In recent years, the media has implied, and even suggested, that investment advice is simply a commodity, and that a smart, non-professional with internet access has all the tools he needs.
Is this true?
It’s true that many people are conversant in general areas of investing—diversify your portfolio, pay attention to the cost of your investments, utilize a 529 plan if you’re saving for your kids’ college. Additionally, the last decade’s bull market has seen many investors succeed in their 401ks without the help of an advisor.
What gives? Is the concept of an advisor outdated? Are advisors superfluous?
We don’t think so. When it comes to investing, and in the area of decision making, Vanguard and Dalbar have produced white papers in recent years that confirm an advisor’s value in real dollars. But it goes deeper than that. Ask yourself:
How long will your investments last when you begin taking income from them?
Is your estate plan inadvertently set up in a way that hurts your beneficiaries?
Have you saved for college in a way that prevents your child’s chance at financial aid?
Are your investments too close to the edge?
It’s hard to know what you don’t know and, as with your health, financial ignorance can make all the difference. Learn with us, after all the right financial advisor is worth it.