How can we help investors make rational decisions during a global pandemic?

Historical data shows us that when the markets fall, many investors sell their investments at a loss that they never fully recover. This is a loss that they could have avoided if they held on to their investments through the recovery period (and historically, there is always a recovery period). We are in the midst of the economic fallout caused by a global pandemic; these emotional and uncertain times can lead to sub-optimal behaviours for investors.

Why does this happen? How can we help investors avoid these errors to have better long-term outcomes?

Hear from David Lewis, BEworks’s Chief Client Officer, and Max Thompson, BEworks’s Executive Advisor to Financial Services, including an introduction by BEworks Co-founder, Professor Dan Ariely.

David has completed extensive research on financial decision-making. Over a long career in financial services, David increasingly wondered why people make sub-optimal decisions, why they often do not seek professional financial advice, and why they often ignore the advice. David’s academic publications include quantitative and qualitative research to understand heuristics and biases as well as advice seeking.

Time: 8am PST | 11am EST | 4pm GMT - Be mindful of your timezone

Zoom link will be sent out via email the day before the event. The session will be recorded and shared with all registrants following the webinar

Who Should Attend:

• Financial Advisors
• Investment Managers
• Financial Industry Stakeholders
• Investors

Topics:

• Fundamentals of Behavioural Economics
• The Psychology of Decision under Risk
• Biases that affect investment decisions
• Effective and practical tactics that can be applied to improve financial decision-making

Speaker Bios:

David Lewis PhD, MBA, CFA

Chief Client Officer

David Lewis is the Chief Client Officer at BEworks. At BEworks, David promotes the application of behavioural economics to solve organizations’ most challenging problems. David earned his PhD in Marketing (Consumer Behavior) from the Lazaridis School of Business and Economics at Wilfrid Laurier University. He completed his MBA in Finance and Strategy at the Schulich School of Business at York University, and is also a Chartered Financial Analyst.

Prior to joining BEworks, David was an Assistant Professor at the Ted Rogers School of Retail Management at Ryerson University. David has held numerous senior positions including Head of Technology, Head of Marketing, President, CEO, and Chairman of the Board, at global financial institutions including Barclays Wealth USA, UBS Bank USA, UBS Financial Services Americas, ING DIRECT USA, and Bank of Nova Scotia. Ad Age magazine has also recognized him as being one of the Top 50 marketers in the United States.

Max Thompson MBA, CFA

Executive Advisor, Financial Services

Max holds an MBA from Concordia University and is a Chartered Financial Analyst. At BEworks, Max uses his expertise and experience in collaborating with financial institutions to understand their challenges and articulate how BE infused strategies can complement core underlying strategies often creating tremendous synergies for the client

Prior to joining BEworks, he spent 20+ years with Royal Bank of Canada and is a subject matter expert in Retail Banking and Wealth Management. Max has a proven track record of executing strategic deliverables within increasingly senior mandates such as: Head of GICs and Savings, Senior Director of Unsecured Lending, Head of Strategy, Mortgages and Home Ecosystems and Head of Strategy and Analytics, Caribbean Banking.

About BEworks:

BEworks has an extensive portfolio in the financial services industry, including long-standing relationships with financial institutions, insurance companies, industry regulators, and professional member associations in North America, Europe, and Latin America.

Related specifically to investor decision-making, our thought leadership and application of the BEworks Method has helped our clients rethink and solve challenges including:

• Supporting informed decision-making on the part of investors navigating fee and performance details in their annual investment statements

• Nudging long-term savings behaviours through a mobile app that leverages the Future Self effect

• Encouraging impulse savings contributions by pension plan members using the labour illusion
• Building alternative risk models that leverage behaviours and biases

BEworks Academy is also introducing a new course: BE Training for Investment Advisors

87% of North American Investors either don’t have a financial advisor or ignore all or some the advice the advisor provides.

In addition, both investors and advisors are prone to a number of behavioural biases that impact their decisions, many of which are being exacerbated by the stress of a downturn economy.

Advisors are also having to contend with the changing dynamic of providing investment advice to their clients through digital channels which brings with it its own host of challenges related to trust in the advice and the ability to detect decision-making cues in their clients body language.

All of these issues, plus learning about the basics of BE and how it can be applied to help ease clients and provide better investment advice during this time, will be covered in the BEworks Academy Course.

The BEworks Academy course for Investment Advisors will cover all of these topics, plus foundational insights about BE that can be applied to help provide better investment advice during this time.

To register for the course, please contact info@BEworks.com