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Practical Application of Behavioral Finance for Financial Advisors

Tony Davidow, CIMA and author of Goals-Based Investing interviews John Nersesian, CFP, CIMA, CPWA, CIS and Head of Advisor Education for PIMCO.

By John Nersesian May 13, 2026

Goals-Based InvestingWorking With an Adviser
John Nersesian Tony Davidow CIMA® — President & Founder, T. Davidow Consulting, LLC
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Key Takeaways

  • Use goals-based investing to compartmentalize financial objectives by time horizon and risk profile—this 'immunizes' short-term needs and allows clients to maintain discipline during market downturns
  • Ask specific behavioral questions like 'What's more upsetting: abandoning a winning strategy or staying with one that falls?' to uncover emotional risk tolerance, not just financial profiles
  • Frame volatility and market downturns as rebalancing opportunities rather than threats; educate clients upfront that markets decline cyclically so they won't be surprised into poor decisions
  • Establish a predetermined investment framework (IPS, financial plan, or asset allocation) to serve as a guideline that keeps clients disciplined during emotional market periods
  • Position your core value proposition around behavioral coaching and emotional discipline—most of an advisor's quantifiable value comes from preventing costly emotional decisions, not from investment selection alone

Practical Application of Behavioral Finance for Financial Advisors: Tony Davidow, CIMA and author of Goals-Based Investing interviews John Nersesian, CFP, CIMA, CPWA, CIS and Head of Advisor Education for PIMCO. Watch more Tony Davidow and other financial advisor videos from finStream’s Financial Advisor Center at this link: https://www.finstream.tv/videos/financial-advisor-center/

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