Evidence-Based Investing: M.D. Turned Financial Advisor Diagnoses What Ails Most... ( Investment Advisory Firm Turns to...)

Evidence-Based Investing: M.D. Turned Financial Advisor Diagnoses What Ails Most Investors

Date:9/30/2008

Investment Advisory Firm Turns to Medical Professional to Apply Rigors of "Evidence-Based Medicine" to Investing; Why Do So Many of Us Let Advisors Give Bad Advice About the Best Medicine For Portfolios?

ROCKFORD, Ill., Sept. 30 /PRNewswire-USNewswire/ -- Doctors and surgeons are expected to base their diagnoses on what the latest scientific research shows is the best way of dealing with specific diseases and other illnesses. Yet most financial advisors do not operate on the same fact-based standard and, instead, "prescribe" actively managed, expensive and tax-inefficient investments despite the overwhelming evidence that such an approach is dangerous to the long-term financial health of investors.

Financial advisors and their clients could learn a few things from the medical world, according to a major new white paper titled "Evidence-Based Investing: A Scientific Framework for the Art of Investing" from Savant Capital Management, a fast-rising investment advisory firm with offices in Illinois and Wisconsin. Savant is one of the first investment firms in the U.S. to hire a practicing doctor-turned-financial planner to assist clients in applying what it calls "evidence-based investing" to the world of personal finance.

In addition to his work at Savant, financial advisor Brian J. Knabe, M.D., is a clinical assistant professor in the Department of Family Medicine with the University of Illinois.

EBI is based on the concept of "evidence-based medicine," which was first used in the early 1990s. It is an attempt to apply the standards of evidence gained from the scientific method to certain aspects of medical practice in a uniform manner. Evidence-based medicine also seeks to judge the quality of specific evidence as it is applied to the assessment of the potential risks and benefits of a given treatment. According to the Centre for Evidence-Based Medicine at the University of Oxford: "Evidence-Based Medicine is the conscientious, expl
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SOURCE Savant Capital Management Inc., Rockford, IL
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