Back to Investments & Wealth Forum - Toronto 2022

Herman Brodie

Founding Director, Prospecta Limited, Lecturer, University of Edinburgh

The Trust Mandate

Why is it that a client selects one asset manager over another when the two are, on paper at least, very similar? The Trust Mandate is an investigation into the drivers of selection and retention decisions. It uncovered that so-called ‘soft’ factors play the primary role – as much as eight times the weight of ‘past performance'. The book also uncovered that soft factors are essentially the means clients use to judge the manager’s benevolent intentions, one of the two dimensions of the universal human evaluation more commonly known as 'trust.'

Women in Wealth Panel: Who Do We Trust and Why?

Join Herman Brodie, author, University of Edinburgh lecturer and Founder & CEO, Prospecta Limited, as he moderates this Women in Wealth Panel at the Investments & Wealth Forum – Toronto. As the author of The Trust Mandate, the behavioural science behind how asset managers REALLY win and keep clients, Brodie will moderate the panel of female business leaders as they discuss building and maintaining trust as a financial advisor.

Through the research his book was based on, Brodie found that the willingness to trust is driven by two fundamental evaluations we make about the other person: 1.) is about the other’s competence, namely their ability to make good things happen; 2.) is about their benevolence, namely, their motivation to make good things happen for us. Only those who score highly on those two dimensions are truly trusted. As a financial advisor learn what you can do to influence clients' trust.

Biography

Herman Brodie is the founding director of Prospecta Limited. He is a specialist in behavioral economics, an accomplished speaker and a trainer of decision-makers. Brodie is the author of The Trust Mandate: The behavioural science behind how asset managers REALLY win and keep clients (2018, Harriman House). He also co-wrote and teaches the professional investment course, A Practical History of Financial Markets.

 

 

 

      

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