You have a client that is single and 73-years old. She is retired with enough wealth to meet her retirement lifestyle needs as well as have enough left over at death to leave behind an expected $3 million in investment assets (not including their home) to her two children.

Her investment are invested in a diversified range of assets, including Australian shares and government bonds.

Discuss two (2) types of behavioural bias that might be exhibited by the client and how these might be addressed by her financial adviser. She wants to sell her bond portfolio as she has seen property prices rise recently and she is worried she will miss out on such a good opportunity. She does not want to sell her share portfolio though, as her late husband put it together and she feels connected to it.