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12 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Financial Planning Process |
1. Est & define client relationship 2. Gather client data 3. Analyze & Evaluate Financial Status 4. Develope & present recommendations 5. Implement recommendations 6. Monitor plan |
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Step 3 of Financial Planning Process |
Analyze & Evaluate Financial status |
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Step 4 of Financial Process |
Develope and present recommendations |
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Step 5 of Financial Planning process |
Implement plan |
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Anchoring |
Attaching ones thoughts to a reference point even though it may not be relevant |
Aka conservatism or belief perseverance |
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Confirmation Bias |
Filter info to support their opinions |
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Gambler's Fallacy |
Incorrect belief in probability. Something happens more often now won't in future. |
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Herding |
Group mind. If lots of people believe must be true. |
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Hindsight bias |
Looking back after the facts are known |
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Overconfidence |
Only listens to themselves and rely on only their strengths. |
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Overreaction |
Overweighting emotion to news or info. |
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Prospect theory |
Value gains and losses differently |
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