Picture of Gerlinde Berghofer

Gerlinde Berghofer

COO and Co-Founder of BehaviorQuant

Financial Advisory is Being Revolutionized – The Focus: Your Clients’ Personality

In today’s financial advisory landscape, product recommendations, numbers, and statistics alone are no longer enough. Clients expect personalized service that considers their unique personalities. Advisors who truly understand their clients can not only provide more tailored product recommendations but also build trust and long-term relationships.

The Big Five Personality Model, the scientific gold standard in personality research, provides a solid foundation for better understanding client behavior—and offering more targeted advisory services.

The Big Five Personality Model: The Key to Better Client Advisory

The Big Five Model, also known as the O.C.E.A.N Model, defines five fundamental personality dimensions:

  1. Openness to Experience
  2. Conscientiousness
  3. Extraversion
  4. Agreeableness
  5. Neuroticism

Studies show that these dimensions explain up to 30% of the differences in individuals’ risk tolerance. They influence not only how clients make financial decisions but also how they process information and what kind of advisory approach they value.

A precise understanding of your clients’ personalities allows you to not only meet their expectations more effectively but also work more efficiently. Instead of relying on time-consuming trial-and-error approaches, you can use scientifically backed insights to tailor your advisory services right from the start.


The Benefits of Personality-Based Advisory

By incorporating personality traits into your advisory process, you can make your services more individualized, effective, and sustainable. You can:

• Refine risk profiles – Clients with high openness to experience are more willing to invest in innovative financial products
• Personalize communication – Extraverted clients appreciate frequent interactions and detailed explanations
• Tailor recommendations – Conscientious clients prefer conservative, long-term investment strategies

But how exactly can this knowledge be applied in practice?
Let’s explore how different personalities influence financial advisory—and how you can use tailored approaches to serve them more effectively.


Practical Examples: How to Apply Personality Insights in Advisory

(A) Conscientious Clients: Structured Planning for Long-Term Success

A highly conscientious client values planning, structure, and control. They prefer a carefully developed investment strategy with clearly defined goals and minimal risk. These clients benefit from detailed analyses, well-founded explanations, and long-term forecasts.

👉 Practical Example:
A financial advisor, recognizing their client’s high conscientiousness, creates a long-term investment plan with clear milestones. The client receives regular reports documenting their progress, strengthening their confidence in their financial decisions.

(B) Extraverted Clients: Dynamic Advisory and Active Interaction

Extraverted clients are communicative, social, and seek active engagement. They prefer interactive advisory sessions where they can ask questions and discuss new financial opportunities. A passive or purely data-driven approach may not hold their interest.

👉 Practical Example:
A financial advisor notices that their extraverted client enjoys active discussions. Instead of simply presenting numbers and reports, the advisor makes meetings interactive, offering webinars and regular video updates. This keeps the client engaged and involved in the decision-making process.

(C) Clients with High Openness to Experience: Innovative Investment Approaches

Clients with high openness to experience are curious, open-minded, and interested in innovative financial products. They are willing to explore new technologies or alternative investments, such as sustainable funds or cryptocurrencies. A conservative, standard advisory approach would not fully resonate with them.

👉 Practical Example:
A financial advisor recognizes that their client is open to new trends. Instead of only recommending traditional investment options, the advisor presents exciting alternatives that align with the client’s individual risk profile. The client feels understood and is motivated to refine their investment strategy with fresh ideas.


Scientifically Backed: Why Personality Matters

The link between personality traits and financial decision-making is well-supported by scientific research. Understanding personality traits helps you not only grasp your clients’ current goals but also anticipate how they might react to changing life circumstances or market dynamics.

Personality-based advisory is far more than just a trend—it is the future of financial advisory.


How to Implement This in Your Practice

You can integrate scientifically backed personality analysis into your advisory services by:

1. Conducting regular assessments to detect shifts in client preferences early

2. Analyzing personality data to develop targeted recommendations

3. Using tailored software solutions to visualize client profiles and identify long-term trends

If you are wondering how to apply these insights in your daily advisory practice, BQ Advisory offers a proven solution. With data-driven analysis, you gain insights into your clients’ personalities that go beyond conventional methods.


BQ Advisory: The Solution for Financial Advisors

With BQ Advisory, you have a powerful tool to bring the Big Five Personality Model into practice. Data-driven insights enable you to take your advisory services to the next level and provide genuine value to your clients.

→ Understand personalities – for highly personalized advisory
→ Refine risk profiles – for well-founded, future-proof decisions
→ Tailor recommendations – for long-term client satisfaction

The future of financial advisory lies in understanding your clients’ personalities. Use this knowledge to make a decisive difference.

Connect with BehaviorQuant today to explore how their technology can enhance your financial decision-making and investment outcomes.

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