Financial Psychology: An Overview

How does psychology play into the way we save, spend, and invest? In this session, you’ll learn how different aspects of psychology, including developmental, cognitive psychology, and clinical psychology, play into both individual choices and financial planning relationships. We’ll distinguish between two sides of financial psychology: client psychology, which focuses on the client-advisor relationship, and individual differences, which focuses on the client as an individual. You will learn how life experiences, personality, and other characteristics set the stage for future financial behaviors, as well as how to use structured interviews and assessments to learn more about the financial psychology of clients.  NOTE: the full slide deck for this session will not be shared, but key takeaway slides will be provided.

Presenter: Sarah Stanley Fallaw, Ph.D., Datapoints

Sarah Stanley Fallaw, Ph.D. is the co-author of The Next Millionaire Next Door and the founder of DataPoints, a behavioral assessment advisor tech company. DataPoints created the industry’s first assessment of wealth potential based on The Millionaire Next Door. Her research on psychometrics and financial psychology has been featured in conferences and publications including Financial Planning Review, Industrial and Organizational Psychology, and the Journal of Financial Services Professionals. Sarah received her Ph.D. in Applied Psychology from the University of Georgia in 2003. Learn more about her work and research at www.datapoints.com.

Register on My.AFCPE here.

Register for the Zoom here.