Minneapolis Firm Offers Behavioral Advice During Financial Crisis

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The Lennick Aberman Group (LAG), is an expert in the emerging field of behavioral advice, which involves the integration of traditional finance, behavioral finance and neuroscience. LAG offers the following behavioral advice to financial professionals and consumers alike during a time of financial crisis.

The Lennick Aberman Group (LAG), a consulting firm based in Minneapolis, offers the following behavioral advice to financial professionals and consumers alike, "Extreme emotions can often lead to poor decision-making. It's understandable to experience fear, anxiety and uncertainty right now, but it might not be the best time to make a reflexive decision."

"Now more than ever, clients are looking to their advisors for guidance," Doug Lennick, founding partner and CEO, says. "Nobody, including the best financial advisors, can predict what will happen next, but historically, we know that making decisions when charged with emotions can lead to negative results."

A leader in the emerging field of behavioral advice, LAG serves a client list that includes American Express, Ameriprise Financial, Charles Schwab, FNIC, M&I Bank, Thrivent Financial for Lutherans, the Carlson School of Management and the Wharton School of Business.

LAG has established itself as a leading authority in the field of behavioral advice, which involves the integration of traditional finance, behavioral finance and neuroscience. While conventional financial theory predicts that people behave rationally, research has proven that people frequently behave irrationally. Irrational behaviors are often stimulated by extreme emotions, positive or negative.

"The field of neuroscience tells us that when we experience extreme emotions, the physiology of our brain actually restricts rational thought," Lennick says. "When a triggering event occurs, the part of our brain that experiences emotions responds within 12 milliseconds, while the rational part of our brain responds in 40 milliseconds."

"We have all made poor decisions in the heat of the moment. That's part of what makes us human," Rick Aberman, Ph.D. in psychology and co-founder of LAG says. "Learning to recognize our emotions in highly-charged situations will improve our chances of making better decisions."

LAG has conducted behavioral advice workshops for financial advisors across the country, teaching concepts such as moral and emotional competencies.

To help financial advisors better understand their emotions, as well as their clients' emotions, LAG teaches a number of techniques and concepts to improve the decision-making process, including a technique known as the 4 R's.

In brief, when faced with a triggering event, the 4 R's consist of:

1. Recognize... your own experience
2. Reflect... on the big-picture and the long-term, and what you care most about (Values)
3. Reframe... your self-talk to account for biases and avoid quick, reflexive responses
4. Respond... with a decision that is consistent with your principles, values and goals

LAG offers behavioral advice training and coaching for businesses large and small, as well as for individuals and those outside the financial services arena. LAG recently released a Behavioral Advice Self-Assessment tool, featuring a 96-question survey that measures respondents' levels of specific moral and emotional competencies, as well as an action template for development (available in Online Store).

The Lennick Aberman Group is a performance enhancement consulting & products firm with an emphasis on individual, organizational & leadership performance. Based in Minneapolis with partners across the country, the Lennick Aberman Group (LAG) helps individuals achieve sustained optimal performance.

For more information, contact Communications Director, Chris Ambrose at: (612) 333-8791 ext. 40 or e-mail: cambrose @ lennickaberman.com

Lennick Aberman Group Homepage

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Chris Ambrose

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