The role of financial advisors is changing from planning and transactions to behavioral coach. A valued advisor motivates clients to act in a manner consistent with the goals defined in their financial plan. By providing accountability and aiding clients in emotion management, you can set the stage for financial success and security.
As business models shift from product compensation to advice compensation, financial advisors trained in behavioral finance possess a compelling value proposition. Skills learned in a behavioral financial advice program will assist you in transitioning to advice-based fees by offering a holistic approach that effectively influences investor behavior and strengthens your advisor-client relationship.
In light of the uncertainty of the DOL Fiduciary Standard Rule, the BFA program makes solid business sense. This valuable training supports advisor compliance and helps drive business results. While products and investments are important, effective behavioral use of products is even more important. Ensure you’re equipped to best handle the new ruling by holding an advanced designation like the BFA. Show your clients you’re compliant and looking out for their best interests.