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| Type | Master's Thesis |
| Scope | Discipline-based scholarship |
| Title | Behavioural Finance in Wealth Management |
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| Institution | University of Zurich |
| Faculty | Faculty of Economics, Business Administration and Information Technology |
| Number of Pages | 112 |
| Date | 2013 |
| Abstract Text | Based on structured behavioural finance framework, this thesis gives a well-founded overview of the major impacts of human psychology and behaviour on investment decisions, market anomalies and consequences on the wealth management process. The research sheds light on level of implementation of behavioural finance aspects in wealth management practice as well as the ability of behavioural finance insights to generate excess performance in the fund market by adaptation of its concepts to market analysis. By this approach the paper shows the potential and limitations of behavioural finance in modern investing and wealth management. Based on the findings of both qualitative surveys and interview as well as quantitative analysis of behavioural fund performances, the thesis concludes that behavioural finance, despite its academic importance, is not widely applied in wealth management and does not succeed to implement investment strategies that allow outperformance of the market on a expense and risk adjusted level. |
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