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Bank Investment Consultant

Can ‘financial therapy’ cure bad client behavior?

By Sean Allocca

Advisors specialize in knowing every facet of their clients’ financial lives. Will they need to delve into their mental processes and emotional states as well?

Absolutely says Dan Egan, Betterment’s director of behavioral finance. With automated software digitizing many menial tasks — like rebalancing portfolios and utilizing tax-loss harvesting — the advisors’ value will hinge on dealing with complex human relationships, he says.

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This article originally published October 25th, 2017 on Bank Investment Consultant.