Jonathan Blau is the founder and Chief Executive Officer of Fusion Family Wealth, a Long Island-based, fee-only, registered investment advisory firm. His investment philosophy is centered on helping shape positive money behavior and by teaching wealthy people to consistently make rational financial decisions under uncertainty.
As an industry thought leader in behavioral finance – helping investors learn to make rational money decisions under conditions of uncertainty – Mr. Blau helps clients thrive by helping them identify biases that drive poor money decisions and then helping to modify their “money” behavior.

Listen to this informative Legacy Leaders episode with Jonathan Blau about biases in financial decision-making.

Here is what to expect on this week’s show:
● Jonathan explains diagnosing biases is crucial in educating clients about their financial decisions. He approaches his practice like a doctor, aiming to diagnose and prescribe solutions for biases that lead to poor decisions.
● According to Jonathan, currency is a unit of exchange for efficient transactions, while money represents purchasing power. Many people mistakenly believe that preserving a certain amount of currency units ensures financial security, but inflation causes the value of currency to decrease over time.
● Jonathan challenges the notion that risk is solely defined by volatility, instead defining it as the chance of losing one’s last dollar before their last heartbeat. He argues that asset allocation, which involves diversifying investments between stocks and bonds, freezes the purchasing power of every dollar and ultimately hinders wealth accumulation.
● Jonathan suggests that successful wealth management relies more on temperament and rational decision-making under uncertainty, rather than solely on intellect or predictions. He emphasizes the importance of educating clients about the reality of financial markets and helping them overcome their fears and beliefs about potential losses.

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With your Hosts: Stan Miller
Stan Miller is the CEO of Pinnacle Legacy Law, an estate planning firm in Arkansas. He is passionate about helping families with customized estate planning solutions. Stan is known for his exceptional listening skills and ability to explain complex concepts in simple terms. He was an early pioneer of Living Trust planning in Arkansas and has established over 5,000 Living Trusts, safeguarding assets worth more than $4.5 billion. Stan is also a national leader in Estate Planning, having co-founded WealthCounsel and ElderCounsel, prominent organizations providing education and software for attorneys in the field. His latest book, “Your American Legacy: Powerful Strategies That Instill Lasting Values for Generations,” became an International bestseller in April.

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Katie Beth Hand
Katie is the Legacy Director of Pinnacle Legacy Law, and She is training leaders, protecting families, preserving wealth, and building legacies that last for generations.

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Jonathan Blau: Identifying Biases for Financial Decision-Making

When it comes to making important financial decisions, it’s crucial to be aware of the biases that can cloud our judgment. Jonathan Blau, a behavioral finance expert, has dedicated his career to studying and identifying these biases in order to help individuals make more informed choices when it comes to their money.

Blau has a background in finance and psychology, which has uniquely positioned him to understand the intersection of human behavior and financial decision-making. He has conducted extensive research on the various biases that can impact our financial choices, and has developed strategies to overcome them.

One of the most common biases that Blau has focused on is confirmation bias, which is the tendency to seek out information that supports our preconceived notions while ignoring evidence that contradicts them. This can be particularly detrimental when it comes to financial decisions, as it can lead individuals to make choices based on flawed or limited information.

Blau has also studied the impact of loss aversion, which is the tendency to prefer avoiding losses over acquiring gains. This bias can lead individuals to make overly conservative financial choices, and can prevent them from taking necessary risks that could ultimately benefit them in the long run.

Another bias that Blau has explored is the anchoring effect, which is the tendency to rely too heavily on the first piece of information that we receive when making decisions. This can lead to individuals making decisions based on arbitrary numbers or values, rather than considering the full range of options available to them.

In addition to identifying these biases, Blau has also developed practical strategies to help individuals overcome them in their financial decision-making. This includes techniques such as actively seeking out diverse perspectives, conducting thorough research, and actively challenging our preconceived notions.

Blau’s work has been instrumental in helping individuals and organizations make more rational and informed financial choices. By understanding and addressing the biases that can impact our decision-making, we can work towards building a more secure and prosperous financial future.

In conclusion, Jonathan Blau’s expertise in behavioral finance has shed light on the various biases that can impact our financial decision-making. By studying these biases and developing strategies to overcome them, Blau has made significant contributions to the field, and has helped individuals make more prudent and informed choices when it comes to their money. It’s clear that his work will continue to have a lasting impact in the realm of financial decision-making for years to come.