Eben Burr - Creating a Client Plan

This week on Standard Deviations with Dr. Daniel Crosby, Dr. Crosby speaks with Eben Burr. Eben Burr is the Managing Director at Toews. Eben is a lecturer and coach of applied behavioral finance as part of the Toews Managing Investor Behavior™ program. He also facilitates communications between the investment management team at Toews and its partners and producing advisors. He holds the Series 7, 65, & 63 licenses. Prior to joining Toews, Eben was the principal of the Burr Tibbs Group, consulting for private equity and high net worth individuals in New York City real estate. Mr. Burr graduated from Oberlin College with a BA in history in 1995, attended architecture school in Paris at L’Ecole Bleue and received a Master’s Degree from Pratt in New York City in 1999. He is currently attending Kansas State University where he is pursuing a graduate certificate to become a Certified Financial Therapist, expanding on his experience to learn to train professionals who want to improve clients’ financial health by integrating relational, behavioral, cognitive and emotional elements with personal finance. He lives in Manhattan with his wife and son.

- In a study that Eben helped conduct, clients were three times as likely to say they are very knowledgable about markets than their advisors were likely to say about them. Men had a similarly outsized response and were three times more likely than women to say they were knowledgable. Are clients overestimating their ability to understand markets or are their advisors not giving them enough credit?

- What can the financial services community do to minimize the delta between who people are and how we see them?

- What is Eben’s take away from men, in general, being more confident in their financial aptitude than women? Are they merely being overconfident?

- Should advisors really work to temper their clients’ expectations of forward returns?

- How can advisors give plans that actually stick and resonate with their clients?

- Is it a financial advisor’s job to be a watch person for financial bubbles?

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Compliance Code: 2276-OAS-8/12/2021