What is the importance of having an investment adviser? What do I stand to benefit by keeping a financial coach? Do you want to employ the services of a financial advisor or planner but you want to know if it is worth the money? Well, I advice you read on as I outline the advantages of having your own financial investment adviser.
It is known fact that there is a certain degree of risk associated with every investment. Now most individual investors live with the assumption that they are trading against the market; but in reality, they are trading against well organized teams.
Just observe the most successful investors in the world such as Warren Buffett, George Soros, Donald Trump, Carl Icahn, etc and you will notice that they each keep their own investment advisory team.
If these successful investors keep financial investment advisers, why shouldn’t you. So without wasting time, here are some reasons why it rocks to have your own investment adviser.
“Business and investing are team sports.” – Robert Kiyosaki
“The important thing is to keep playing, to play against weak opponents and to play for big stakes.” – Warren Buffett
Before I proceed to tell you the advantages of having a financial investment adviser, I want to emphasize the fact that being financially literate is more important than having an investment adviser. Why?
The reason I say this is because all investment advisers are not equal. There are good investment advisers and bad investment advisers. Now how do you spot the difference? The answer is that you can’t, except you are financially literate.
“People without financial knowledge, who take advice from financial experts, are like lemmings simply following their leader. They race for the cliff and leap into the ocean of financial uncertainty, hoping to swim to the other side.” – Robert Kiyosaki
“Wall street is the only place that people ride to in Rolls Royce to get advice from those who take the subway.” – Warren Buffett “
“Beware of geeks bearing formulas.” – Warren Buffett
13+ Kickass Advantages of Having a Good Financial Investment Adviser
1. Investment advisers help to keep you on track. It is surprising how easy it is to relent on your effort if no one is watching you. A financial adviser acts as a watchdog and keeps you disciplined and focused on your financial goals or vision.
2. Financial advisers expose you to different types of investments. When it comes to the business and investment world, you can never know it all. There are many financial products and each of these products has its technicalities that may take you years to fully understand. However, you can have a good jumpstart in the shortest of time by picking the brain of your adviser.
3. They provide encouragement when the going gets tough, and help you stay on track. Their advice and encouragement can come in handy during economic downturns, market volatility and in your quest to reduce your personal or business debt.
4. Financial advisers can help you gain greater control over your money; and how you spend it.
5. A good financial adviser will teach the basics of personal finance while an investment adviser will teach you the intricacies of debt and taxes; and also teach you how to leverage these two tools to strengthen your portfolio.
6. Investment advisors force you to do your due diligence and have a rethink about an investment you are about making. They also provide you with unbiased opinions and help you see the grey areas of the investments that you must have missed.
7. A good financial adviser will help you keep track of your financial positions at all times, to make sure your investment portfolio is healthy.
8. A good financial investment adviser will give you good recommendations on investments to buy and professionals to consult.
9. A good financial planner will help you develop a plan that suits your personal need and current financial position.
10. A good investment adviser will help you scrutinize the financial statements of companies you want to invest in and give recommendations. By doing this, they can help you avoid bad investments.
11. Your personal investment adviser is your personal investment adviser, and friend. Meaning you can call him or her at any time of the day and get a positive response, and you can also discuss with him or her over lunch.
12. A good financial adviser will not only advice you on how to make money but will also teach you how to protect your money from lawsuits, loved ones, family and friends, brokers, government, etc. You adviser can help you choose the best “Asset Protection Strategies” for your wealth or investments.
13. Lastly and most importantly, an investment advisor will provide you with references and success stories of other successful investors. Nothing beats learning from the experience of someone else.
14. Good investment advisors that know their onions can provide you with investment information, Pre-IPOs, Private Placements, inside information, angel investments and equity financing deals, Real estate syndications and Partnerships, etc that are not available to the public or ordinary brokers.
In conclusion, the twelve reasons above are exactly what you stand to gain by having a personal financial investment adviser. However, I want to sound a note of warning; please be mindful of who you choose as an adviser, because such a person will either facilitate your financial growth or downfall. Secondly, there are two types of investment advisers; advisers for the rich and advisers for everyone else.
But regardless of the adviser you choose, you must make sure your adviser is not just an adviser but also a doer. He or she must also play the same game you are being advised to play. Never work with an adviser who advises you to invest in stocks while he or she does not actively or passively invest.