The investIQ test is a useful tool that we encourage all new clients to use. It is a great tool to understand your investment personality.
Developed by behavioural scientists, it uses a series of questions. Comprising a mixture of statements, logic and statistics, to help investors identify their investment personality, strengths and weaknesses as well as showing how they compare to others.
It only takes 8-10 minutes and there are no right or wrong answers. The more honestly you respond to the questions, the more accurate a report you will receive.
At the end of the test, you will be provided with a detailed four-page report. This report highlights your particular traits along with advice on how to overcome any that may be detrimental to your decision-making process.
As covered in our recent series of articles, there are nine behavioural traits against which your answers are measured that underpin your investment personality. You are also provided with a score of how prone to each behavioural trait you are. As well as how this compares to the wider universe of people who have taken the test.
There are four possible personality types:
– The Level-Headed Optimist
– The Independent Rider
– The Vigilant Planner
– The Opinion Hunter
The idea of the test is to inform your financial adviser of any biases that may be affecting your financial decision making and to help you make the best possible use of the advice that your financial adviser provides.
If you would like to take the investIQ test, please click here.
If you’d like to book a meeting with one of our Financial Planners click here to get started on your journey with us today.
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