Between the sprint to Tax Day at the beginning of the year and the rush to meet annual targets at the end, financial advisors can help clients confront a bias toward the status quo. Anna Rathbun is the founder of Beachwood, Ohio-based registered investment advisory firm Grenadilla Advisory. Status quo riskThe clients may be losing that focus, if they fall into the common form of risk aversion that makes the status quo look more attractive than moving proactively toward their goals. "Status quo bias can often impact your ability to change financial products and the investment decisions you make over the short and long terms," the regulators wrote. The status quo bias could even affect, for example, a family that has already completed a will; many clients don't know that a retirement plan's beneficiary designation will likely override a will's instructions.