If the advisor is providing financial advice that is focused on issuing buy/sell recommendations, executing transactions and collecting commissions, then no, you don’t need that type of advice. You probably never did.
But “good advice” is something else entirely.
Good advice is timeless … and timely. Good financial advice never goes out of style; its principles are permanent. 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 while simultaneously implementing and managing your myriad related interests: taxes, insurance policies, estate planning paperwork, philanthropic pursuits, executive compensation, real estate holdings, business activities and more. Good financial advice should bring a unifying whole to your multifaceted parts.
Good advice is personalized … and persistent. Good financial advice is essential for making good decisions – not just in general, but for you: your money, your interests, your life. It’s about being in a relationship with an adviser who is there for you, not only during the promising planning stages when everything makes sense, but when your resolve is being sorely tested in turbulent markets or when your own life’s events have knocked you off-course. Good advice helps you find your way when you’ve been sideswiped by the unexpected.
Good advice is wise … and compassionate. Good financial advice is grounded in enduring academic evidence, structured process and informed experience. But for all that, financial advice is nothing if it fails to contribute to that which brings joy to your life, to help you protect the ones you love, and to reassure you in times of trouble. For this, a good adviser must not only advise you; he or she must listen to you. This brings us to our most important point.
Good advice is in your highest financial interests, period. Above all, good advice should always and only be in your highest financial interest, no matter what. You, as the client, always come first.<
So, do you need advice when it comes to your financial affairs? The answer is yes – as long as it’s the right kind of advice – the kind of advice that sees you through turbulent times, onward to your relevant financial and life goals. If this advice sounds a little different from the status-quo stock tips or market-timing tactics you may be used to hearing, that’s because it is.
We at Core Wealth Management welcome the opportunity to be the trusted advisor who can provide you with that kind of client centered advice. We hope you’ll be in touch.
Core Wealth Management is a fee-only wealth management firm located in Jupiter, FL. Our CFP® professionals provide investment management, financial planning and advisory services, while always strictly abiding by the highest fiduciary standards. For more information, contact us today at 561-491-0231.
Jackie Goldstick, CFP® is the Director of Financial Planning at Core Wealth Management. She is a member of the National Association of Personal Financial Advisors (NAPFA) as well as the Financial Planning Association (FPA).