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The Trust Mandate By Herman Brodie

The Trust Mandate
by Herman Brodie

In Stock
$105.99
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This groundbreaking new book answers to an essential question: why is it that a fund client selects, or an investment consultant recommends, one asset manager over another when the two are, on paper at least, very similar?
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The Trust Mandate Summary


The Trust Mandate: The behavioural science behind how asset managers REALLY win and keep clients by Herman Brodie

This groundbreaking new book answers to an essential question: why is it that a fund client selects, or an investment consultant recommends, one asset manager over another when the two are, on paper at least, very similar? Also, why is it that some asset managers maintain their mandates during difficult periods in the cycle and others don't, even though their performances are identical? Authors Herman Brodie and Klaus Harnack investigated the drivers of these selection decisions and uncovered that so-called 'soft' factors play the primary role - even more so for consultants than for end-clients. They also discovered that these soft factors are essentially the means clients use to judge an asset manager's benevolent intentions, one of the two dimensions of the universal human evaluation more commonly known as trust. Backed by compelling data and research from multiple disciplines, The Trust Mandate breaks open the science of trust for asset managers, revealing the systematic steps clients take in their search for evidence of good intentions - the essential, but often missing, component in business relationships. It also shows how trusted managers are able to win more clients, keep them longer, merit good recommendations, allowed to take more risks, and justify higher fees. The clients of trusted managers enjoy reduced anxiety, earn higher long-run returns, and avoid costly and pointless transitions from firm to firm. So high-trust relationships are a genuine win-win situation. Yet the task of initiating and nurturing them falls squarely on the service provider. Asset managers must learn to convey their good intentions. The Trust Mandate shows why - and how - in unprecedented detail.

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About Herman Brodie


Herman Brodie spent over a decade in investment banking roles in London, Paris and in Frankfurt. In 2000 he co-founded his first company, Cognitrend, a consultancy to advise financial institutions on the utilisation of behavioural finance research. He has pursued this goal since 2013 as Managing Director of Prospecta Limited. Brodie is a co-author and lecturer of 'A Practical History of Financial Markets', a course aimed at investment professionals, developed for the Edinburgh Business School's MBA programme, and has penned numerous articles on behavioural finance. Klaus Harnack received his Ph.D. in social psychology and motivation from the University of Konstanz. He is currently lecturer and academic counsellor for work and organisational psychology at the University of Muenster. Besides his academic work, he provides interdisciplinary knowledge transfer for a wide range of professionals. His utilises psychological insights and strategies to support professionals in their decision-making, negotiation and conflict management skills. He is an author and scientific columnist.

Table of Contents


About the Authors Introduction 1 - What Drives Asset Flows? Follow the money Fly on the wall A detour: can selectors pick top-performing managers? Summary 2 - Soft Factors in Asset Manager Selection Soft factors in flow of funds data Soft factors in survey responses What do selectors want? What do selectors (really) want? Summary 3 - The Role of Trust in Economic Relationships The logic of good intentions The definition of trust Social capital Summary 4 - Types of Trust System trust Role trust Interpersonal trust The interaction between the three types of trust Summary 5 - Warmth and Competence Dual dimensions of impression formation The evolutionary origins of warmth and competence Stereotypes, emotions, and behaviour Warmth and competence in social perceptions In the kingdom of the cold, the lukewarm is king Summary 6 - Lessons from the Most Trusted Professions A worldwide ranking of trust in professions Trust in patient-doctor relationships Money managers should learn from doctors Summary 7 - The Foundations of Interpersonal Trust The love drug Trust by physical cues Trust by social cues Manufactured trust Summary 8 - The Curse of Competence Trust in bankers hits new lows The warmth-competence trade-off A worthwhile trade Stop trying to appear competent Concede competence strategically Detour: A promotional video Summary 9 - Developing Interpersonal Trust Value congruence Caring Vulnerability Psychological distance and trust Trust repair Summary 10 - The Missing 'It' What we found out on the way Annex 1 Trust games Trust around the world

Additional information

GOR009977234
The Trust Mandate: The behavioural science behind how asset managers REALLY win and keep clients by Herman Brodie
Herman Brodie
Used - Very Good
Hardback
Harriman House Publishing
2018-04-09
250
085719643X
9780857196439
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
This is a used book - there is no escaping the fact it has been read by someone else and it will show signs of wear and previous use. Overall we expect it to be in very good condition, but if you are not entirely satisfied please get in touch with us.