Practitioners need to know what words to use and lose - and be able to apply that knowledge - to improve their conversations with clients about fees, regulations and investment strategies.

A myriad of factors - psychological, emotional, cognitive and behavioural - impact a client’s financial independence during decumulation, demanding different investment solutions.

Individuals live as part of a broader system of interconnected networks and relationships. There are advantages - for you and for them - in thinking about the client as part of a family dynamic.

There is scientific consensus that five major personality traits explain much of the behavioural differences between individuals - linking to financial outcomes, and preferences for advice.

Helping clients is about more than just educating them as to the right decision, it's also about helping them to actually take action.

The way investors respond to the language of financial services can be influenced by using the right words, avoiding others, and structuring messages to overcome skepticism.

This panel, which considered key takeouts from Finology Summit 2019, commenced with an overview of a 2018 global study on how well financial advisers know their clients.

Behavioral diagnostics represent the cutting edge in understanding clients, detecting what clients reveal about themselves through their decisions.

Helping clients is about more than just educating them as to the right decision, it's also about helping them to actually take action.

It is time to align client portfolios with risks they face - requiring a deep understanding and evidence-based approach to uncovering and forecasting client goals.

Persistent earnings revisions ultimately drive share price performance. Understanding and capturing this predictable pattern enhances portfolio returns.

There is evidence to suggest that biases lead to behaviours that can negatively impact Australian investor portfolios.

The complexity of multiple and often conflicting investment objectives is matched by an increased desire to simplify - giving way to some dangerous misinformation.

Stars are celebrated yet funds management is a team pursuit. Behavioural finance tends to focus on individuals' biases, but teams' behaviour determines results.

Emerging markets are full of undiscovered opportunities and hope. Assuming failure may seem a counter-intuitive way to invest, but it is an effective way to avoid behavioural biases.

Every financial adviser has access to the same products and portfolios – we must differentiate our advice value and specialisation, innovate new business models, and focus on the client experience.

We must fully understand a fund’s performance to achieve best practice portfolio construction and recommend client solutions that truly reflect their investment beliefs and avoid unwanted biases.

Helping clients is about more than just educating them as to the right decision, it's also about helping them to actually take action.

The Big Five personality traits offer insights into the behavioural headwinds (or tailwinds) clients might encounter in achieving their financial goals, and the most effective way of dispensing advice to them.

Human beliefs, biases and behaviours are central to the behaviour of financial markets, causing financial and economic instability to persist.