Psycological Depends

Unfortunately - Having a financial adviser enables the investor to wear psychological depends(diapers) . If an investment strategy turns out well, the investor can take the credit, attributing the favorable outcome to his or her own skill. If the strategy turns out badly, the investor can protect his or her ego and lower the regret by blaming the adviser. This phenomenon involves self-attribution bias. The investor attributes favorable outcomes to skill, and unfavorable outcomes to either somebody else, or just plain bad luck.As a former fashion designer this applies to buyers as well... Actually OUR CULTURE!!!