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See Innovation From Our Behavior Team at MIC

Advisors are offered tips are how to handle clients, especially during volatility.

Gain access to the Morningstar Investment Conference on-demand to hear more from Samantha Lamas and Steve Wendel.

Steve Wendel: Hey everybody. I am Steve Wendel, head of behavioral science here at Morningstar. I'm joined by Sam Lamas, who's one of our key researchers in the behavioral team. We want to tell you about our session at the Morningstar Investment Conference. 

What are you most excited about for our session and for the conference overall?

Samantha Lamas: Sure. Well, for our session in particular, I'm really excited to share some of our upcoming research--our latest research, upcoming research, and some of the latest behavioral products that our team has been working on that are coming out sometime soon.

Wendel: Excellent. Now I seem to remember there's a download that over 10,000 advisors have already gotten. Can you tell us about that?

Lamas: Yeah, sure. We created a guide for advisors to help investors work through thee volatility and craziness that's going on right now. In the guide, we give advice both for investors and advice just to prepare for volatility, which is also always a good idea. Then we also gave people advice on how to deal with volatility in the moment--so when clients are panicking and on the phone with you and need advice then and there.

Wendel: Excellent. Excellent. And you did this, right, during the first part of the downturn, right, in March?

Lamas: Yes. That's when we released a paper--or released the guide. It's made for investors during volatility, during times of panic, and then in the presentation--because when we recorded the session, things were a bit calmer--we emphasize the need to prepare for volatility, but nonetheless, it's great advice to use now, later in the future, et cetera.

Wendel: Excellent. Tell me a bit about those tools you mentioned in addition to the guide that people can download.

Lamas: One of our latest tools is focused on understanding an investor's biases and their own personal biases. We all have biases, of course, but it's all to different levels. Some people on our team developed a tool to help diagnose investors and see what biases they personally struggle with and how you can help them overcome it.

Wendel: Excellent. Now, where can people learn more?

Lamas: We actually are featuring it in our Innovation Lab. So, please check out the Innovation Lab. Give us your feedback. We would love to hear your thoughts.

Wendel: Great. So you can check out the tools, the new tools from behavioral science team at the innovation area of the conference. And of course, check out our session to learn about our research and particularly this practical guide to help financial professionals during market volatility. Thank you very much. Thank you, Sam.

Lamas: Thank you.