Breakout Session

Why People Don't Invest: An Adviser's Role in Broadening and Deepening the Pool of Investors

Level of Complexity: Overview

Presenter(s)

• 

  Stephen Wendel

  Head of Behavioral Science
  Morningstar, Inc.

A majority of Americans are investors, however, many don't consider themselves so. This misconception not only hurts investors, but it may be hurting the financial advice industry. In this presentation, we present new findings that dive into people's thoughts regarding the financial advice industry. Answering questions like: How many prospective clients is the industry losing out on? What is driving these clients away from the industry? And what can financial planners do to reverse this trend?

Learning Objectives:

• Identify key misconceptions about financial advice and the role financial professionals play.
• Apply behavioral finance approaches and techniques to better understand clients actions, thinking and decision making around investing.