When it comes to who decides to work with investment advisors or wealth managers, there are three groups of investors:
- Group 1 enjoys the investing process and has the time and ability to manage their own investments.
- Group 2 may have the ability to select investments but does not have either the time or desire to do the work themselves.
- Group 3 is not confident in their ability to select investments regardless of the time they have on their hands.
Group 1 tends to manage their own investments. Groups 2 and 3 often seek the help of an investment advisor. In fact, some people shift from one group to another as their time becomes more valuable or the confidence in their investment skills increase.
Investment management is a service. Just like others who prefer to take their vehicle in for an oil change, to have their nails done at a salon, or to have their taxes prepared by a CPA, customers of investment advisors can benefit from the combination of professional service and time-saving advice.
Many Americans have never consulted an investment advisor. Take a step to make sure you know what an advisor can do for you. Not all advisors are the same. Interview multiple firms to find the best fit for you.
If you would like to see what an advisor at Financial Planning Services can offer, schedule a time to meet.