Bullshift! How Optimism Bias Threatens Your Client's Finances

By CE Corner

In this course, author and portfolio manager John De Goey discusses the potential for the financial services industry to exhibit optimism bias and thus influence financial advisors to be bullish. The result would be that advisors wouldn't always give their clients the best advice.

The course addresses this “bullshift” by helping advisors assess their tendency toward optimism bias and offering them tips to create constructive client outcomes.

“This course actually has more questions than it has answers,” De Goey says. “I’m trying to get you as an advisor to be introspective, to think about what you do, why you do it, what your biases are, and to contemplate whether or not you could or should be doing things differently going forward.”

After taking this course, advisors will understand:

 • how optimism bias and other biases influence the financial services industry and financial advisors

 • methods to address optimism bias

 • research to help inform an evidence-based practice

 • principles and mindsets for decision-making

In the opinion of CE Corner, the content of this session aligns with FSRA’s requirements for Life and Accident & Sickness credits. However, it remains the responsibility of the individual license holder to check FSRA credits and confirm suitability.