Understanding Behavioral Biases in Veterinary Financial Planning With Dr. Jordan A. Hutchison (Ep. 7)
Have you ever thought about how your mind affects your money?
The “Making Hay” podcast, hosted by Marcia Miller, provides veterinarians with essential financial guidance tailored to their profession. In today’s discussion, Marcia teams up with Dr. Jordan A. Hutchinson, Vice President of Technology at RFG Advisory, to explore the critical role of investor behavior in financial planning, particularly for veterinarians.
Key Highlights:
- “Dr. J’s” expertise in financial technology and planning, emphasizing the impact of emotions and biases on financial decisions
- The DALBAR study’s insights into the ‘behavior gap’ in investment returns due to investor behavior, and the myth of the Fidelity study about frequent trading
- The importance of understanding behavioral biases like action bias and confirmation bias in financial decision-making
- The role of financial advisors in helping manage these biases and emotions, enhancing overall financial wellbeing
- The discussion on the detrimental effects of herd mentality in investing and the benefits of a long-term investment perspective
- Marcia Miller and Dr. J emphasize a personalized approach to investment that aligns with individual goals and aspirations
- And much more!
Resources:
Connect with Marcia Miller:
Connect with Dr. Jordan A. Hutchison:
About Dr. Jordan A. Hutchison:
Dr. Jordan A. Hutchison is the Vice President of Technology at RFG Advisory. His executive leadership expertise in WealthTech, human behavior, and financial planning strategy provide him with the ability to help financial professionals live extraordinary lives. He uses his deep understanding of financial advisors, practice management, and the wealth management business cycle to apply the proper needs to run a successful financial planning firm.
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