Clients of financial advisors often do well in their respective fields, and they tend to assume that they are experts in other fields too. Advisors say that the worst “offenders” are doctors and engineers.
Financial IQ is a mini-questionnaire consisting of 5 questions to have an objective assessment of the clients’ knowledge in finance and investing so they can see their limitation. If the clients are interested in learning, advisors can provide value in helping clients learn about finance and investing.
The questions in the Financial IQ cover basic but important concepts in compounding, inflation and diversification. We plan to provide more advanced levels so clients can continue to learn and grow as investors.
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- Multi-dimensional Risk Tolerance Assessment
- From risk tolerance to proposal generation
- Investor Type
- Behavioral biases: Loss Aversion, Overconfidence, Herding
- Protecting aging clients: Cognitive Ability Test
- Financial IQ
- Describe Yourself
- Behavioral Risk Index
