Unintentionally Bad Advice

• If a professional advisor is too risk-averse, due to being liable for potential loss, the advisee suffers from a lack of good advice.
• If the advisor is too close to the advisee, things get personal and both parties try to compromise on the risky decisions so that the social bond is not strained or broken, leading to long-term opportunity costs.

These psychological factors contribute to conflicted and substandard advice from the professional advisors.