Listen to this week’s episode.

Episode 013: Behavioral finance has been gaining traction in the wealth management industry as more advisors recognize its potential to provide better advice and improve client outcomes. The enthusiasm for its adoption has grown, and the value it brings to clients is undeniable. As technology continues to advance, embedding behavioral finance into an advisor’s workflow will become increasingly important. 

In today’s episode of Connected, Kyle talks with Dr. Daniel Crosby, Chief Behavioral Officer at Orion Advisor Solutions. They discuss the importance of behavioral finance in the wealth management industry. A psychologist and behavioral finance expert who helps organizations understand the intersection of mind and markets, Dr. Crosby shares his insights on adopting behavioral finance by advisors and the value it adds to their practices. 

Dr. Crosby also shares his favorite books, his writing process, and his thoughts on the nicest cities for people, food, art, and sports and the importance of experiencing a city through the eyes of someone who loves it.


Join us as we discuss:

[03:26] – How Dr. Crosby became a fan of the Cardinals.
[07:31] – The adoption of behavioral finance in the advisor community.
[10:39] – The increase in enthusiasm for behavioral finance.
[14:32] – Behavioral finance as a competitive advantage for advisors.
[19:25] – The most popular books authored by Dr. Crosby.
[21:58] – Dr. Crosby’s thought process when writing a book.
[29:19] – Dr. Crosby’s picks for the best cities for food, sports, people, and arts.


Key Takeaways

Behavioral finance is gaining momentum in the wealth management industry, but adoption has been uneven.
Research shows that advisors who incorporate behavioral finance practices have higher wallet share capture from clients.
Behavioral coaching is an essential value-add for advisors, even though clients may not explicitly recognize its importance.
Technology excels at speed and precision, but behavioral finance requires human connection and empathy.
Every city has unique and worthwhile aspects, and finding someone who loves their city can help you discover its best parts.



“The enthusiasm for behavioral finance has never been greater. But to take it to the next level, we need tools and technology that can exist on an advisor’s desktop.” ~ Dr. Daniel Crosby

“People who intentionally and explicitly used behavioral finance in their practices last year had three times the wallet share capture of those who didn’t. So they got three times more assets from existing clients than people who didn’t.” ~ Dr. Daniel Crosby

“Behavior is the last stand of the advisor. If you look at what tech does well, it does speed and precision stuff well. What it doesn’t do well is selling and connecting and empathizing.” ~ Dr. Daniel Crosby



Dr. Daniel Crosby on LinkedIn
Dr. Daniel Crosby on Twitter
Orion Advisor Solutions
Standard Deviations with Dr. Daniel Crosby
Orion Advisor Academy
The Laws of Wealth
The Behavioral Investor
St. Louis Cardinals
Atlanta Braves
Merrill Lynch


Connect with our hosts
Kyle on LinkedIn
Jud on LinkedIn


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