A celebrated behavioral economist tells ThinkAdvisor’s Jane Wollman Rusoff that “to be willing to sacrifice something about the quality of life now for later, you need to really trust the [advisor].” This podcast (5:42) argues that, with the exception of the military, people don’t make difficult personal sacrifices based on their trust of another person. To achieve something close to that level of influence would require an advisor to personally demonstrate his commitment to the ideals he espouses.
