Knowledge Center Archive
Five Pieces of Advice About Advice
Advice can come from many sources. These sources often have personal biases that can either strengthen or limit the benefits of this advice. Preference, proximity and proficiency all play a role in how professionals dole out advice, not to mention compensation. All of these and other factors should be examined when considering an expert opinion.
In this regard, financial decisions are analogous to those you face in other areas of your life. If you were given critical medical advice, would you simply accept your doctors opinion or consider other options? Most people would choose the latter. When making important financial choices, like in life, it is important to consider all of your options and sources.