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BEHAVIORAL PSYCHOLOGY AND PROFESSIONAL FINANCIAL ADVICE
By Staff Reporters
SPONSOR: http://www.MarcinkoAssociates.com
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Fund managers Tom Bailard, Larry Biehl and Ron Kaiser identified five types of investors, each type characterized by their investment preferences and actions. These 5 types are: Individualists, Adventurers, Celebrities, Guardians and Straight Arrows. Key to the different categories is their different attitude to seeking professional financial advice. Defined below:
Individualists have faith in their own investment abilities so do not approach a financial adviser. But they are also cautious.
Adventurers are what may be called high rollers, in that they like big bets, tend not to diversify and are happy to put all their eggs in one basket. They, too, are unlikely to seek financial advice.
Celebrities tend to follow the crowd in investment terms but are aware of their lack of expertise so frequently consult advisers.
Guardians are fearful of losing money, thus prefer rock-solid investments such as government bonds. They, too, are likely to seek professional investment advice.
Straight Arrows exhibit some of the characteristics of individualists and some of adventurers.
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Filed under: "Ask-an-Advisor", Ethics, Experts Invited, Financial Planning, Glossary Terms, iMBA, Inc., Investing, Marcinko Associates, mental health | Tagged: Behavioral Psychology, Biehl and Kaiser, Biehl Kaiser, Bielard, CFP, CMP, creativity, financial advisor, financial planner, five-way investor model, inspiration, investor models, investor personality, Marcinko, mental health, personality model, psychology, self-improvement, writing |
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