+ What is the ABFP℠ designation?
The Accredited Behavioral Finance Professional℠ or ABFP℠ is the first advisor-focused behavioral financial designation from an accredited college or university. The education was developed to enhance advisors' emotional competencies, client interactions, and financial planning advice through a thorough understanding of psychological explanations for economic behavior and hands-on practice of knowledge. It teaches issue recognition and communication skills to be used when advising others.
Kaplan's website features a video filmed by Benjamin Haas on his experience with the ABFP℠ program. (Watch the video here) Ben is a recent college graduate of the College's Accredited Behavioral Finance Professional℠ program and shares how knowledge and skills in behavioral finance helps financial advisors become better in effectively counseling clients. Ben recognized that he needed to develop the skills to understand money behaviors through our clients' eyes and to communicate our advice in a way that led to action. We believe it's important for financial professionals to be trained in recognizing biases or fractured decision-making patterns and be ready to counsel when called up.
Ben uses his knowledge gained from the ABFP℠ curriculum to get better at asking questions and listening more attentively to responses. He believes it's helped him be more vulnerable, authentic, and empathetic. We believe in lifelong learning as one of our core values. Because of this, Ben continues to hone his communication skills by participating in various study groups focusing on psychology, human nature, and the art of questions. To learn more about behavioral finance, check out these resources: