In Praise of Working with the Emotional Investor

“Puisque les émotions jouent un rôle clé dans le comportement des investisseurs, les conseillers devraient adapter leurs interventions en fonction de la psychologie de ces clients. Telle est la thèse de ce livre qui s’adresse particulièrement aux conseillers. L’auteur, lui-même conseiller en gestion de patrimoine résidant au New Hampshire, estime qu’il existe trois grands types psychologiques d’investisseurs. Appelé «fixer», le premier type aime planifier ses affaires et en prendre la direction. Lorsque les marchés vont trop mal ou trop bien, les fixers ont tendance à ne pas écouter leurs conseillers et à les contester. Le deuxième type, le «survivant», valorise la créativité. Les conseillers lui procurent la structure qu’il recherche. Finalement, le «protecteur» pense avant tout à ses proches et à sa famille et il évite le risque. Cette catégorisation se discute. Toutefois, l’approche de l’auteur donne à réfléchir. Qu’importent les catégorisations possibles de clients, les conseillers doivent créer un lien émotif avec ceux-ci, s’adapter à leur configuration émotive, et parfois, mieux se connaître eux-mêmes.”

Finance et Investissement: Review in French published to newspaper database, Vol. 18 No. 14
Économie et recherche, vendredi 1 septembre 2017, p. 22

—Jean-François Barbe

Sur les rayons , Étudier les comportements

“Most successful investors have a contrarian streak.  They buy when others are selling or, as Baron Rothschild put it, “when there’s blood in the streets.”  But, for the vast majority of investors – the frightened herd – waiting for the proverbial ‘marching band,’ embracing the status quo, or even selling out serves as an emotional refuge.  In Working with the Emotional Investor, seasoned wealth advisor Chris White offers his fellow wealth advisors essential advice on how to deal effectively with either type of client and with everybody in between!  Indeed, he provides a critical roadmap to help advisors deal with investors who are influenced by a wide variety of conscious and unconscious emotions.”

—Arnold S. Wood

Co-Chair, Investments, Martingale Asset Management

“Chris White gives us a treasure trove of well researched advice on wealth owner behavior, advisor bias, and a process for building a strong relationship with our clients.  This book allows you to explore in depth some of your intuition about the business and gives you keen insight into how to engage with different personalities in your day to day work.  An excellent contribution to the field of private wealth for decades to come!”

—Sara Hamilton

Founder and CEO, Family Office Exchange

“Our human capacity for emotions plays a crucial (though often not fully understood) role in all the significant decisions in our life.  The manner in which money is used in our society and has been used in the lives of the clients we serve has imbued this neutral form of exchange with very strong emotional connections.  Therefore in order for a wealth advisor to become a truly ‘trusted advisor,’ it is vitally important to understand the client’s unique emotional perspectives regarding financial choices.  Working with the Emotional Investor provides a valuable resource for a wealth manager desiring to increase expertise in the intriguing field of behavioral finance.”

—Lee Hausner, PhD

Senior Vice President, Family Enterprise

“Finally, a paradigm shift in investment counseling.  An approach that takes investor dynamics into account along with market dynamics.  Brilliant!”

—David Kantor, PhD

Psychologist, author of Reading the Room, and former professor, Harvard Medical School

“I have watched Chris in action, expertly leading an endowment committee through the treacherous waters of portfolio management.  But not until reading Working with the Emotional Investor did I fully appreciate his profound understanding of the dynamics at play.  Chris demonstrates convincingly that in any investment discussion, the numbers are important but managing the underlying emotions associated with investment decisions is essential as well.  A critical read for wealth advisors everywhere!”

—Eric Schultz

Former Chairman of the Board of Trustees, New England Historic Genealogical Society

“Few things are as intimate and poorly understood as the emotions surrounding money.  Drawing upon psychology, behavioral economics, and neuro-economics as well as his own experiences advising high net worth clients, Chris White lays out a path both to understanding the emotional factors at play when people confront major financial decisions and working with those influences to best serve the client or, in the case of development, the donor.”

—Steve Rum

Vice President for Development & Alumni Relations, Fund for Johns Hopkins Medicine