Found the blog post very interesting! Thanks..I think Nudge author Rick Thaler also has highlighted the Sirens story for avoiding temptations.

I totally agree that we need to factor in behavioral finance to a large extent while working with clients and that financial terms are not understood by investors easily. We need to communicate them in a simple language that will bring clarity to conversations and help investors to achieve their goals.

Goal Based Allocation is the way to go and we have been using it for all our clients.