Can you really be Unbiased?

By Mark Bertrang, The Creator of the Financialoscopy® on Thursday, March 13th 2025

 

The Unbiased Lie

Let me share an important truth with you today: The Unbiased Lie.

I recently heard an advertisement from a financial firm claiming they could provide unbiased opinions. Here's my take: that’s simply not true.

Unbiased opinions don’t exist because every one of us has biases. No one is completely impartial. For example, if you ask an 80-year-old financial advisor whether a 15-year or 30-year mortgage is better, they’ll likely recommend the 15-year option. Why? Because they can’t fully envision being alive 30 years from now.

Even well-known financial personalities aren’t immune to biases. Take Dave Ramsey, for instance. He’s helped countless people, but his stance on avoiding all debt stems from his own life experiences. On the other hand, Robert Kiyosaki, author of Rich Dad, Poor Dad, believes in leveraging as much debt as possible to build wealth.

So, who’s correct? It depends. Dave might be right in some scenarios, and Robert might be right in others. The point is, both of them are guided by their personal biases and experiences.

The Unbiased Truth

My own biases have shifted over the years. I strive to view life holistically, but as I’ve aged and experienced life’s ups and downs, I’ve become more cautious. I’ve seen situations where things went horribly wrong—like when someone’s income suddenly vanished or the market crashed. These experiences have shaped my tendency to lean toward conservative strategies, as I’m constantly aware of how plans can unravel.

Meanwhile, a client without my perspective might have an overly optimistic bias, believing everything will always turn out great. That’s not a bias I share, but my experiences have instilled biases in me that they might not understand.

 

A Bias We Can Live With

If you’re looking for an unbiased opinion, we’re probably not the firm for you. But here’s the good news: we’re upfront about our biases, and we’ll take the time to understand yours. Wouldn’t you rather work with someone who is honest about their perspective rather than pretending to have none?

If our approach resonates with you, we might be a good fit. Let’s have an open conversation about our biases and yours. From there, it might be time to schedule your Financialoscopy® and take the next step in building a financial strategy that works for you.

 


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