Title: (FTA Poster) Moral and biological imperatives of rational paternalism toward client-advisor relationship
Tuesday, November 14th, 2017
Consumers are irrational and consistently make bad financial decisions as a result of their innate heuristics and biases. The current state of relationships between the financial industry and consumers lacks assertiveness and effectiveness, and as a result, the financial advisory industry has failed to gain professional status on par with attorneys, CPAs, and physicians. This paper argues through a cursory overview that adopting a rational paternalistic attitude in advisor-client relationships is both ethical and professional.