Each month, the Journal of Financial Planning poses a question online based on the current issue's "10 Questions" interview. Comment on the question and respond to your colleagues' feedback.

Working with Irrationality

In this month's 10 Questions with Dan Ariely, the prominent behavioral finance expert and keynote speaker at FPA Denver 2010, says financial planning clients often defy logical expectations in expressing their desires and in their actions. So do advisers. The behavior may appear irrational, but this is neither intrinsically bad nor good, just another variable one needs to understand and work with.

• What irrational decisions have you made lately in your professional life?
• Did they harm you or your clients?
• What are the most typical kinds of irrational behavior you see in your clients?
• How do you respond to them?

Discuss this and other topics online with your colleagues. Join the discussion at FPA's group site on LinkedIn (member login required).