In this column I dig into new behavioural research showing that the timing of advice matters far more than we tend to think. A study in the Journal of Behavioral Decision Making found that people were more likely to trust and act on guidance when they formed their own view first. That sounds small, but it fits perfectly with what many advisers see every day. After someone takes a crack at budgeting, investing on their own, or navigating mortgage options, they suddenly become more open to advice. It is as if the first attempt creates a psychological anchor that makes the advice feel more relevant and less like an instruction from someone else.

I explore how this plays out in real financial life and why even high quality advice can miss the mark if it arrives too early. We want autonomy. We want to compare our instincts to someone else’s view. And once we have that reference point, the advice lands with more weight. This has implications for everything from advisers and educators to apps and robo platforms. Instead of leading with the answer, it may be smarter to invite people to think through the problem first. I close by suggesting that if you are wrestling with a big money decision, take a moment to form your own preliminary take. That small step can make good advice feel clearer, easier to absorb and a lot more actionable.

Why the timing of financial advice matters
Study suggests investors are more likely to listen to professional advice after they’ve formed their own opinion, rather than before
The Globe and MailPreet Banerjee