Speaker: Steve Wendel - Morningstar
Topic: The Biases Advisors Face
CFP credit approved.
No CLE credit for this seminar.
Presentation Overview: We all know that investors face common behavioral challenges in investing: from overconfidence to confirmation bias. In recent years, there has been a slew of research concerning the biases that advisors exhibit as well. Although advisors and other professionals are highly trained and skilled in their trade, they are not immune to the everyday behavioral biases we all face.
This presentation takes an in depth look at the behavioral biases found among financial advisors—whether they stem from the misalignment of incentives, general lack of understanding, or widespread behavioral tendencies—and how advisors can be self-aware in their own practice.
Steve Wendel is head of behavioral science for Morningstar, where he leads a team of behavioral scientists and practitioners who conduct original research to help people invest and manage their money more effectively. Before assuming his current role in 2015, he was principal scientist for HelloWallet, where he studied savings behavior and coordinated the research efforts of HelloWallet’s advisory board. Morningstar acquired HelloWallet in 2014. His latest book, Improving Employee Benefits, shows HR practitioners how they can use behavioral economics to help employees to take action on their benefits. Steve holds a bachelor’s degree from the University of California, Berkeley, a master’s degree from The Johns Hopkins University School of Advanced International Studies, and a doctorate from the University of Maryland, where he analyzed the dynamics of behavioral change over time.
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- Networking begins at 7:15 a.m.
- Breakfast served at 7:30 a.m.
- Speaker Presentation at 8:00 a.m.
- Meeting concludes at 9:00 a.m.