#1 July 2019

Articles and Blogs

🧠 Are Smarter People Better Investors?

Investment success depends on investor behaviour, but what if that behaviour is correlated with intelligence?

📉 Revisiting Capacity For Loss in Retirement

"Risk capacity can be easily accounted for in the context of the client’s goal and behaviour of the underlying assets they invest in. The sustainable withdrawal framework accounts for this, without even having to mention the phrase."

🎨 Human Factor

Planning should be guided by the numbers, but great advice is more art than science.

7 Essential Money Questions Sure to Start a Conversation

Say less, ask more.

🐶 Stay in the Game

Good things happen to good people. Read this and have your faith in humanity restored.

📜Five Lessons from History

When Morgan writes, we read.

🆘 Saving Investors From Themselves

"That’s why I keep at it, even though I have profound doubts that most people will ever learn how to be better investors. I never expect everyone to listen; all I ever hope for is to get someone to listen." Many are called, few are chosen.


🛋️Morgan Housel - The Psychology of Money

The best writer in finance discusses why education improves outcomes in other disciplines but not always in finance, the importance of our personal histories, and the appropriate balance between optimism and pessimism.

🏭 Josh Brown: 'Standardize the Process, Personalize the Advice'

The Reformed Broker tells the story of his conversion from commissioned broker to CEO of Ritholtz Wealth Management, and how they manage client behaviour. "You're going to lose money. It's gonna happen. There's no way around it."

🎯 Financial Advisors As Adherence Partners To Deliver Advice That Actually Sticks with Moira Somers

The author of "Advice That Sticks" explains how patient compliance research from the medical field is being applied to help clients better adhere to financial advice, and gives specific steps advisors can take to improve the way they deliver advice in order to significantly increase the likelihood that it will be followed.

👂The Dying Art of Conversation

Celeste Headlee has had decades of experience fine-tuning the recipe for engaging and rewarding conversation. She shares some tips to help us instantly improve our conversational skills and meaningfully connect with others.

🔮Michael Kitces – The Past, Present & Future of Financial Advice

Michael details the history of financial planning, the value proposition of the future, and how he sees the future of adviser fees.

👔 Berkshire Hathaway Annual Shareholder Meetings (since 1994)

Audio from every AGM since 1994. Pure gold.

Book Recommendations

Robert Greene: The Laws of Human Nature

This book provides a framework for understanding people's drives and motivations, even when they are unconscious of them themselves.

Atul Gawande: The Checklist Manifesto

Written in the context of medicine, this book makes a compelling for the use of checklists as a way to deal with the incredible complexity that we face as professionals.


🔐 Simple but Not Easy: Morningstar’s Guide for Helping Investors Overcome Behavioural Obstacles

A guide about behavioural science and investing, and how advisers can practically apply that research to their work: to help their clients, and themselves, avoid common pitfalls.



Matt D'Avella - Everything You've Been Told About Money is Wrong

"Most of us should spend less time on most decisions and we should spend a lot more time on a few key decisions." Ramit Sethi will make you think differently about your own money behaviour.


Charlie Munger - The Psychology of Human Misjudgment.

This speech, originally delivered by Charlie Munger to an audience at Harvard University in 1995, explores how behavioral psychology can be applied to business and problem-solving.


Kitces & Carl Ep 05: Do Clients Really Value Getting Help Managing Their Behavior Gap

It's our reason for being, but is it how we should sell ourselves?