People procrastinate even when they know it will be good for them. It’s why I have a job as a financial advisor. We do the hard stuff for you.
I get asked all the time, “Why would you pay an advisor to help you when there are web sites, do-it-yourself asset allocation software and free resources galore?”
The answer is very simple. Behavior modification.
I usually respond by explaining the real role as a financial advisor. The true role of an advisor isn’t know by most people. Heck, most advisors don’t know their true role with their clients. Let me first answer this by saying what a financial advisors role is not. We don’t exist to pick the next hot stock or mutual fund. We don’t exist to forecast the next great market correction (no crystal ball here!). As advisors we don’t exist to impress you with our knowledge and certifications.
A financial advisors true role is to get a client on a simple plan and keep them on track.
I told you it was simple. However, just like in my past series of articles on Why Clients Do The Crazy Things They Do, behavior and emotion get involved.
Here are great reasons to hire an advisor and not go it alone:
1. To be rational voice between you and your emotional investment decisions.
2. To pick investments and create an asset allocation so you can live your life
3. To provide advice to you or your family who doesn’t want to do it themselves
4. To utilize years of investment expertise
5. To reduce fiduciary responsibility in a 401k or trust account
Has your advisor developed a simple plan and keeping you on track? If not, write me at email@example.com, or call me at 859-225-2596. By the way, stop procrastinating and take the first step and subscribe to The Diligent Advisor by clicking here. It’s FREE!