Nick and I have just returned from a fabulous two days at the CISI (Chartered Institute for Securities & Investment) Annual Conference in Surrey.
Whilst involving a fair bit of travel (and late nights!) we always come away from this two-day retreat inspired and energised to do more.
This year’s conference was no exception, and it brought forth a star attraction that was not a financial wizard or AI tech guru… but a chimp!
The Unusual Star of the Show
Yes, you’ve read that correctly – a chimp.
It’ll probably make more sense if you have heard of Dr Steve Peters and his book ‘The Chimp Paradox‘.
Whilst a renowned clinical psychologist and someone who works with sports stars such as the cyclist Chris Hoy and snooker player Ronnie O’Sullivan, Dr Peters humorously explained how the human brain works and how our ‘inner’ chimp, if not managed, can often trip us up.
The Inner Chimp
This inner chimp represents our primal, emotional, and often irrational side. It’s the part of our brain that can lead us astray if not managed effectively. The Chimp Paradox theory is that by understanding and managing our inner chimp, we can make better decisions and ultimately achieve greater success in our professional and personal lives.
As a client of Brett Investment, you already know that proper financial planning is not just about numbers; it’s also massively about understanding human behaviour and emotions.
Dr. Peters insights (I am already reading his book) has helped Nick and I understand ourselves better but hopefully over time it is something we can apply to our client relationships.
As human beings we all know that emotions can cloud our judgement, especially at times like these when investment markets have been travelling sideways for quite some time.
The reality of the investment world can of course be stressful, and stress can trigger our inner chimp. Learning how to manage this stress and our emotional responses is essential for making sound financial decisions, whether you’re a financial planner or a client.
Our job is to help you better navigate these emotional waters. The investment landscape is constantly ebbing and flowing, just like our inner thoughts and emotions. Whilst markets will always work in ways that will disappoint us at times (this risk is why markets provide us with extra long-term returns), by understanding and managing our inner chimps, together we can make better choices which ultimately will help you achieve greater success for your financial planning and the life you choose to lead.