What is Metacognition and how can it boost revenue?
Metacognition, often referred to as “thinking about thinking”, is the awareness of our own cognitive processes.
You may have come across the term. However, if you work in financial services you definitely know what happens in its absence. Clients can make seemingly “self-sabotaging” moves. Perhaps they rush to a premature encashment or hold on to an investment that just isn’t working for way too long. And all despite your firm’s clear, reasoned advice to the contrary.
It’s not that they don’t understand your advice or that they mistrust you. It’s often the raw power of human bias at play. When behavioural biases like Loss Aversion or Recency Bias kick in, logic often walks out of the door.
This is where you need them to dig deeper into what’s really going on.
Our Investor Personality Profiling software acts as that objective, third-party voice. It provides the tools you need to gently, but firmly, discuss potential emotionally driven decisions and pitfalls.
And it makes these challenging conversations easier, less confrontational, and ultimately, more successful for both you and your client.
Bias of the month: Loss Aversion
This month, we’re highlighting Loss Aversion.
This is the tendency to prefer avoiding losses to acquiring equivalent gains, including being influenced by how a transaction is framed (e.g. valuing a “discount” less highly than avoiding a “surcharge”)
Things that make you go “Hmmm”
Loss Averse clients say things like: “Yes, everyone says this investment is in a dying sector. But I cant’ sell now. I want to hang on until it’s worth at least what I paid for it.”
The Wi-Ai approach
Our Investor Personality Profiling tools help you and your client quickly identify which behavioural biases they are most susceptible to.
Understanding the ‘why’ behind an unexpected reaction allows you to start a deeper conversation with clients, online and in person, and personalise future comms.
Human centred tech at your finger tips
Wi-Ai profilers are designed to amplify your superpower: understanding why. By decoding client motivations, you can anticipate concerns, craft communications that truly connect, and strengthen relationships that last.
Let’s make it happen in your business
The tools significantly reduce the time you spend uncovering why your client may feel as they do and free you up to focus on high-value, empathetic client work- or to explore incorporating the profilers into your online systems.
Ready to talk to us? Get in touch the contact page or email [email protected]