Use 'well advised' in contexts where you give or receive suggestions about smart choices. Starting a business? You'd be well advised to research the market first.
Pro Tip 2/3
Decision Importance
'Well advised' implies the decision has significant consequences, emphasizing the value of good advice. She was well advised to accept the job offer, given its career-boosting potential.
Pro Tip 3/3
Subtle Encouragement
The phrase can subtly urge someone to follow advice without being too direct. You would be well advised to check the weather before hiking.