FINANCE AND WEALTH MANAGEMENT
CLIENT
PSYCHOLOGY
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Overview
Technology, regulation, and competition have
radically disrupted financial planning and the
relationship between advisor and client. While
fintech and quantitative forces may increasingly be
involved in the selection of investments, clients still
crave the human hand of a financial advisor who
understands their unique needs and can develop
In Client Psychology, you will:
strategies that are right for them. For planners,
this shift requires new thinking that relies on • Adapt to disruptive change in the financial planning industry by becoming
better understanding a client’s psyche, improving more client-centered.
communication, and focusing on stronger long- • Articulate how better knowledge of client biases, behaviors, and perceptions
term relationships. can help you build deeper, long-lasting customer relationships.
• Gain skills that will help your clients achieve better outcomes by
Client Psychology aims to help financial advisors understanding their needs and preferences and helping them cope with life
develop a more effective client-centered practice events and market volatility.
by drawing heavily on advances in psychology,
• Study with the renowned Wharton finance faculty, leading scholars from a
behavioral finance, evidence-based decision
variety of academic disciplines, and CFP® professionals to gain day-to-day
making, and the human sciences to better practical skills to serve and grow your client base.
understand the biases, behaviors, and perceptions
that impact client decision making and financial • Improve your communication skills with a stronger grasp of how client
psychology can guide clients toward better decisions.
well-being.
• Develop new insights into how to adapt to a changing population and a surge
in millennial clients with different views on elements of financial planning.
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CLIENT PSYCHOLOGY
Highlights and This first-of-its-kind program consists of synchronous and asynchronous modules
covering a range of content. Through insights based on rigorous research,
Key Outcomes
experience, and interaction, participants will not only learn from thought leaders
but develop new methods for communicating with clients, helping them achieve
their goals, deal with potential financial stress and hardships, and make key
decisions. This specially developed course takes an interdisciplinary approach that
draws on the latest breakthroughs in behavioral finance, psychology, therapy and
Client Psychology combines the power of top
counseling, and even neuroscience.
finance experts from Wharton with the experience
and know-how of the Certified Financial Planner The academic study of client psychology is a burgeoning field, which merges
Board—which certifies and set standards for traditional financial knowledge with an understanding of best practices from
81,000 professionals—and its Center for Financial aspects of finance, financial planning, and a variety of the human sciences. The
Planning. The lead faculty in the program are course will focus heavily on how practitioners can hone their skills in client
Dr. Christopher Geczy, the academic director of communication through observation, exercises, and even role playing. The goal
the Wharton Wealth Management Initiative and is for financial planners and advisors to gain both the know-how and the tools to
the Jacobs Levy Equity Management Center for refocus their practice to emphasize the client, thus achieving better results and
Quantitative Financial Research, and Dr. Charles building life-long relationships. Participants will learn how to relate better to a
R. Chaffin, the director of academic initiatives and fast-changing client population and gain cutting-edge tools to build closer bonds
programs for the CFP Board and author of the with clients and ultimately deliver better outcomes.
recently published book Client Psychology.
Session topics include:
• Resilience and Optimism
• Persuasion and Influence
• Risk Aversion and Client Personality
• Future Self
• Self-Efficacy and Reflective Practice
• Client Behavior and Decision Making
• The Challenges to Evidence-Based Decision Making
• Understanding Client Communication Styles
• Heuristics and Biases
• Building Relationships Through Neuroscience
• Elements of Clinical Psychology Including Spending,
Saving, and Money Disorders
• Expert Perspectives
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CLIENT PSYCHOLOGY
Participant Profile
This program is designed broadly for any
professional who advises clients on investments,
insurances, or other aspects of financial planning.
Faculty looking to better prepare their students to
enter the profession would benefit greatly from
this new and growing interdisciplinary topic. The
insights into understanding client psychology,
improving communication with investors,
planning subjects, and achieving better outcomes
will be valuable for a wide range of potential
attendees, including:
• CFP® professionals and those on their way to
obtaining CFP certification
• Financial planners working within a variety of
client-centered business models
• Investment advisors, brokers, and counselors
• Any investment professional with a “Know
Your Client” role
• Professionals in accounting, insurance, or
related fields
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CLIENT PSYCHOLOGY
Wharton LIVE Building Your Network
The Client Psychology program will also include multiple opportunities
Programming for you to get to know the other participants and build your professional
network. These sessions include:
Real-time peer learning with deep faculty Pulse of the Market: Q&A Networking Forum
engagement and global networking During these sessions, faculty will examine and discuss the most promising
opportunities and most significant challenges participants’ organizations
are facing. Participants act as a sounding board while simultaneously
The live online version of Client Psychology is identifying the commonalities that connect the issues across organizations.
a month-long program that will be delivered
online and taught by the same Wharton and Wharton After Hours
CFP faculty who teach in the on-campus Wharton and CFP faculty will lead an online discussion board that moves
program. The sessions are structured with both beyond the day’s content into global current events. Think of it as faculty
synchronous and asynchronous components, office hours but online.
running Tuesday and Thursday, to allow for
continuous interaction and Q&A pertaining to all
aspects of client interaction and relationships.
Participants will have direct access to Wharton CE Credit
and CFP faculty throughout the program and Client Psychology qualifies for 21.5 credit hours of
engage in dynamic group exercises that help continuing education by the CFP Board. If you are a
reinforce the learning and enable networking CFP® professional, credit for your participation in this program will
among the peer community. Application work be automatically recorded after you have successfully completed this
will set the foundation for faculty-led discussions program. Please provide your CFP member number in the required
where participants will pressure test assumptions field on the program application.
from the past and plan for the future.
This online program is a fully immersive and
structured learning experience that culminates
with a new set of knowledge and tools that can be
put to immediate use. Participants must complete
all four weeks of content to receive CE credit.
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CLIENT PSYCHOLOGY
Faculty
Chris Geczy, PhD
Co-Academic Director
Adjunct Professor of Finance; Academic Director, Wharton Wealth
Management Initiative; Academic Director, Jacobs Levy Equity
Management Center for Quantitative Financial Research,
The Wharton School
Chris Geczy has been on the Finance the School’s first survey course in sustainable/
Department faculty at the Wharton School of ESG investing. Chris has been the academic
the University of Pennsylvania since 1997. He director of a number of Wharton Executive
is academic director of the Jacobs Levy Equity Education programs, including the 2009
Management Center for Quantitative Financial Securities Industry Institute in partnership
Research. He is also academic director of the with SIFMA, the Private Wealth Management
Wharton Wealth Management Initiative at program in partnership with the CFA Institute,
Wharton Executive Education. He has a BA in and programs for the Investments and Wealth
economics from the University of Pennsylvania Institute (formerly IMCA). In addition, he has
and a PhD in finance and econometrics from the taught investment management in the Penn-
Graduate School of Business at the University of Securities Association of China (Penn-SAC)
Chicago (now the Booth School). program for a number of years. In a previous
role, he taught AIMR/CFA Institute-accredited
Professor Geczy regularly teaches investment
professional risk management courses.
management and co-created the first full course
on hedge funds at Wharton. He has created and
taught multiple courses at Wharton, including
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CLIENT PSYCHOLOGY
Faculty
Charles R. Chaffin, EdD
Co-Academic Director
Director of Academic Programs
and Initiatives, CFP Board
Charles Chaffin is the director of Academic
Initiatives with the CFP Board Center for
Financial Planning, including the Academic
Research Colloquium; founding executive
editor of the new academic journal Financial
Planning Review; editor of the CFP Board Center
for Financial Planning book series; and the
program lead of the Columbia University-CFP
Board Teaching Program. He is the lead author
and editor of the book Client Psychology,
released in 2018. He holds a master’s degree
from the University of Michigan and a
doctorate from the University of Illinois at
Urbana-Champaign.
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CLIENT PSYCHOLOGY
Client Psychology
sample program schedule* LIVE ONLINE
MODULE 1 Wharton LIVE Programming - Week 1
virtual kickoff pre-recorded sessions open one week prior
1.5 – 2 weeks prior Day 1 Day 2
Program Welcome Program Reintroduction and Building Your Network Client Behavior and Decision Making
Group Introductions
1:00–1:15
Psychology of the Investor
11:00–12:00 1:00–2:00
Coffee Talk and Networking with
Dr. Niedermeier (optional)
1:15–2:15
Final Wrap-Up and Q&A
2:00–2:30
2:15–2:30
wharton after hours (tuesday–thursday)
networking discussion board on canvas
SCHEDULE A CONSULTATION:
+1.215.898.1776 (worldwide) | execed@[Link]
[Link]
*Program start and end times are subject to change.
CP-CFPB-0321
Client Psychology
sample program schedule* LIVE ONLINE
Wharton LIVE Programming - Week 2
pre-recorded sessions open one week prior
Day 3 Day 4
Weekly Kickoff Understanding You and Your Clients’ Communication Styles
1:00–1:15
Identifying and Dealing with Client Emotion and Behavior
1:00–2:00
Coffee Talk and Networking with Dr. Eylon (optional)
1:15–2:15
Final Wrap-Up and Q&A
2:00–2:30
2:15–2:30
wharton after hours (tuesday–thursday)
networking discussion board on canvas
SCHEDULE A CONSULTATION:
+1.215.898.1776 (worldwide) | execed@[Link]
[Link]
*Program start and end times are subject to change.
CP-CFPB-0321
Client Psychology
sample program schedule* LIVE ONLINE
Wharton LIVE Programming - Week 3
Day 5 Day 6
Resilience and Optimism: Strategies for Navigating Adversity and Enhancing no class - holiday
Well-Being (Pre-recorded lecture. No live discussion.)
1:15–2:15
SCHEDULE A CONSULTATION:
+1.215.898.1776 (worldwide) | execed@[Link]
[Link]
*Program start and end times are subject to change.
CP-CFPB-0321
Client Psychology
sample program schedule* LIVE ONLINE
Wharton LIVE Programming - Week 4
pre-recorded sessions open one week prior
Day 7 Day 8
Daily Kickoff Creative Persuasion
1:00–1:15
Problematic Financial Behaviors
1:00–2:00
Taking the Program Home
1:15–2:15
Coffee Talk and Networking with Dr. Klontz (optional)
2:00–2:30
thank you for your attendance
2:15–2:45
wharton after hours (tuesday–thursday)
networking discussion board on canvas
SCHEDULE A CONSULTATION:
+1.215.898.1776 (worldwide) | execed@[Link]
[Link]
*Program start and end times are subject to change.
CP-CFPB-0321
