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May 15 2018

wealthmanagementweb
7531 b42e 500

Reasons to Hire a Financial Advisor

Managing money and making wise investment decisions are not innate skills. In a time where desires are marketed as needs, people discard working electronics just to have the latest version of the same device, and most are deeply in debt, that fact is evident. People cannot manage creating a savings account, so wealth management is definitely beyond the skills of the average person. There are a multitude of factors to consider when making any decisions about money, the future, and achieving goals. It takes an experienced professional to juggle those factors and strike a balance for smart investing.

Not Just for the Wealthy

A wealth manager is not a professional solely for those with more money than they can count. It is actually the average working person who benefits most from enlisting the services of an Investment Advisor. Those working forty plus hours every week have little time to research stocks, keep up with gold prices, and read analysis written by financial experts. Investing options, benefits, and risks need to be explored with, and explained by, a professional who can answer questions, breakdown components of a portfolio, and make recommendations that will help reach financial goals.

It is important to be honest with the professional regarding personal comfort levels with risk. Some people prefer to make conservative decisions and play it safe. Others wish to build wealth aggressively and are willing to take major risk to achieve that goal. That may mean huge losses, but some believe it is worth the risk. Before taking the first steps into investing, determine where that comfort level is for you.

The Long Haul

Another reason to hire professional help with finances is to minimize emotional prejudice and fear. People react quickly to situations and do not always consider the long-term objectives. Many investments that appear to be faltering recovery nicely and provide large dividends. It is easy to respond based on panic, uncertainty, and doubt. It is at those times that money is better handled by professionals. Look at it as a layer of protection against knee-jerk actions.

Changes

The financial industry, like many others, is on the brink of exciting changes brought about by the fast pace of technological advances. Computers, digital tools, and software have always been utilized in finances. Currently artificial intelligence (AI) is being implemented for administrative tasks, reporting, and automation. New applications are being developed that can reduce volatility, lessen the severity of losses, and eliminate the fear and other emotional reactions to investing.

Don't be the product, buy the product!

Schweinderl