How can firm owners use behavioral finance theory to make better business decisions?

Today on Framework, Ana Trujillo Limón, Director, Coaching and Advisor Content, speaks with Julie Ragatz, Ph.D., Vice President, NextGen and Advisor Development Programs at Carson Group, about the practical applications of behavioral finance theory in business and recruitment. They challenge the notion of rational choice theory, emphasizing the subjective nature of human decision-making.

Dr. Ragatz underscores the importance of recognizing individual motivations and the pitfalls of a one-size-fits-all approach in hiring. She advocates for after-action reports to understand decision-making processes and reframes biases as natural, suggesting that behavioral finance can guide the human mind.

Julie discusses:

  • Her role at Carson as the VP of Next Gen
  • Application of behavioral finance theory in business decisions
  • The relevance of the sunk cost fallacy in decision-making
  • Confirmation bias and belief persistence
  • Regaining decision-making confidence
  • Implementing behavioral finance theory to improve recruitment
  • How you can start implementing behavioral finance theory in your practice
  • And more


Connect with Ana Trujillo Limón: 

Connect with Julie Ragatz:

About our Guest: 

Julie Ragatz, Ph.D. is the Vice President, Next Gen and Advisor Development Programs at Carson Group and Executive Director at FinServ Foundation. Julie has just over 23 years of experience in the financial services industry. Julie received her Ph.D. in Philosophy from Temple University after an MA in Social and Political Philosophy from Marquette University.

Send us your questions, we’d love to hear from you! Email us at


Carson Group is committed to advancing financial literacy. Our coaches work with thousands of FPA members. Schedule a consultation to learn how Carson can help you help your clients and grow your business.

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