Conversations with Claris: What is the Value of a Wealth Advisor?

The access to information on a local, national, and global scale has never been greater in our history. The internet and 24-hour news cycle have brought a whole new level of information overload to society. We see this in our industry; online brokerages promoting no cost trading, access to investments without thorough due diligence, stock speculation driven by keyboard warriors with an agenda.

There is something to be said about Benjamin Franklin’s quote: “The bitterness of poor quality remains long after the sweetness of low price is forgotten.” When does hiring a professional make sense rather than attempting a do-it-yourself approach? In many of our daily lives there are situations when it would never enter our minds to not seek professional guidance and pay for it. Medical concerns, Legal matters, and even repairing your car. There are varied levels of expertise involved in all things.

Why Quality Matters When It Comes to Investing

So, how about investing or retirement planning for example? Many pundits of the profession would have you believe you can in fact do it yourself. Because trading is free, computer models are accurate, and they can predict the future all with the most basic of information. This ignores the fact that our lives are more complex than just a matter of pure cost. When you add that to the equation the variables change considerably. If money can fix it then it’s not a problem until it becomes one.

The value of an advisor is rooted in the quality of the work they are hired to do. They serve as a resource; providing answers to tax or estate questions, building financial planning models, and understanding how the unique circumstances our complex lives fit together. Advisors also serve as a guide; removing the emotion of a volatile market and keeping clients on track to their goals, navigating the endless amount of new investment ideas streaming across the internet, and working through your difficult moments; job loss, the passing of a loved one, career changes.

Remember, free still comes with a price and it will not usually reveal itself until after the decision to invest in the next sure thing has come and gone along with the money. The value in the advice to not speculate on something and stick with the goals and objectives your advisor has mapped out can be proven to be priceless. Maybe less exciting, however, much more prudent.

Contact Claris to see how our investment approach is designed to help you understand, invest and relax.

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