Nobody can establish who first used the phrase 'evidence-based investing', and no regulator defines it. Robin Powell, who was given the name by Larry Swedroe in 2015 and is sometimes wrongly credited with coining it, sets out what it actually means: four tests of what counts as evidence, borrowed from a medical parallel that hit the same crisis twelve years ago. Including where he goes further than a global tracker, and why he holds that position less firmly than he used to.
The reason why so many people receive poor financial advice is the same reason why so many of us overpay for car repairs. Simply put, we lack the basic knowledge to distinguish good advice from bad. A phrase we keep reading is the “advice gap”. And I get it. It’s a big problem I’ve written about many times. Only a tiny fraction of the UK population receives financial advice. The Retail Distribution Review, for all the good it has done, has only widened the gap further, as
Robin Powell
Nov 13, 20244 min read
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