An Exploration of Overconfidence in the Utilization of Financial Advisors

Abstract

Understanding the concept of overconfidence and applying this concept to the decision-making of individuals as it pertains to employing a financial advisor, this will provide individuals within households and practitioners with more insight into understanding the psychological and sociological traits involved in making financial decisions. These understandings will assist individuals within households in reaching their long-term goals and allow practitioners to better solicit prospects by understanding their behavior.