Behavioural biases & financial decision making
The panel will discuss the way in which we reach financial decisions. In doing so they will challenge whether the public and finance professionals themselves behave in a truly rational way. Our experts will then consider the impact of the predictable mistakes or biases in this process and how they might be mitigated.
Some areas that are likely to be explored:
- Are financial education and professional qualifications sufficient to address the issue?
- What can professionals do to be part of the solution and to act in consumer’s best interests?
- To what extent can some of these biases be deployed in the customers’ interest?
- Are finance professionals more or less likely to be biased?
Host
Speaker
Dr. Katarzyna Werner-Masters
Manchester Metropolitan University | Senior Lecturer & Active Behavioral Researcher
Kat is a Senior Lecturer at the Manchester Metropolitan University and an active behavioral researcher. Her research expertise lies in the area of individual decision making under risk and uncertainty with the focus on the impact that heuristics, biases and rules of thumb have on financial choices.
Kat published papers exploring key behavioral principles guiding the choice of financial products, such as insurance, but her real passion lies in exploring how to use behavioral insights in policy making to nudge people towards a better decision-making and protect them from detrimental choices. Specifically, Kat has co-authored the report outlining the impact that rules of thumb have on financial outcomes of individuals for Money Advice Service.
She has also been awarded a grant from the Initiative for Financial Wellbeing for her research focusing on the potential use of nudges by financial advisors. In the future Kat plans to undertake more research focusing on biases among financial professionals.
Hannah has worked as a business psychologist within consultancies since 2014 and her work has taken her all over the country developing and coaching teams within Parliament, Russell Group universities, Big Four firms and across the NHS.
Hannah has worked on both the design and delivery of large-scale leadership development programmes, helping to upskill hundreds of managers at all levels. Hannah has also worked on a smaller scale with multimillion turnover SMEs to develop leaders and teams through one-to-one coaching and bespoke training.
1:00 PM - 2:00PM UK GMT
To register, please click here.
If you experience any difficulties please email [email protected]
Attending this event counts towards Chartered Banker Institute members’ annual CPD requirement (1 hour).