The value of advice
Every investor will have a different perspective on what constitutes value. What is perceived and stated as valuable for one may not necessarily be of value to another.
For some value is solely measured in short-term dollar outcomes. For others, value may be fixed in simpler more emotive measures, such as the uncomplicated ability to sleep well at night, secure in the knowledge that they have an industry professional working closely with them to help set achievable and worthwhile financial goals, develop a program to ensure that these goals are fulfilled, and keep them on track in their efforts to attain long term financial security.
The real value of advice can only be measured in terms of what it can actually do for you, and as advice is not something that can be found in a book or purchased from a store, each client outcome is unique and as to whether it constitutes value only the client can be the judge of that.
Most clients need to look beyond pure dollars and cents and weigh the costs of advice against the peace of mind, discipline, structure, and greater certainty of a secure financial future when assessing the true value of advice. This is particularly relevant in times of volatile markets when the true value of advice is really tested.
While many people may be tempted to look after their own financial affairs, in general, without that added layer of knowledge and support offered by qualified financial advisers, many clients will be unaware of the opportunities lost, the mistakes often made through emotionally made choices, and the repercussions of ill-informed decisions.
Lifespan financial planners assist their clients in making and implementing financial decisions to help them meet their long-term goals. This involves a high level of empathy and understanding from the adviser, with the ultimate goal to identify with the clients’ needs and set the strategies in place to mitigate risk and help the client achieve their financial objectives.
Lifespan financial advisers can also provide the necessary structure and discipline required to keep their clients on-track, evaluating progress over time and adjusting the strategies when and if the need arises.
For an obligation free discussion with a Lifespan adviser in your area contact Lifespan today.