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Hosted by Northeast Florida FPA

Advanced Behavioral Portfolio Design Workshop

Bridging the gap between inspiration and implementation

There is an ever-increasing amount of information available about behavioral finance and abundant evidence of the average investor’s poor ability to navigate markets. Yet, the advisory community has produced limited guidance for advisors who wish to curb biases and improve investor decision making.

This course distills a wealth of information about investor behavior into practical tools and processes. The intended outcome is to train advisors to implement investor behavioral considerations when building portfolios, create greater client understanding and deeper client relationships, and improve competitive differentiation.

8:30 am - Registration and Networking Breakfast
9:00 am - Workshop Begins
12:00 pm - Workshop Concludes

This course is accepted by CFP Board for three (3) hours of continuing education.

Thursday, August 15, 2019
8:30 AM - 12:00 PM


University of North Florida
Herbert University Center
12000 Alumni Dr
Jacksonville   FL   32224
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FPA Members - $35 $35.00
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Non-Members - $45 $45.00
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University Students and CFP Candidates - $20 $20.00
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Eben Burr

Aug 15 2019 9:00AM

Part 1 - Understanding the impact of biases through Behavioral Portfolio Design Theory

A. How can we dampen behaviors that harm us and reinforce those that will help us achieve specific objectives?
B. What does it take to become a behavioral coach and why is it important?
C. Acknowledging the uncertainty of investing while instilling confidence through specific client preparation.
D. How can we identify typical emotional responses to various market conditions and establish processes to diminish impact?

Aug 15 2019 10:00AM

Part 2 - Building portfolios that take into account the human condition.

1. Due diligence – Staying in the slow brain when time is scarce
> How can the impact of heuristics and recency bias in decision-making be limited?
> Using past performance to conduct meaningful analysis – which stats matter?
> The imperative of understanding the strengths and vulnerabilities of each portfolio component in various market environments.
2. Behavioral Portfolio Design™ – How to stick with the diet
> Changing the focus from benchmarks to investor objectives.
> Eliminating market prediction from portfolio design.
> Building the whole portfolio – the sum is greater than the parts.
> Trying to control max drawdown in varying market environments.
3. Manager/strategist replacement decisions – Divorce is expensive
>Identifying the difference between underperformance and out of favor.
>Developing evaluation metrics that match strategy types.
>Creating a framework for decisions to avoid action bias.
4. Improve operational efficiency – Harness the robots
>Automating the automatable – auto-rebalancing examined
>Implementing modifiable portfolios which can adjust potential max drawdown exposure to mirror evolving client needs
5. Distribution planning – Grace under pressure
>Reframing income to equal cash flow.
>Decoupling withdrawal rates from market conditions.

Aug 15 2019 11:00AM

Part 3 - Addressing and remedying investor behavioral challenges

1. Reconciling risk tolerance, risk capacity and risk perception – Who am I?
>Identifying issues with traditional risk profiling.
>Balancing risk tolerance and risk capacity.
>Using risk tolerance to govern client communications.
2. Attempting to Insulate investors from bad investment behavior – Installing guard rails
>Eliminating performance chasing by investors.
>Anchoring portfolio design principles to investor goals.
>Managing client risk perception.
>Creating investor action plans through pre-commitments.
>Learning to recondition investor reactions to market events.

Registration Fee