Understanding Behavioral Aspects of Financial Planning and Investing

ArXiv ID: ssrn-2596202 “View on arXiv”

Authors: Unknown

Abstract

Understanding fundamental human tendencies can help financial planners and advisers recognize behaviors that may interfere with clients achieving their long-ter

Keywords: Behavioral Finance, Client Psychology, Financial Planning, Heuristics, Wealth Management

Complexity vs Empirical Score

• Math Complexity: 1.5/10
• Empirical Rigor: 2.0/10
• Quadrant: Philosophers
• Why: The paper is conceptual and descriptive, focusing on behavioral finance principles and psychological biases without mathematical models or empirical backtesting, placing it in the low-math, low-rigor quadrant.

  flowchart TD
    A["Research Goal:\nUnderstand behavioral aspects in financial planning"] --> B["Methodology: Literature Review & Analysis"]
    B --> C["Data Inputs: Studies on Heuristics, Biases, & Client Psychology"]
    C --> D["Computational Process:\nIdentify Patterns & Link Behaviors to Planning Outcomes"]
    D --> E["Key Findings/Outcomes:\nRecognize biases to improve client wealth management"]