(Opalesque) A study with financial advisers to make recommendations for imaginary clients found that risk tolerance assessments resulted in wildly different interpretations, which had a massive impact on client recommendations. In one instance, an adviser recommended a ‘very low’ level’ of risk for an imaginary client while another recommended a ‘very high level’.
‘Noisy’ errors by wealth managers/financial advisers can be caused by irrelevant factors, says study
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