Advisors will be able to learn more about behavioral financial planning and economics through a program launched by the Financial Planning Association in cooperation with TrueProfile, a behavioral economics research and educational firm, and the University of California at Berkeley’s Executive Education school, the FPA announced Wednesday.
The program will include a series of educational programs designed to teach advisors how to better customize plans for each client.
“Through this partnership, FPA members will be able to more readily combine standard economics with a deeper understanding of human behavior to drive better outcomes for their clients,” said Lauren M. Schadle, the FPA’s executive director and CEO.
The following educational programs will be included in the series:
Dr. Shachar Kariv, chief scientist at TrueProfile, and Dr. Dan Silverman, who is the Rondthaler professor of economics at Arizona State University and head of research at TrueProfile, will lead the FPA’s Knowledge Circle on Applied Behavioral Economics, a virtual, interactive community.
A three-part webinar series entitled “Inside Client Behavior” will focus on applied behavioral economics and will introduce the discipline of behavioral economics to financial planners.
In May, Kariv will join the FPA’s monthly Journal in the Round panel to discuss his work.
During the summer, TrueProfile and the FPA will conduct a research project to see how advisors are adopting behavior-based practices. The results of the research will be unveiled at the FPA annual conference in Chicago in October.
Berkeley Executive Education and TrueProfile will launch a game-based, science-based client profiling and intelligence platform entitled “TrueProfile Behavioral Economics Client Intelligence Platform” on TrueProfile.com.