Course Description

If you have been a practitioner for any length of time, you know that there is often a difference between what clients should do and what they actually do. Have you ever wondered why that is? In this course, we will explore how we make decisions with less-than-perfect information. Through real-life examples and case studies, we will examine common behavioral biases and how to deal with them.

Learning Objectives

  • Recall the difference between the rational economic person concept and behavioral economics

  • Recognize how common information processing and emotional biases affect client financial decisions

  • Identify how standard of living risk affects a practitioner’s methods in dealing with behavioral biases

Additional Required Materials

  • Level: Overview

  • Field of Study: Finance (NASBA); Portfolio development and analysis (CFP)

  • Who Should Attend: CPAs and financial advisors who want to know more about basic behavioral finance biases exhibited by investors

  • Required Knowledge: Basic understanding of client financial needs

  • Advanced Prep: None

Instructor

CPA, CPCU, MST, MBA David Peters

David Peters is the Founder and Owner of Peters Tax Preparation & Consulting in Richmond, VA. He has over fourteen years of experience in financial services, including 3 years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com - a position he held for over three years. He is a national CPE Instructor/Discussion Leader for the AICPA, Surgent, and Kaplan. He regularly teaches courses in accounting, finance, insurance, and ethics throughout the United States. He holds four Masters degrees and contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. He was also a co-author of the 2018 Virginia CPA Ethics course – a required course for all CPA’s licensed in the Commonwealth of Virginia.