisors, even though clients may not explicitly recognize its importance.

4. Technology excels at speed and precision, but behavioral finance requires human connection and empathy.

5. Every city has unique and worthwhile aspects, and finding someone who loves their city can help you discover its best parts.

The episode is available now on your favorite podcast platform:

• Spotify

• Apple Podcasts

• Youtube

• Google Podcasts

While there, please don’t forget to Download, Like, and Subscribe.

If you’d like to schedule a time to talk with me about anything we cover on our podcast or Milemarker, click here to grab 15 minutes.

Kyle Van Pelt