Even Millionaires Make (Investing) Mistakes (CFP® CE)

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High-net-worth and ultra-high-net-worth investors may have seemingly succeeded when it comes to wealth, but many of these same clients have engaged in what might be called “common” investing mistakes.

In this session, you’ll learn about some of the most common investing “errors” that millionaire investors reported making, how those behaviors align with common cognitive biases such as herd mentality, and how client personality relates to engaging in common investing behaviors.

You’ll leave this session with a way for your firm to a) understand how each client may have the propensity to engage in such behaviors, b) a framework for asking clients about investing-related experiences, and c) a template questionnaire you can use to ask “feeling” questions to head off any investing mistakes.

Learning Objectives:

  1. Describe common investing-related cognitive biases
  2. Identify personality characteristics that relate to engaging in cognitive biases
  3. Measure client personality using observations, tests, and interview questions

*Attendance for the entire live event was required for CFP® CE credit.


Sarah Fallaw



Chris Kopanski

Sr. Product Specialist


“With the DataPoints integration with Wealthbox, advisors can easily add the psychology of financial planning to workflows and communication, thereby personalizing each client interaction based on investor personality, money attitudes, and client money scripts.”

Sarah Stanley Fallaw

Founder & President at DataPoints

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