Q: 7
Jeff is a new client. He is 50 years old with modest savings in the low six figures, and wants to
reinvest his portfolio to ensure that he can retire comfortably at age 65. In his meeting with Jeff, the
advisor uncovered some of Jeff’s biases. Jeff displayed several strong emotional biases along with a
few weak cognitive biases. What should the advisor do?
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Discussion
B , you usually have to adapt more with emotional biases since they’re tougher to change, especially when wealth level is modest. Cognitive ones you just try to moderate. Pretty sure that’s what the textbooks say here, but open if someone disagrees.
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