Dr. Daniel Crosby - The Psychology of Financial Anxiety: Five Types of Anxious Clients and What Actually Calms Them
Educated at Brigham Young and Emory Universities, Dr. Daniel Crosby is a psychologist and behavioral finance expert who helps organizations understand the intersection of mind and markets. Dr. Crosby's first book, Personal Benchmark: Integrating Behavioral Finance and Investment Management, was a New York Times bestseller. His second book, The Laws of Wealth, was named the best investment book of 2017 by the Axiom Business Book Awards and has been translated into Japanese, Chinese, Vietnamese and German. His latest work, The Behavioral Investor, is an in-depth look at how sociology, psychology and neurology all impact investment decision-making. Daniel was named one of the “12 Thinkers to Watch” by Monster.com, a “Financial Blogger You Should Be Reading” by AARP and a member of InvestmentNews prestigious "40 Under 40". When he is not consulting around market psychology, Daniel enjoys independent films, fanatically following St. Louis Cardinals baseball, and spending time with his wife and three children.
Tune in to hear:
What critical point do the formal ways of measuring financial anxiety miss out on?
What are some of the meaningful qualitative differences between how financial anxiety may present for different clients?
What are 5 different archetypes of anxious clients you might encounter?
What is one way that advisors can address clients’ anxiety-driven avoidance?
How can advisors help their hypervigilant clients? Why does simple reassurance often backfire and actually encourage hypervigilant behavior?
How should advisors best counsel clients who are prone to catastrophizing? Why is scenario planning so helpful in this case?
What is the “control-seeker” archetype like in practice and how can advisors best help them?
What is the “scarcity survivor” investor archetype and what should advisors do to help them?
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