We conclude our highlights series from the recent Financial Planner Marketing Summit with Be-IQ founder and director Neil Bage.
Neil talks about the evolution of human behaviour and explains while humans have made big leaps in terms of development, there are some fundamental aspects of our behaviour that are yet to evolve - such as how we deal with fear, or managing our emotions around money.
He discusses how this feeds into decision making, and the role of biases in high profile cases such as London Capital & Finance and in the suspension of the Woodford Equity Income fund.
Neil looks at how information is presented in the news and shares some fascinating insights into the link between perception and news versus reality.
He goes on to talk about what he describes as "the mother of all biases" - confirmation bias - and why it is so pervasive.
Neil concludes with some thoughts on how behavioural science can help advisers better understand clients' investment knowledge, change client outcomes and generally better understand the person sat in front of you.