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As a smart consumer, you may enjoy this interesting study: Not everyone understands the importance of unbiased advice. Bhattacharya and colleagues recorded what happens when unbiased investment advice is offered for the first time to retail costumers. Their study titled “Do Retail Investors Benefit From Smart and Unbiased Financial Advice? Answers From a Large Field Study” offers some insight into human behavior.

“First, only 5% of clients accept the offer. Second, of those who accept the offer, the advice is hardly followed. Third, though the investment performance improves for the average advisee who follows the advice. Fourth, it seems that the investors who most need (do not need) the financial advice are the ones who are most likely to not get it (get it)."

This study concluded that mere availability of smart and unbiased financial advice is a necessary but not a sufficient condition for benefiting retail customers.

If you are that smart person that falls in that <5% group of clients described above, Prudent Consulting, LLC is the right place for financial advice for you.

At Prudent Consulting, LLC, I like to help self-motivated clients. My clients need not have financial knowledge (that’s what I am here for!) – but must be motivated to improve their financial status to achieve their goals.

My clients are seeking advice from a financial adviser. They don’t want another salesman pushing products they don’t need.