Recency bias, when investors are easily influenced by recent news events or experiences, was the most frequently seen bias financial advisors saw among clients in both 2019 and 2020. In both years, 35 percent of responding financial advisors had seen this bias affect their client's investment decision making significantly. The second most common bias seen by investors was loss aversion: opting for less risk in portfolio than is recommended.
Most frequent client biases seen by financial advisors worldwide in 2019 and 2020
This question was phrased by the source as follows: "to what degree do you believe the following biases may be affecting your clients’ investment decision making?"
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Charles Schwab Corporation. (September 8, 2020). Most frequent client biases seen by financial advisors worldwide in 2019 and 2020 [Graph]. In Statista. Retrieved December 23, 2024, from https://www.statista.com/statistics/936127/financial-advisors-biases-among-investment-clients/
Charles Schwab Corporation. "Most frequent client biases seen by financial advisors worldwide in 2019 and 2020 ." Chart. September 8, 2020. Statista. Accessed December 23, 2024. https://www.statista.com/statistics/936127/financial-advisors-biases-among-investment-clients/
Charles Schwab Corporation. (2020). Most frequent client biases seen by financial advisors worldwide in 2019 and 2020 . Statista. Statista Inc.. Accessed: December 23, 2024. https://www.statista.com/statistics/936127/financial-advisors-biases-among-investment-clients/
Charles Schwab Corporation. "Most Frequent Client Biases Seen by Financial Advisors Worldwide in 2019 and 2020 ." Statista, Statista Inc., 8 Sep 2020, https://www.statista.com/statistics/936127/financial-advisors-biases-among-investment-clients/
Charles Schwab Corporation, Most frequent client biases seen by financial advisors worldwide in 2019 and 2020 Statista, https://www.statista.com/statistics/936127/financial-advisors-biases-among-investment-clients/ (last visited December 23, 2024)
Most frequent client biases seen by financial advisors worldwide in 2019 and 2020 [Graph], Charles Schwab Corporation, September 8, 2020. [Online]. Available: https://www.statista.com/statistics/936127/financial-advisors-biases-among-investment-clients/
