Client and Planner Attitudes, Values, and Biases

Free CFP Exam lesson in Psychology of Financial Planning. 13 min read, ~1,899 words.

Four money scripts: avoidance (money is bad), worship (money solves everything), status (money = self-worth), vigilance (money must be guarded); only vigilance correlates with positive outcomes. Financial self-efficacy is not financial literacy: literacy = knowledge; self-efficacy = confidence to act on that knowledge. Cognitive biases (anchoring, framing, mental accounting), correctable...

What this lesson covers

• Content
• Example 1
• Example 2
• Common Mistakes
• Key Takeaways
• Exam Shortcuts

Learning objectives

• H.65

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