Drew McMorrow, MBA, CFP®, was featured in the Financial Times article “Success with money is in the mind”. In it he discusses how people think about their money, and how advisers can use this knowledge to help their clients.
“He applies a method to help clients better understand their mental accounting decisions to fit his clients’ aspirations into an investment strategy, because different portfolios will have different goals and varying degrees of risk.
Mr McMorrow says this method helps his clients understand and confront their behavioural biases when investing. If someone is scared of losing money, for example, they can better deal with market downturns if only a few ‘buckets’ are affected.”
Read the complete article here.
Learn more about Drew McMorrow.