FutureProof Advisor Podcast

Your Brain is Playing Tricks on You


Listen Later

Our minds often deceive us, shaping our perceptions in ways we don’t realize. Cognitive biases influence decision-making, memory, and our ability to adapt. By understanding these mental traps, we can sharpen our thinking, make better decisions, and foster deeper connections with clients.

One common bias is the Texas Sharpshooter Fallacy—the tendency to find patterns that fit our narratives, even when they don’t exist. This can lead to flawed decision-making and misplaced confidence in trends that may be purely coincidental. Similarly, normalcy bias keeps us anchored to what feels familiar, making it harder to recognize and respond to change effectively. There’s also the argument from authority, where we often accept expert opinions without questioning their validity. And finally, the misinformation effect distorts our memories over time, making them unreliable guides for decision-making.

To counteract these biases, structured decision-making, real-time documentation, and intentional skepticism are key. Establishing clear processes helps us navigate uncertainty with confidence. Journaling or recording key observations preserves unaltered insights, reducing the risk of hindsight bias. And actively questioning authoritative claims ensures well-rounded, independent thinking. By recognizing these cognitive pitfalls, we can future-proof our decision-making and better serve our clients.

...more
View all episodesView all episodes
Download on the App Store

FutureProof Advisor PodcastBy Matt Reiner

  • 4.7
  • 4.7
  • 4.7
  • 4.7
  • 4.7

4.7

13 ratings


More shows like FutureProof Advisor Podcast

View all
Acquired by Ben Gilbert and David Rosenthal

Acquired

4,823 Listeners

Founders by David Senra

Founders

2,191 Listeners

Up First from NPR by NPR

Up First from NPR

56,906 Listeners

The Perfect RIA by Matthew Jarvis, CFP® & Micah Shilanski, CFP®

The Perfect RIA

463 Listeners

Kitces and Carl - Real Talk for Real Financial Advisors by Michael Kitces, MSFS, MTAX, CFP and Carl Richards, CFP

Kitces and Carl - Real Talk for Real Financial Advisors

244 Listeners

Barron's Advisor by Barron's Advisor

Barron's Advisor

113 Listeners

The Efficient Advisor: Tactical Business Advice for Financial Planners by Libby Greiwe

The Efficient Advisor: Tactical Business Advice for Financial Planners

133 Listeners