Befi is Dead; Long Live Befi! with Shaping Wealth’s Brian Portnoy

In this episode, we delve into the world of behavioral finance and financial planning with Brian Portnoy, one of the co-founders of Shaping Wealth. We discuss the importance of understanding human behavior in financial planning, the concept of 'behavioral finance 2.0', and how financial advisors can better serve their clients by taking a more human-centric approach.Topics Discussed• Discussion on normalizing human behavior in financial planning and the emergence of 'behavioral finance 2.0', which focuses on understanding the humanity of clients rather than their flaws• Exploration of the difference between reflective happiness and life satisfaction, and how these concepts can guide financial planning• Insights into the role of identity and narrative in financial planning, and how advisors can help clients navigate these complex dimensions• Discussion on how individuals can engage in self-reflection and maintain honesty in their financial journey despite external influences• Introduction to the concept of 'funded contentment' and how it relates to wealth and financial planning• Discussion on the recruitment and training of advisors suited for a human-centric approach to financial planning• Insights into the sensitive and complex nature of discussing identity and purpose with clients, and the importance of having better coaching skills• Introduction to Lydia, an AI tool designed to assist financial advisors by providing empathetic and insightful guidance• Discussion on the potential of Lydia to enhance the financial advising process by providing personalized insights and suggestions based on the advisor's patterns and past conversationsThis episode provides valuable insights into the evolving field of financial planning, emphasizing the need for a more human-centric approach. It introduces innovative tools and methodologies that can enhance the advisor-client relationship and ultimately lead to better financial outcomes. A must-listen for anyone interested in the intersection of behavioral finance, financial planning, and AI technology.

Om Podcasten

Welcome to ReSolve Riffs Investment Podcast, hosted by the team at ReSolve Global*, where evidence inspires confidence. These podcasts will dig deep to uncover investment truths and life hacks you won’t find in the mainstream media, covering topics that appeal to left-brained robots, right-brained poets and everyone in between. In this show we interview deep thinkers in the world of quantitative finance such as Larry Swedroe, Meb Faber and many more, all with the goal of helping you reach excellence. Welcome to the journey. *ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.