The Anchoring Bias
Anchoring is a common financial bias, with clients with this bias being stuck on an investment price, thinking that is the "anchor" and anything higher is a good investment. Astorino suggests making the investment policy statement early in a relationship to keep clients on track with stated investments, not going off on tangents based on a certain price (2015). This time of year, we will likely see anchoring in products, for example, a $300 item may be shown as reduced to $150, which looks like a great deal with $300 as the anchored price; though the item may only be worth $150.
Astorino, Francis X,C.F.P., C.P.W.A. (2015). How Anchoring Biases Influence Clients' Financial Behavior. Journal of Financial Planning, 28(6), 20-21. https://www.proquest.com/trade-journals/how-anchoring-biases-influence-clients-financial/docview/1687312178/se-2
