Reasons for people choosing a financial advisor instead of managing investments

[Oluwa-btc]

1. EXPERTISE & EXPERIENCE: Advisors contribute years of experience in financial planning,taxes,and investing.
2. TIME-SAVING: Market research,portfolio rebalancing and tend monitoring are full-time tasks.Advisors take care of that for you.
3. EMOTIONAL DISCIPLINE: Greed and fear can cause poor choices.Advisors help you stay on course for long-term objectives.

Would you rather go it alone or would you trust an advisor?

Well one can have a financial advisor no doubts because most people can be very dubious in spending and can't really have a proper financial management system cause they spend carelessly, so this is a more reason they employ adviser to give them hints on how to go about their spendings and as well make them understand the process. Despite that managing investment is vital cause you can be held responsible for whatever actions you take in doing so, but alot of person's are lazing around with it and thus they need experience and experts in the field to handle that for them.but either of them it's cool since it can profer solutions.

[Rruchi man]

Before emotions, fluctuations, and intricate tactics enter the picture,managing money seems simple.For this reason,many people opt for a financial counsellor rather than doing it themselves.

Getting money may be simpler than managing money; what some people even consider harder is multiplying the money. Money management is a skill that you have to consciously develop, and based on the importance of this skill all throughout life, it may be necessary that it is a skill that you develop rather than depend on someone for it.

You can depend on someone at the initial stage of your financial growth and then learn from them, but at the point where your wealth becomes so much that the fee for affording a financial advisor is no longer a threat to your finances, then it can be a good choice then to keep them on a permanent basis because your expertise on money management, plus that of the financial advisor, will be very invaluable to the growth of your company and your individual finances.

[justdimin]

Getting an advisor does not guarantee to manage an investment well. The reason why People have limitations in their investment is because they lack discipline and they find it difficult to understand the things they really need, instead they would prefer to go for what makes them feel happy at the moment. When it comes to financial management so people needs to work so hard on themselves, self discipline is everything everyone one would need and also how t manage money well by not spending on things that are not necessary or things that are valueless .

Lack of discipline may be one of the causes, but sometimes there are also some people who do not understand how to manage investments or manage finances so that at the beginning they need an advisor and I think it is natural for everyone in the learning stage to be able to change their lifestyle which has a big impact on independence in the future.
I personally was like that at first, I needed a financial advisor to learn many things and therefore made many changes in my life.

This is true, if you have a mentor then it means they will push you to be better, if you are all alone then it would be very risky and won't work for you at all. I understand why that would be a big trouble, but if you know what you are dealing with then you could have a much better result. In this case, you are not going to end up with a much better deal just because you want to, but if you have a mentor, they will show you how to find a better deal, and you could make a lot more money that way.

I can see this becoming an issue for newbies because they think they do not need a mentor, or they find bad mentors. People who claim they are mentors and charge you money, will only take your money and tell you things everyone already knows.

[lizarder]

It is necessary to learn to understand that things that seem complicated are actually very simple. If a person aims to have knowledge and learn with the right method, they usually achieve this and it is easier to progress towards their goal. It is possible to access information without paying someone and there are many easy ways to access information today. It is necessary to evaluate these and benefit from them.

Everyone has the opportunity to achieve good knowledge if trained consistently and I see that opportunity will be obtained if someone intends to learn something seriously. Many methods can be combined so that someone can make much better decisions, thus we know the more knowledge we get the easier it will be for us to do research before making decisions.

The reason why I say no financial advisor is needed is because humans have a level of intelligence if they are able to dig it up and what is needed is how someone wants to learn it. Sometimes we are not so sure about ourselves and trusting others does not guarantee success anywhere.

[Accardo]

The reason why I say no financial advisor is needed is because humans have a level of intelligence if they are able to dig it up and what is needed is how someone wants to learn it. Sometimes we are not so sure about ourselves and trusting others does not guarantee success anywhere.

In finance, more competent bodies create great decisions than a single person. Large companies employ experts to handle finance, because of the financial knowledge in them. The CEO can't take a role on money management because account method evaluation is not an information they possess. Companies need strong hands to take care of loan, and production processes. These skills are not easily harnessed by anybody who don't study the course.

[lixer]

It depends on my current financial status. If I am very rich, why not... I will go for a financial advisor because I will have so many things to deal with and that will be running in my head which might lead to poor financial decision making.

I think there might still be a financial advisor that are willing to lend a help for free and then some are paid but not very expensive. It does not always mean though that they are poor in quality. A rich person can be busy but some are only chill. For those who are busy, maybe they still can try to figure out things on their own because it gives them a different kind of satisfaction and most importantly saves them money if they supposed to consider those paid advisors.

However, I don't have the funds that is beyond my control. I am an average person, so I can do every of my financial dealings easily without a problem.

On the bolded part, I though you don't have too much money? Maybe you mean to say that you are not busy also according to your first paragraph. But I think most poor are actually busy grinding for money because they are usually being paid small due to their poor quality background/position.

[Josefjix]

Why need a financial advisor to manage your money when you are not a celebrity or a renounced figure who doesn't have time to manage his money but always in a concert and show all the times.

These are the category of people who need a financial expert to manage their money for them untill they are retired for rest off their career.

For a normal individual, it's vital to keep check on your investment yourself while reading and learning from a financialist you admire by simply asking questions and getting answered based on the kind of business you enjoy doing.

[ZAINmalik75]

Would you rather go it alone or would you trust an advisor?

I think it would depend on my skills and how much confidence I have in myself managing investments and financial decisions. If I know that I'm not capable enough of doing it myself, I would surely look for someone who can effectively manage everything for me, and I wouldn't mind doing that as long as I observe that things are going very well. If I feel that even after hiring someone, things aren't working out, I don't see any reason for me to continue with that, and I will surely try something different then.

Someone who understands things very well themselves, wouldn't need to hire an advisor for their investments because they must be very good at managing their investments and make their financial decisions that will only be beneficial for them in the long run.

[Stalker22]

I get why rich folks or real busy people need financial advisors to handle their money.  They got a lot going on and just dont have the bandwidth to stay on top of investments and stuff.  but what about average Janes and Joes who arent whales but still want some help managing their finances?

Seems to me advisors mostly make sense for the big fish who are raking it in but never home to balance their own checkbooks.  Or else restless retirees with seven figures to invest so they can relaxation in style.  But for us worker bees trying to squirrel away nest eggs by clipping coupons and skipping the lattes? Just watch a YouTube tutorial and save yourself the advisory fees, right?

I figure the only smaller players needing professional money managers are types nervous to control their cash solo.  Fair enough, pay for hand-holding if it eases your worries.  Though chances are you can probably figure things out alright if you try and  at least start by googling some tips before shelling out for a personal finance guru.

[kotajikikox]

1. EXPERTISE & EXPERIENCE: Advisors contribute years of experience in financial planning,taxes,and investing.
2. TIME-SAVING: Market research,portfolio rebalancing and tend monitoring are full-time tasks.Advisors take care of that for you.
3. EMOTIONAL DISCIPLINE: Greed and fear can cause poor choices.Advisors help you stay on course for long-term objectives.

Would you rather go it alone or would you trust an advisor?

Well one can have a financial advisor no doubts because most people can be very dubious in spending and can't really have a proper financial management system cause they spend carelessly, so this is a more reason they employ adviser to give them hints on how to go about their spendings and as well make them understand the process.

People with advisors usually get them because they need advice on what investments to make. No one is getting financial advisors simply because they can’t be responsible when spending. Even with a financial advisor, one can still end up spending lavishly. Financial advisors are for sorting out money, paying taxes and allocating investments.

[Baofeng]

Personally I make my own investments & manage my own risk but I understand why some more financially illiterate people may prefer their portfolio to be manager by a financial advisor. I don’t really like taking financial advice from people who likely have a lower net worth than myself.

Lol, it's we can compare it to newbie in this forum giving us financial advise.  .

But I guess everyone here has been managing our own portfolio and we are doing fine. On the contrary, we become financially literate ourselves as we have learn alot, things that are not being teach to us in school.

So for me, I will do manage my own and not choose a financial advisor. If there will be one, it could be my brother who has been helping me in my life. He is older than me obviously, so he has the wisdom as far as investing goes.

[Nalain420]

1. EXPERTISE & EXPERIENCE: Advisors contribute years of experience in financial planning,taxes,and investing.
2. TIME-SAVING: Market research,portfolio rebalancing and tend monitoring are full-time tasks.Advisors take care of that for you.
3. EMOTIONAL DISCIPLINE: Greed and fear can cause poor choices.Advisors help you stay on course for long-term objectives.

Would you rather go it alone or would you trust an advisor?

Well one can have a financial advisor no doubts because most people can be very dubious in spending and can't really have a proper financial management system cause they spend carelessly, so this is a more reason they employ adviser to give them hints on how to go about their spendings and as well make them understand the process.

People with advisors usually get them because they need advice on what investments to make. No one is getting financial advisors simply because they can’t be responsible when spending. Even with a financial advisor, one can still end up spending lavishly. Financial advisors are for sorting out money, paying taxes and allocating investments.

I think there is no person who is perfect in the World and everybody want not to get knowledge and he want to double his money which is practically not possible. People are Investing their money by getting advice from the person who is also not successful person. People should research well before investment because in this way you will earn more. There are thousands of people who are Investing their money and they are getting small profit and they are happy with that but they know whole the system behind that. When people Invest their money on ponzi scheme they will lose their money because scammers made the platform and people are greedy and they will be entrap in this .

[RockBell]

Getting money may be simpler than managing money; what some people even consider harder is multiplying the money. Money management is a skill that you have to consciously develop, and based on the importance of this skill all throughout life, it may be necessary that it is a skill that you develop rather than depend on someone for it.

And that is why you see people having money and not having again because they have failed in the aspect of management, financial management is actually a discipline on its own because if you don't learn the act of management they there periods that when you lack you will find it very hard to maintain because there is just to much luxury out there and this is enough reasons to just to force your self to learn, and you have to take the development of that skill serious because a lot of stories are out there just because they failed to manage there resources well, it is a task to take upon our selfs to develop.

You can depend on someone at the initial stage of your financial growth and then learn from them, but at the point where your wealth becomes so much that the fee for affording a financial advisor is no longer a threat to your finances, then it can be a good choice then to keep them on a permanent basis because your expertise on money management, plus that of the financial advisor, will be very invaluable to the growth of your company and your individual finances.

And it is actually okay when you have a mentor that you can depends on but only the one that have something to offer to you that is financial knowledge and most organization have personal financial management expert that there job is to give advice on how the finance of the company will grow then you has the head will be the one to give the final judgment because they will have to show you before you make conclusions because they can not be always right,  we grow differently there people that till now all they will need an advisor by there side and there people that when they grow they can stand on there own. It all depends on how we have decide to grow.

[livingfree]

I will trust an advisor if they have visible results. Like owning a successful and stable company or they've got assets that are fully paid, real estate and became a mogul or anything close to it.

With what I see with many of these financial advisors, they're not like what I think of. They're all workers that are trying to get commission to the products that they're pitching after they explain the basics of financial management.

I believe those information are posted in the public and it's just them that are showing it to their potential customers as if they're sharing it for free though it just came through them.

[mirakal]

The reason why I say no financial advisor is needed is because humans have a level of intelligence if they are able to dig it up and what is needed is how someone wants to learn it. Sometimes we are not so sure about ourselves and trusting others does not guarantee success anywhere.

In finance, more competent bodies create great decisions than a single person. Large companies employ experts to handle finance, because of the financial knowledge in them. The CEO can't take a role on money management because account method evaluation is not an information they possess. Companies need strong hands to take care of loan, and production processes. These skills are not easily harnessed by anybody who don't study the course.

Well said. However, if you are only managing a single investment like bitcoin, I don’t think a financial advisor would be more capable to do that. The investor itself has its more access on its own investment, what process to take and what strategy to apply so that the success will be somehow guaranteed.

Sometimes, you have to give yourself a time to develop it fully and become a better version. With the enhanced knowledge and skills you gain, you also become more capable to manage your own investment without entrusting its success to a stranger.

[Botnake]

Personally I make my own investments & manage my own risk but I understand why some more financially illiterate people may prefer their portfolio to be manager by a financial advisor. I don’t really like taking financial advice from people who likely have a lower net worth than myself.

Lol, it's we can compare it to newbie in this forum giving us financial advise.  .

But I guess everyone here has been managing our own portfolio and we are doing fine. On the contrary, we become financially literate ourselves as we have learn alot, things that are not being teach to us in school.

So for me, I will do manage my own and not choose a financial advisor. If there will be one, it could be my brother who has been helping me in my life. He is older than me obviously, so he has the wisdom as far as investing goes.

It’s beneficial to seek a financial advisor if you are having multiple and big investments that it’d be hard for you already to manage them all. So a financial advisor would likely to make them work.

But if we are here only investing in crypto and growing our portfolio, we can make it work all by ourselves. No need to complicate it, just buy and hold, and trade when it’s necessary and when you have the potentials to turn it into a successful trade.

[lizarder]

In finance, more competent bodies create great decisions than a single person. Large companies employ experts to handle finance, because of the financial knowledge in them. The CEO can't take a role on money management because account method evaluation is not an information they possess. Companies need strong hands to take care of loan, and production processes. These skills are not easily harnessed by anybody who don't study the course.

It cannot be generalized because we are talking about individuals, not companies or institutions engaged in the field. Companies are indeed required to have reliable workers who handle financial matters and that is an obligation that may need to be handled properly by reliable workers in their fields. Companies make many policies that need to employ more competent people in their respective fields and that is why they need skilled workers.

But if we talk about individuals who are struggling to achieve financial success, then conceptually this is not necessary because they can take care of their own financial matters with a much simpler method that does not require involving other people.