Peter,
Thank you for your remarks and link to some further sources.

What we try to achieve is to increase the general Financial Literacy
level of the South African public,help investors to understand
the "YOU" in your money and to help advisors according to the new
FAIS Bill (Financial Advisory and Intermediary Services Bill).

While financial planners are trained to carefully review all aspects
of their clients' financial situation, they don't always
consider how clients' investment personalities can influence the
success of their financial plans.

By learning about investment personalities, advisors can help clients
to make decisions that will not only provide financial reward but
emotional stability.Clients feel more secure and comfortable
with advisors that consider their personalities, needs, and concerns.
Instead of viewing financial planning as necessary drudgery, clients
can get excited about the possibility of achieving their financial
goals with comfort and peace of mind.

By making clients aware of their own financial and
psychological needs, advisors make it easier for them to accept and
act on a financial plan. Without this knowledge, clients often
don't actin their own best interest. Relying on unconscious
beliefs and life-long habits to guide their actions, they don't
take conscious control of their money.

Money Personality Profile - The Nine Money Personalities

A classification produced by Kathleen Gurney of the Financial
Psychology Corporation that stresses money style and how individuals
react emotionally to financial decisions. The nine distinct
personality groups identified are developed from her research
concerning why people earn, spend, save and invest the way they do.
It is a general financial typography, therefore, but has particular
relevance to investment.

The nine personalities defined are:

#Safety Players - those who take the path of least resistance,
looking primarily for security and safety in their investments and
doing what has worked previously.

#Entrepreneurs - a particularly male-dominated profile driven by a
passion for excellence and commitment, and who are not motivated by
money in itself. Financial success is a scorecard and stock
investment is a method of implementing and demonstrating that success.

#Optimists - non-risk orientated, often near retirement, seeking
peace of mind, these are investors who don't like to become too
involved with their own financial management as it would cause them
stress and reduce their enjoyment of life.

#Hunters - often educated, high-earning women with an impulsive
streak, a 'live now attitude'. They have a strong work ethic, much
like entrepreneurs, but lack the same confidence in themselves. They
may attribute their success to luck rather than ability.

#Achievers - conservative, risk-averse, these investors like to feel
in control of their money, with security and protection of their
assets a primary consideration. They are often, married, well
educated, high-earners who feel that hard work and diligence is more
likely to bring financial reward than investing.

#Perfectionists - afraid of making financial mistakes, they tend to
avoid investment decisions altogether. They lack confidence and self-
esteem, and have low pride in handling financial matters, finding
every conceivable excuse for not taking action. For them, no
investment is without fault.

#Producers - highly committed to their work, they may earn less due
to a lack of self-confidence in money management. And with a lack of
basic financial knowledge they may have less available funds to
invest. They do not appreciate how to evaluate risk appropriately.

#High Rollers - thrill seekers, power seekers, creative and
extroverted, they work hard and play hard. They have to be involved
in high risk investing with a large amount of their assets. Financial
security bores them - even though their actions may have financially
dangerous consequences.

#Money Masters - tending to have a balanced financial outlook that
gives contentment and security, these investors like to be involved
with the management of their money and their choice of investments,
although they will take onboard good, sound advice. They are
determined individuals, not easily thrown of their chosen course, and
who don't leave things to luck.

The way the system is used is to highlight a client's personality
type through psychometric testing. The score achieved makes it
clearer for clients to face up to the financial problems they're
having or why their investment choices are not as they would wish.
Appropriate advice is then given.

The money personality profile analyses your money behaviour in the
finest detail, and gives you insight into your preference and
behaviour in terms of money. As said,it defines 9 personality types
and describes the apparent behaviour and character traits of every
personality type to help you ensure optimal success in managing your
money.

The money profile enables us to determine our financial personality
traits and it also provides us with detailed feedback about these
traits. It also gives your insight into 13 critical financial
personality attributes.

After completing your money profile, you receive an individualized
interpretation of your 13 personality traits which can be related to
money as well as a money action plan to guide your future money
actions. This will optimise your money behaviour.

The money personality traits are the following :

1.Involvement (the extend to which you personally want to be
involved and responsible for the management of your money)
2.Pride(personal satisfaction regarding the management of
money in the past)
3.Emotionality (the degree of emotion is experienced when
dealing with money)
4.Altruism (the degree of believe in the generosity of others)
5.Confidence (the degree of anxiety experienced when financial
decisions are made)
6.Power (the degree whereto your desire for power influences
your behaviour)
7.Work ethic ( your opinion on how work ethic relates to your
financial success)
8.Contentment (the degree whereto personal happiness is
experienced via your money)
9.Risk taking (the level of comfort experienced when taking
financial risks)
10.Self determination (the degree to which you feel in command
of your financial destination)
11.Spending (it reflects your attitude w.r.t. the spending or
saving of money)
12.Reflectivity (the way in which you reflect on past financial
decisions when making current decisions)
13.Trust (the level of honesty which you believe people have
when dealing with money)

For more articles please visit www.ips-online.co.za/articles.html If
interested, I can also give the latest South African persentages in
each Money Personality Group.

Hope that your Group of experts can let us share in their knowledge
and expertise.

Servaas