the difference is that academic research is several degrees of abstraction removed from real world applications. the economist might not specialize in theories

the difference is that academic research is several degrees of abstraction removed from real world applications. the economist might not specialize in theories about why, when, or how much specific assets go up or down. even if he did, he might not have the skills to make actionable predictions from messy input data. doesn't mean his theories are wrong, just that someone else needs to bridge the gap between theory and application. evolutionary biology has almost nothing to do with being a good parent. I don't think this even requires an explanation. the financial advisor is the exact opposite. managing personal finances is the exact problem they are supposed to help you solve. if they can't do it for themselves, that's a pretty strong reason to doubt they can do it for you.