What Is The Difference Between Financial Psychology and Behavioral Finance?

Financial services as an industry is moving at warp speed to embrace psychology. The trick is that we have a definition problem when describing the field that encompasses the mind, behavior, and money. If you look at the media coverage of finance and psychology, most content focuses on cognitive errors in decision-making related to investments.[…]

Library of Behavioral Assessments - DataPoints

The Library of Behavioral Assessments for Financial Services

There are multiple ways to understand a client’s money-related personality. Financial professionals use our library of behavioral assessments to uncover client financial psychology and provide financial advice, guidance, and coaching. Learn more about each of our financial personality tests, and discover which one (or ones) might be right for your practice. Advise Assessments Building Wealth[…]

Uncover client personality with behavioral assessments

How to Add Assessments To Financial Planning

Individual personality traits can (and do) impact whether a client achieves financial goals. Behavioral assessments can help uncover client personality, values, attitudes, and beliefs. In turn, you can use this information to help provide the client with personalized guidance, education, coaching, or nudging to help them follow the financial plan and otherwise achieve goals. Below,[…]

Financial Planning Clients’ Investing Confidence & Knowledge

Financial psychology is at the heart of our product development and ongoing research here at DataPoints. Part of our research program includes examining investor-related characteristics. Our analyses include areas like confidence and composure. Our latest Client FinPsych Report explored the preferences, knowledge, and confidence of over 2,600 financial planning clients between February 2018 and May 2021.[…]

Money Scripts® Now Available on the DataPoints Platform

There is a continued and increased focus on financial psychology in the financial services world. The CFP Board has recently updated its knowledge topics to include the psychology of financial planning, covering everything from client attitudes to critical life experiences that could shape a financial plan. Financial planners recognize that money personality is a key[…]