The Investment Management Consultants Association announced on Monday that it is introducing a new online behavioral finance program. The program is designed to help advisors address common financial decisions that trip up investors, and will be delivered by noted behavioral finance experts like Dan Ariely and Meir Statman.
Andrew Lo, director of MIT’s Laboratory for Financial Engineering, who was recently named as faculty advisor to another online education program for IMCA through the MIT Sloan School of Management, will also be involved.
The decision to include behavioral finance education was based in part on recent job task analyses for the certified investment management analyst (CIMA) and certified private wealth advisor (CPWA) designations that required IMCA to expand that type of content in its certification programs, according to a press release.
Furthermore, IMCA noted that its members are asking for that kind of education. Eighty-five percent of members surveyed this year said they would be at least somewhat interested in learning about behavioral finance at an advanced level.