Tuesday, February 22, 2011

Let's Talk About the Experts!

By Noreena Hertz

We make important decisions every day -- and we often rely on experts to help us decide. But, says economist Noreena Hertz, relying too much on experts can be limiting and even dangerous. She calls for us to start democratizing expertise -- to listen not only to "surgeons and CEOs, but also to shop staff."

By Arianna Capital

The most interesting part of Noreena Hertz's talk is a few facts that she brings into play. She cites an interesting MRI study where peoples' brains were monitored while listening to experts. They noticed that the independent decision making parts of the brain flat-lined when the experts were talking. This is alarming as the same thing may be going on when listening to MSNBC, your financial adviser, or the news.

The main take away for me is to make sure my clients are engaged and independently thinking for themselves. When doing this I am finding more and more that they are asking very good and interesting questions that keeps me on my toes. How lucky is that - to have clients that want to understand your differences?

Trust is a wonderful thing to have, and advisers and experts that know their research are definietely needed in a world like today. However, make sure that caution is exercised and you are remaining engaged in the conversation when making important decisions about your health, wealth, and well-being.

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