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- Title
The time perspective of financial advisors and its effect on their decision-making.
- Authors
Ryack, Kenneth N.
- Abstract
Psychological research suggests individuals often display past, present, or future time perspective (TP) biases that impact decision-making. This article examines the TP biases of financial advisors from different backgrounds and whether or not the biases impact client recommendations. Consistent with literature that suggests a link between TP and career choice, advisors are future oriented as a group, regardless of their professional background. However, contrary to prior TP research, the bias does not appear to impact their professional decisions. Instead, the findings are consistent with research that demonstrates psychological biases are mitigated when professional decision makers perform job related tasks.
- Subjects
TIME perspective; TIME management; INVESTMENT advisors; ECONOMIC aspects of decision making; FINANCIAL management; FINANCIAL planning
- Publication
Financial Services Review, 2015, Vol 24, Issue 4, p387
- ISSN
1057-0810
- Publication type
Article