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Investment Portfolio Archives -

18 Mar


Good Advice

March 18, 2016 | By |

In today’s climate of one-page financial plans, bargain-basement fund pricing and automated investment tools, you may wonder whether you still need a living, breathing financial adviser.

You do.

But with a twist. First, we need to redefine traditional financial advice – the kind that’s been delivered by those focused on issuing buy/sell recommendations, executing transactions and collecting their commissions. If that’s what you’re thinking of, you are correct. You don’t need that. You probably never did.

But as we face a year that is kicking off with a series of sickening market swings, the welcome advances we referenced above are best thought of as augmenting rather than replacing the solid advice most investors still sorely need to see their way through to the other side of a rough ride.

So, what is “good advice”?

Good advice is timeless … and timely. At its essence, good financial advice never goes out of style. Its principles are permanent: It should be brave and true, and meant for you. At the same time, good advice must remain relevant in an ever-changing world. Your adviser should be able to help you embrace promising new opportunities and insights, while avoiding the false leads and frightening challenges that are as formidable as ever in today’s markets.

Good advice looks at the parts … and the whole. Good financial advice helps you manage your investment portfolio for preserving or increasing your wealth according to your goals. It also helps you plan, implement and manage your myriad related interests: taxes, insurance policies, estate planning paperwork, philanthropic pursuits, executive compensation, real estate holdings, business activities and more. Beyond that, what are your goals? How can we relate your total wealth to your relations