Prado, MelissaVitali, Riccardo2026-03-092026-03-092025-01-152024-01-15http://hdl.handle.net/10362/201117This work project covers the evolutionary analysis of the wealth management industry and the impact of behavioral finance on investment decisions. Primary emphasis is placed on the failure of traditional models in considering psychological facets. Moreover, an in-depth analysis of Goal Based Investing is carried out, seen as a tangible mechanism to mitigate biases’ negative effects. The research underlined, through literature review, qualitative interviews, and case studies, the advantages of integrating behavioral insights in portfolio allocation, aligning investments with emotional management. The practical recommendations given herein will help wealth managers to develop relationships with clients and, hence, be successful in today's investment environment.engWealth managementBehavioral financeGoal-based investingPrivate bankingAsset allocationPortfolio managementBehavioral biasesmaster thesis204131456