Behavioral finance is the study of the effects that emotions and biases have on the decision making of investors. As of 2020, more than half of financial advisors worldwide declared that incorporating behavioral finance in their practice helped keeping clients invested during market volatility. Moreover, 48 percent of the respondents increased client retention thanks to behavioral finance.
Main benefits of incorporating behavioral finance into financial advisors' practice worldwide 2019 and 2020
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Charles Schwab Corporation. (September 8, 2020). Main benefits of incorporating behavioral finance into financial advisors' practice worldwide 2019 and 2020 [Graph]. In Statista. Retrieved May 16, 2024, from https://www.statista.com/statistics/1249682/main-benefits-of-behavioral-finance-worldwide/
Charles Schwab Corporation. "Main benefits of incorporating behavioral finance into financial advisors' practice worldwide 2019 and 2020." Chart. September 8, 2020. Statista. Accessed May 16, 2024. https://www.statista.com/statistics/1249682/main-benefits-of-behavioral-finance-worldwide/
Charles Schwab Corporation. (2020). Main benefits of incorporating behavioral finance into financial advisors' practice worldwide 2019 and 2020. Statista. Statista Inc.. Accessed: May 16, 2024. https://www.statista.com/statistics/1249682/main-benefits-of-behavioral-finance-worldwide/
Charles Schwab Corporation. "Main Benefits of Incorporating Behavioral Finance into Financial Advisors' Practice Worldwide 2019 and 2020." Statista, Statista Inc., 8 Sep 2020, https://www.statista.com/statistics/1249682/main-benefits-of-behavioral-finance-worldwide/
Charles Schwab Corporation, Main benefits of incorporating behavioral finance into financial advisors' practice worldwide 2019 and 2020 Statista, https://www.statista.com/statistics/1249682/main-benefits-of-behavioral-finance-worldwide/ (last visited May 16, 2024)
Main benefits of incorporating behavioral finance into financial advisors' practice worldwide 2019 and 2020 [Graph], Charles Schwab Corporation, September 8, 2020. [Online]. Available: https://www.statista.com/statistics/1249682/main-benefits-of-behavioral-finance-worldwide/