How to overcome subconscious biases that interfere with financial decision-making

The Globe and Mail
August 1, 2023.

In an article for the Globe and Mail, Alexandra Horwood, Portfolio Manager, Investment Advisor with Richardson Wealth writes about the profound impact of psychological factors on investment decisions.

These deep-rooted beliefs, emotions and personal values can lead even experienced investors to make impulsive choices that derail long-term financial objectives.

Wealth advisors have a unique opportunity to work with clients to identify their blind spots and explore potential biases or triggers. By investing the time to understand and acknowledge the complexities of a client’s beliefs and experiences, advisors can play a vital role in safeguarding their long-term financial goals.

*Globe Advisor subscription required.

Read more.

Related articles

2024

Navigating your leave from work – and your return

October 29, 2024 - Taking time off work? Richardson Wealth’s Maria Miletic & Alexandra Horwood share tips on planning financially & emotionally, from budgeting to…

2 minute read

2024

Why some advisors are turning to alternatives in tricky bond environment

October 24, 2024 - Diana Orlic discusses how the alternative credit space can generate consistent returns amid inflation and interest rate uncertainty.

2 minute read

2024

How this advisor learned balance

October 24, 2024 - How did Tiffany Harding’s journey to financial independence shape her career? She shares her story in Globe Advisor’s Behind the Advice.

2 minute read