As an expert in applied decision science and behavioral finance, Greg gives one example after another on how you can design your practice, your process, and your conversations for optimal behavior and better outcomes.

Greg Davies is the head of behavior at Oxford Risk, where he focuses on improving financial decision-making through the use of behavioral science, and is the co-author of the book Behavioral Investment Management. 

Greg works with advisors and planners around the world on how to apply behavioral finance in order to make optimal decisions in the face of complexity, uncertainty, and behavioral biases.

We discuss:

• The two types of financial plans: One for technical knowledge and one for governing behavior
• How the implementation of technology unlocks your ability to give better advice AND focus more on the human side of the relationship
• The importance of nailing the risk assessment with a focus on anxiety-adjusted returns instead of risk-adjusted returns
• The three components of risk assessment: Risk Tolerance, Risk Capacity, and Emotional Capacity and how to incorporate them all
• Where he thinks behavioral finance will be within the industry in 2030

To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here

Connect with Brendan Frazier: 

• RFG Advisory
• LinkedIn: Brendan Frazier
• X:@jbrendanfrazier

Connect with Greg Davies:

• LinkedIn: Greg Davies
• X: Greg Davies

About our Guest: 

Greg is a specialist in applied behavioral finance, decision science, sustainable investing, and financial well-being.

He founded the banking world’s first behavioral finance team at Barclays in 2006, which he led for a decade. In 2017 he joined Oxford Risk to lead the development of behavioral software to help people make the best possible financial decisions.

Greg holds a PhD in Behavioural Decision Theory from Cambridge; has held academic affiliations at UCL, LSE, Imperial, and Oxford; and is the author of Behavioral Investment Management.

Greg is Chair of Sound and Music, the UK’s national organization for new music; and creator of Open Outcry, a ‘reality opera’ that premiered in London in 2012, creating live performances from a functioning trading floor. He is also a frequent speaker and runs CPD-accredited Behavioural Wine Tasting events with Master of Wine John Downes: A unique interactive event combining decision science, live psychology experiment … and wine.

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In an industry where 99% of the training, certifications, designations, and conferences are geared towards the technical side of the relationship, high-quality, top-notch resources on applying behavioral finance in your practice are sparse.

In this episode, Brendan answers the most common question posed by advisors and planners when it comes to the human side of money: “How do I develop this skill set?” 

The answer lies in a 3-step process:

• Spark Innovation from Outside Perspectives: We need to look to experts in fields like behavior, psychology, communication, and more.
• Channel Outside Perspective Through Experience: We can learn from those outside of our industry, but ultimately, we need to have a community of other advisors and planners to collaborate with.
• Refine Through Practice: Like any skill, you’ll never get the results you want without practice.

To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here

Connect with Brendan Frazier: 

• RFG Advisory
• LinkedIn: Brendan Frazier
• X:@jbrendanfrazier

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The value and future of financial advice is currently facing a crossroads as it shifts towards blending technical advice with the ability to change behavior.

In this episode, Brendan tells the story of a client meeting he observed that helped shine a light on the forces causing this shift and why most advisors and advisory businesses simply aren’t equipped to evolve and take advantage.

We discuss:

• Why the future of advice will be more focused on guiding clients through the process and changing behavior for the better
• How heart bypass surgeries, entrepreneurs, obesity, and marriages teach us that providing information and advice will never be a sustainable value proposition
• How pairing technical expertise and the human side of money provides massive benefits to your clients and your business
• The immense gap that exists between the skill set advisors possess and the skill set they need to evolve with this shift in value towards the human side of money
• What advisors can learn from hostage negotiators and therapists in this quest for a new skill set

To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here

Connect with Brendan Frazier: 

• RFG Advisory
• LinkedIn: Brendan Frazier
• X:@jbrendanfrazier

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