Money Talks: Is A Financial Advisor Worth It?

You’ve probably asked yourself, “do I really need to pay someone to manage my investments?”

Maybe you’ve done OK going it alone so far.  But here’s the problem: When a person goes it alone, they usually allow emotion to rule their investing decisions or make choices based on “what’s done well lately”.  We all know that trees don’t grow to the sky, so when should you adjust your portfolio?  Making these tactical investment decisions can be a full time job and for the best outcomes, requires careful expertise.   Without that, investors often overreact in market downturns, selling off their funds to avoid more losses.

Constructing a risk-appropriate portfolio is only one aspect of what an advisor can hep you do.  Creating a full -financial plan, based on your personal financial goals is more than just picking investments.  Consider the value in hiring a Financial Planner who takes a holistic approach.  Aside from asset management, a financial planning will advise and counsel on various aspect of your financial life including investments, insurance, retirement planning, and programs like Social Security and Medicare.  Financial Planners take a comprehensive view of your financial life and help ensure all aspects are working seamlessly.  That’s when hiring an advisor or financial planner really proves to be worth it.

So, if you’re thinking of hiring a financial expert, do your homework, ask for references and kick the tires.  You should expect them to answer your questions fully—no dodging and no sales pitches. If you come across someone who doesn’t like your questions or is all about guaranteed returns, keep looking.