You drive to the store to buy an amazing Black Friday deal on that 60 inch TV you have wanted to have for so long.  You feel confident that you are making a great decision.  After all, you have seen the media advertisements, so you know you are getting the best price and you are buying a quality brand name in a reputable store.  You are lucky enough to “snap” one up, so you return home feeling really happy and immediately begin the set up.  You turn on the TV and the picture is great; so far so good. You proceed to set up wifi, but it is not working.  You must be doing something wrong!  You search online for an answer but you cannot find the exact model for your TV. So the next day you drive back to the store to speak to someone. You are informed that the particular model you bought is a Black Friday limited edition and it does not come with wifi built in.  You need to buy an expensive adapter to make in work.  That will put the price at or above the regular price of a similar TV with wifi built in! So what went wrong? You could blame the media for misinterpretation or the sales person for not giving you full disclosure but ultimately it is was your responsibility to do the research.  We are saturated with information telling us what is good and what is bad; who has the best products, the best deals, and the smallest fees.

It drives me crazy to see these infomercials telling you that advisor’s fees are too high; that they don’t spend a lot of time helping you; that they only care about making money for themselves.  Who do you believe? It all comes back to the same principle. You need to do your research.

What are you trying to accomplish? How much do you know about investing?  What services do you need? 

What those infomercials don’t tell you are the many benefits of working with a Financial Planner.

  • Certified Financial Planners have vast investment product knowledge. They know about the manager’s history, the risk level, the objectives and the volatility of the investment products.
  • They have the experience to handle the ups and downs of the markets.  No one knows where markets are heading but Certified Financial Planners have strategies in place to help you weather the volatility.
  • Certified Financial Planners are part of a vast network of specialized professionals such as accountants and lawyers who team up to provide you with the best solutions possible specific to your personal needs.
  • They have access to resources such as specialized software that take into consideration many of the factors needed to arrive at accurate results and they take the time to get it right. Many hours are spent researching, gathering information and analysing.
  • Certified Financial Planners help you by holding you accountable for your decisions. They guide you in making wise financial decisions but they also help by discouraging you from making irrational ones too.
  • Certified Financial planners focus on long term results. According to a study entitled The Gamma Factor and the Value of Financial Advice, “investors who work with an advisor have been shown to have almost 4 times the assets of investors who don’t work with an advisor over a 15-year period”.*

A Certified Financial Planner’s ultimate goal is to help you succeed in attaining your goals.  It’s a partnership not a sales transaction. We do care about you and what happens to your money.

Look beyond the price tag when it comes to investing. Do your research and look for the choice that is right for you.  Ask yourself; what services do I need and what value do I place on these services. Don’t just look for a Financial Planner but look for the right Certified Financial Planner that will work with you as a team to accomplish your goals and see you through your life’s journey.

*Source of Statistic:  Montmarquette, C. and Viennot-Briot, N., The Gamma Factor and the Value of Financial Advice, Center for Interuniversity Research and Analysis of Organizations (CIRANO)2016
Original photo by Ajeet Mestry on Unsplash