MarketPsych: How to Manage Fear and Build Your Investor Identity is designed to be a practical guide for financial advisors to learn about the most important, and most ignored, aspect of their work psychology. This book makes the theoretical practical by translating it into concrete tools and techniques designed specifically for financial advisors. The MarketPsych Handbook contains practical worksheets and planning tools that affect all aspects of the financial advisor’s practice. In addition, it details the emotional aspects of running an advisory business, which is crucial for all financial counselors.
Book Details:
- Author: Richard L. Peterson
- ISBN: 9780470543580
- Year Published: 2010
- Pages: 240
- BISAC: BUS027000, BUSINESS & ECONOMICS/Finance
About the Book and Topic:
MarketPsych: How to Manage Fear and Build Your Investor Identity is designed to be a practical guide for financial advisors to learn about the most important, and most ignored, aspect of their work psychology. This book makes the theoretical practical by translating it into concrete tools and techniques designed specifically for financial advisors. The MarketPsych Handbook contains practical worksheets and planning tools that affect all aspects of the financial advisor’s practice. In addition, it details the emotional aspects of running an advisory business, which is crucial for all financial counselors.
Many financial advisors fail to acquire or retain business because they are unable to meet the emotional needs of their clients. This book trains financial advisers to understand and connect with the emotional psychology of their clients, which is the key to building healthy and lasting business relationships. Financial advisors receive copious training in the details of running their businesses, but very little training in the fundamentals of understanding, connecting with, and recruiting clients. The 2008 financial crisis has changed the nature of financial advisory business. More than ever, advisors have realized the centrality of psychological skills to their success. Historically most financial professionals were “brokers” whose job it was to sell products and earn money from commissions. Their role has since evolved from a primarily transactional role to a more expert role – that of “financial advisors” who provide financial guidance and recommendations and occasional personal advice and couples counseling.
It’s a timely book. Investors and financial planners generally look for essential advice to cope with emotions of fear and greed during extreme market conditions. Author track record and platform. Richard Peterson has proven he has a following in behavioral investing space with his publication of Inside the Investor’s Brain. In addition, he has consulted and lectured with many investment firms who potentially can buy books. Financial planners need help. As clients steer clear of the stock market, financial planners need information on how to wisely counsel clients about letting human emotions overcome rational investment decision-making.
About the Author
Richard L. Peterson, MD (Los Angeles, CA) is Partner in MarketPsych LLC where he trains and coaches financial advisers, portfolio managers, traders, and executives in emotion management and intuitive decision skills. He is also the Managing Member of MarketPsy Capital LLC, a psychology-based asset management firm. He is the author of the book, Inside the Investors Brain (Wiley, 2007), which was praised as “exceptionally well-written” and “outstanding” by Barrons. His financial psychology research has been published in leading academic journals and textbooks, and he is an Associate Editor of the Journal of Behavioral Finance. He is academically affiliated with the UC Berkeley Center for Innovative Financial Technology and Claremont Graduate University Center for Neuroeconomics Studies. He holds honors degrees in Electrical Engineering (BS), Arts (BA), Medicine (MD). Dr. Peterson completed neuroeconomics post-doctoral studies at Stanford University, and he is Board-certified in Psychiatry. He is Registered as an Investment Adviser (Series 65) in the State of California. Frank F. Murtha, PhD (New York, NY) received his doctorate in Counseling Psychology from the State University of New York at Buffalo in February of 2001. A recognized gambling expert, his groundbreaking dissertation was the first to explore the effect of cognitive errors in gambling behavior. He has taught at the State University of New York at Buffalo, the Smeal College of Business Administration at Penn State University, and at New York University. At the New York-based consulting firm RHR International Company, Dr. Murtha developed senior executives in leadership and pioneered a specialty in the new field of behavioral finance. His clients have included investment banks, financial services companies, and day trading firms where he has coached institutional and retail portfolio managers in reaching peak performance. A behavioral finance content expert, Dr. Murtha co-founded the behavioral finance website, www.marketpsych.com. He has been interviewed by numerous news and print media and was recently featured on CNBC and on World Business Review, hosted by Alexander Haig. He works as a consultant, speaker, and writer based out of New York City.