The only advantage the inventor has, is a good understanding of the algorithm. He can try to insert a backdoor or a weakness, but well known algorithms are analyzed by many independend cryptographers, and hopefully they would discover such weaknesses (intended or not).
As long as you do not have a thorough understanding of the matter yourself, you will always have to trust in other people. So the longer an algorithm withstood crypto analysis, the more likely it is that you can trust it.