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Behavioural Mash Up

Simon Reilly

Behavioural is the operative word when it comes to financial advisor and investment advisor success.

If you don’t have the inherent successful behaviours or you don’t know how to adapt from your natural behaviours to the behaviours of a successful financial advisor or investment advisor you will never be a success.

I titled this blog Behavioural Mash Up because;

  • One of my Tweets from last week was; How do I learn how to attract high net worth financial and investment advisors? Read books on how financial and investment advisors attract their high net worth clients. I took action and ordered every financial advisor coaching and investment advisor coaching book that I could find.
  • In the course of my book research, I found and ordered Nick Murray’s;

BICBehavioural Investment Counselling

Nick’s latest (December 2008) book for advisors is a complete investment advisory paradigm, based on two essential perceptions. First, that the dominant determinant of long-term, real-life return is not investment performance but investor behaviour. Second, that behaviour modification ought to be, in and of itself, an advisor’s value proposition, because great behavioural advice is — at critical moments in an investor’s lifetime — worth so much more than the advisor can ever charge for it. The goal of Behavioural Investment Counselling is to free your practice from the classic excesses of investor emotion: euphoria, panic and performance-chasing.

  • If you consider Nick’s ideas about investor behaviour, would not the same theory apply to the way financial advisors and investment advisors run their businesses?
  • In advance of all of the above, I wrote a blog last week called  Behavioural Marketing & Sales Characteristics which offers some ideas on how financial advisors and investment advisors can adapt and manage successful behaviours.
  • This leads me to the concept of Behavioural Time Management. I believe the biggest issue that financial advisors and investment advisors are facing today is Time Management and they have to learn how to adapt their behaviours to get the best use of their time.

Segwaying off of Nick’s words; The goal of Behavioural Time Management is to free your practice from the classic excesses of YOUR emotion: euphoria, panic and performance-chasing.

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