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Artwork for The Behavioral Divide

The Behavioral Divide with Hal Hershfield

Avantis Investors
Decision Making
Financial Decision Making
Negotiation
Uncertainty
Behavioral Finance
Financial Advice
Financial Literacy
Financial Advisors
Elegant Trades
Investment Advice
Personality Traits
Mortgages
Financial Constraints
Yale School Of Management
Prime Capital Investment Advisors
Empty Nesters
Retirement Readiness
Financial Advisory
Risk Communication
Communication

Financial decisions are endlessly complicated. There’s a huge body of academic literature that tries to study them to look for answers on how to improve decision making while a broad industry of financial advisors also work with investors every day on decisions that affect their financial futures. But there exists a divide between the two. On The Behavioral Divide, presented by Avantis Investors®,... more

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Artwork for The Behavioral Divide

Latest Episodes

In Part 1 of our Beyond the Math miniseries, we spoke about the challenges investors can face with decumulation in retirement. In Part 3, we dig into a tool often proposed to help: annuities.

On this episode of The Behavioral Divide presented by Ava... more

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For many, buying a home is the largest investment they’ll make, so it stands to reason that the decisions we make with mortgage loans matter. Yet, there are several persistent, predictable “mistakes” that are observed with mortgages.

On this episode... more

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On the surface, many financial decisions may appear as simple math problems, but the numbers alone don’t always provide the “right” answer for everyone. One domain this applies is an investor’s decumulation phase—the period where our focus is no long... more

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Risk can be complicated. One client’s views on risk might vary quite a lot from another. Just the same, one’s feelings about risk can vary from today versus next year. Advisors often aim to uncover client attitudes toward risk through questionnaires,... more

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Recent Guests

Eric Johnson
Professor at Columbia Business School, Norman Ag Chair of Business
Columbia Business School
Episode: Beyond the Math, Part 2: The “Fascinating History” and Psychology Behind Mortgages
Debbie Grose
CEO of Lake Tahoe Wealth Management
Lake Tahoe Wealth Management
Episode: Beyond the Math, Part 2: The “Fascinating History” and Psychology Behind Mortgages
Suzanne Shu
John S. Dyson Professor in Marketing at Cornell University, expert in decumulation and Social Security decisions
Cornell University
Episode: Beyond the Math, Part 1: The Psychology of Decumulation and Social Security Claiming
Taylor Schulte
Founder and CEO of Define Financial
Define Financial
Episode: Beyond the Math, Part 1: The Psychology of Decumulation and Social Security Claiming
Terry Odean
Rudd Family Foundation Professor of Finance, Berkeley Haas
Berkeley Haas School of Business
Episode: Risk and Reality: What the Research Says (and What Clients Do)
Jennifer Baick
Leads the financial planning group
Mercer Advisors
Episode: Risk and Reality: What the Research Says (and What Clients Do)
James Choi
Professor of Finance at the Yale School of Management
Yale School of Management
Episode: What the Academics Say Personal Finance Gurus (and Financial Advisors) Are Getting Wrong
Katy Milkman
James G. Dynan Professor at The Wharton School, University of Pennsylvania; co-founder of The Behavioral Change for Good Initiative; host of Choiceology; author of How to Change
The Wharton School, University of Pennsylvania
Episode: How to Help Others Change Their Behavior (Without Pushing Too Hard)
Tiffany Rosetti
Financial advisor and senior vice president at Wealth Enhancement
Wealth Enhancement
Episode: How to Help Others Change Their Behavior (Without Pushing Too Hard)

Host

Hal Hershfield
Professor and host of The Behavioral Divide (focus on decision making, behavioral finance, and communication between academics and practitioners).

Reviews

5.0 out of 5 stars from 51 ratings
  • Insightful and practical

    The podcast is a great blend if behavioral science and finance. The episode with Wendy Wood on the science of habits really stood out - it made me think differently about why routines are so hard to change. Every episode offers practical takeaways for improving financial decisions and overall well-being. Highly recommend!

    Apple Podcasts
    5
    Elizabeth_Toth
    Netherlands10 months ago
  • Incredible host and insights

    This is a great podcast that breaks down the human mind and its associations with money. Hal breaks down financial literacy and the basics of human psychology in an easy to understand way. Keep the good was coming!

    Apple Podcasts
    5
    LaughAllDayLong
    United States3 years ago
  • Excellent

    Very insightful

    Apple Podcasts
    5
    Loser hater
    United States3 years ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Insightful and practical content that blends behavioral science with finance and offers actionable takeaways.
High-quality guests and practical insights on decision making and financial behavior.
The host delivers clear explanations of complex ideas and makes psychology relevant to money decisions.

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Apple Podcasts
#148
Denmark/Business/Investing

Talking Points

Recent interactions between the hosts and their guests.

What the Academics Say Personal Finance Gurus (and Financial Advisors) Are Getting Wrong
Q: What is one major unanswered question in personal finance that advisors still grapple with?
How should housing influence asset allocation and whether to pay down a mortgage versus investing cash, two large decisions with uncertain effects on overall risk and return.
What the Academics Say Personal Finance Gurus (and Financial Advisors) Are Getting Wrong
Q: How does human capital change the recommended asset allocation?
Human capital can be treated as a large, uncorrelated bond in a portfolio, allowing for substantially higher stock exposure earlier in a career because future income provides a cushion if financial markets underperform.
What the Academics Say Personal Finance Gurus (and Financial Advisors) Are Getting Wrong
Q: What are the biggest differences between popular books and academic guidance on personal finance?
The primary divergence is in execution philosophy: academics assume a plan is formed and carried out, while popular gurus push concrete behavioral prescriptions that may ignore how people actually behave and how future human capital affects risk tolerance.
How to Help Others Change Their Behavior (Without Pushing Too Hard)
Q: How can advisors structure commitments to improve follow-through?
Leverage explicit deadlines, pre-commitment devices, and social accountability (e.g., involve family or schedule meetings with consequences) to reduce procrastination and boost completion rates.
How to Help Others Change Their Behavior (Without Pushing Too Hard)
Q: What is a practical way to introduce change to clients without triggering resistance?
Use early, non-pressurized conversations to understand client values, then introduce change concepts through reframing and fresh-start timing to reduce perceived threat and increase motivation.

Audience Metrics

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Frequently Asked Questions About The Behavioral Divide

What is The Behavioral Divide about and what kind of topics does it cover?

A show focused on how psychology, behavioral science, and financial decision-making intersect, with practical takeaways for investors and advisors. Episodes frequently explore decision quality versus outcomes, risk and uncertainty, effective communication with clients, and how personality, numeracy, and cognitive biases shape financial behavior. Noteworthy are distinguished academics and seasoned practitioners who translate theory into actionable strategies for clients, making complex ideas accessible for a professional audience. The program often features rigorous research discussions alongside real-world advisory experience, offering thoughtful perspectives valuable to both finance professionals and informed listeners interested in decisi... more

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Which podcasts are similar to The Behavioral Divide?

These podcasts share a similar audience with The Behavioral Divide:

1. Money Matters by Allworth Financial
2. Bogleheads On Investing Podcast
3. The Long View
4. The Rational Reminder Podcast
5. Sound Investing

How many episodes of The Behavioral Divide are there?

The Behavioral Divide launched 3 years ago and published 22 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on The Behavioral Divide?

Recent guests on The Behavioral Divide include:

1. Eric Johnson
2. Debbie Grose
3. Suzanne Shu
4. Taylor Schulte
5. Terry Odean
6. Jennifer Baick
7. James Choi
8. Katy Milkman

To view more recent guests and their details, simply upgrade your Rephonic account. You'll also get access to a typical guest profile to help you decide if the show is worth pitching.

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