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Behavioural Finance helps TD advisors identify investing blind spots for clients, including ones as a result of COVID-19

TORONTO, Sept. 2, 2020 /CNW/ - TD Bank Group (TD) and University of Toronto's Behavioural Economics in Action at Rotman (BEAR) research centre today announced a renewed agreement to continue to apply the field of behavioural finance to wealth management. By building on the relationship and leveraging BEAR's expertise, TD Wealth will be able to further examine and understand the psychology of making financial decisions to help clients reach their financial goals.

Behavioural finance is the study of how personality and emotions influence investing decisions. In particular, how financial blind spots – individual and natural personality traits – might influence a person's decision making. TD Wealth applies behavioural finance and the study of personality to help clients better understand themselves and what motivates their financial decision-making.

"Through this incredible collaboration, TD Wealth has been able to harness BEAR's expertise to provide our advisors and planners with the tools and resources they need to uncover how and why clients make financial decisions," said Dave Kelly, SVP & Head of TD Wealth Private Wealth Management and TD Wealth Financial Planning. "It was very evident this year, considering the COVID-19 pandemic, that this deeper understanding of our clients has helped drive more personalized advice and planning conversations, and has helped clients grow their awareness of their financial blind spots and how it could unknowingly influence investment decisions."

The collaboration between TD Wealth and BEAR has allowed TD to deliver a highly differentiated value proposition to clients. Through TD Wealth's Personality Tool, a proprietary technology that allows advisors to identify and assess a client's financial blind spots, advisors are empowered with knowledge about their clients' personalities to direct conversations, help them stay on track with their financial goals and make better decisions.

"We are pleased with the ongoing support from TD Wealth and our continued collaboration in conducting leading-edge behavioral economics research," says Dilip Soman, Director of BEAR, Canada Research Chair in Behavioral Science and Economics and Professor of Marketing, Rotman School, University of Toronto. "This longstanding relationship has allowed BEAR to create agenda setting research in the area of behavioral economics and help TD Wealth fine tune their initiatives which allow us all to become more enlightened investors and advisors."

Explore TD Wealth's first Behavioural Finance Industry Report on wealth personalities. This fall, TD Wealth will release its second report, which explores behavioural risk.

For more information on behavioural finance or the TD Wealth Discovery Tool, please visit This video provides more information about the collaboration with TD Wealth and BEAR.

TD Wealth represents the products and services offered by TD Waterhouse Canada Inc., TD Waterhouse Private Investment Counsel Inc., TD Wealth Private Banking (offered by The Toronto-Dominion Bank) and TD Wealth Private Trust (offered by The Canada Trust Company).

About Rotman
The Rotman School of Management is part of the University of Toronto, a global centre of research and teaching excellence at the heart of Canada's commercial capital. Rotman is a catalyst for transformative learning, insights and public engagement, bringing together diverse views and initiatives around a defining purpose: to create value for business and society. For more information, visit

About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by branches and serves over 26 million customers in three key businesses operating in a number of locations in financial centres around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America's Most Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in TD Ameritrade; and Wholesale Banking, including TD Securities. TD also ranks among the world's leading online financial services firms, with more than 14 million active online and mobile customers. TD had CDN$1.7 trillion in assets on July 31, 2020. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.

SOURCE TD Bank Group

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