Overconfident? Cognitively Rigid? How Investors Can Make Better Decisions by Dealing With Emotions and Biases
Sarah Newcomb, director of behavioral science at Morningstar, Inc., discusses emotions brought on by market loss, talks about how they can affect decisions, and offers some ways to cope. Ryan Murphy, head of decision sciences at Morningstar Investment Management, discusses cognitive biases to watch out for and ways investors can make better decisions.
Firms that provide the infrastructure for the online economy have demand for their services boom during the pandemic.
Derek Notman is a virtual advisor. That doesn't mean he just uses video conferencing to talk with clients. His entire practice is virtual, and he's helping other advisors do the same.
With so much market noise, it can be difficult for investors to see how financial plans can help them stay on track toward their long term goals.To help with client conversations, advisors can review our Progress Update, which includes slides covering the market downturn and the importance of staying the course.
Recent data show that the retirement savings of millennial and baby boomer women continue to lag behind their male peers.
Investors today have very complex financial lives. It is not uncommon for an individual or couple to have bank checking accounts, savings accounts, retirement accounts (401k, 403b, Roth IRA’s), investment accounts, etc., spread across multiple institutions, multiple platforms and multiple advisors. This situation makes securing a comprehensive financial plan difficult.