In this episode, we take a closer look at Dr. Daniel Crosby’s new book, The Soul of Wealth and some of its Behavioral Finance applications. In particular, we look at some of the most common behavioral mistakes investors make and what accounts for their persistence.Tune in to hear:What brought Dr. Daniel Crosby from practicing Clinical Psychology to Behavioral Finance?What does the phrase “Soul of Wealth” mean to Dr. Crosby personally?How do Psychology, Finance and Philosophy all come together in Dr. Crosby’s new book, The Soul of Wealth?How would Dr. Crosby describe his three books and how they differ from one another?What does Dr. Crosby think is one of the most common behavioral mistakes that investors still make today and why are they so persistent?Has investor behavior actually improved with all of the tools and information that Behavioral Finance provides to investors?How can advisors instruct their clients on how to navigate their biases and better align their investments with their values using Behavioral Finance?What role does self-awareness play in becoming a better investor?How can we better integrate emotion and reason when making financial decisions?How does Dr. Crosby personally define a successful life?What routines, or practices, help Dr. Crosby maintain clarity, focus and purpose in his work?If someone only has the time to improve one thing about their financial life this year, what would Dr. Crosby recommend?Quotes“Those are the three things advisors can do. They can teach their clients, they can educate their clients on how markets work. They can attend to the environment, give them a portfolio that maximizes the likelihood of their ability to stay the course. [Lastly]...they can be a friend, they can encourage them, during that dark night of the soul, to stay the course” - Dr. Daniel Crosby“Rather than trying to grit our teeth, and just be emotionless, I think it pays to put emotion on our side in ways that matter and try to make it work for us, because it’s always there” - Dr. Daniel CrosbyLinksDr. Daniel Crosby on LinkedInThe Soul of Wealth“Good Vibrations” by The Beach BoysConnect with UsRusty Vanneman on LinkedInRobyn Murray on LinkedIn

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