High Quality Financial Advice

This article was originally published on Juno Wealth’s website. Juno Wealth was acquired by Progeny in February 2019.

High quality financial advice is still alive and kicking

In today’s climate of one-page financial plans, bargain-basement fund pricing and automated investment tools, you may wonder whether you still need a living, breathing financial adviser and is the art of high quality financial advice dead and buried.

The answer is: You do still need high quality financial advice delivered face to face by a real person.

But with a twist. First, we need to redefine traditional financial advice – the kind that’s been delivered by those focused on recommending products, issuing buy/sell recommendations, executing transactions and collecting their commissions. If that’s what you’re thinking of, you are correct. You don’t need that. You probably never did.

But as we face another year of stock market uncertainty, the welcome advances we referenced above are best thought of as augmenting rather than replacing the solid advice most investors still sorely need to see their way through to the other side of a rough ride.

So, what is ‘high quality financial advice’?

High quality financial advice is timeless … and timely

At its essence, high quality financial advice never goes out of style. Its principles are permanent: It should be brave and true, and meant for you. At the same time, high quality financial advice must remain relevant in an ever-changing world. Your financial adviser should be able to help you embrace promising new opportunities and insights, while avoiding the false leads and frightening challenges that are as formidable as ever in today’s markets.

High quality financial advice looks at the parts … and the whole

High quality financial helps you manage your myriad related interests: retirement income, taxes, insurance policies, estate planning, philanthropic pursuits, executive compensation, property holdings, business activities and more. Beyond that, what are your goals? How can we relate your total wealth to your relationships, resources and realities? High quality financial advice should bring a unifying whole to your multifaceted parts.

High quality financial advice is personalised … and persistent

High quality financial advice is essential for making good decisions – not just in general, but for you: your money, your interests, your life. It’s about being in a relationship with an adviser who is there for you, not only during the promising planning stages when everything makes sense, but when your resolve is being sorely tested in turbulent stock markets, or when your own life’s events have knocked you off-course. High quality financial advice helps you find your way when you’ve been sideswiped by the unexpected.

High quality financial advice is wise … and compassionate

High quality financial advice is grounded in enduring academic evidence, structured process and informed experience. But for all that, financial advice is nothing if it fails to contribute to that which brings joy to your life, to help you protect the ones you love, and to reassure you in times of trouble. For this, a good adviser must not only advise you; he or she must listen to you. This brings us to our most important point.

High quality financial advice is in your highest financial interests, period

Above all, financial advice should always and only be in your highest financial interest, even when it means the adviser must take a hit to deliver it. This is where things get particularly confusing. Around the world, various advocates (including ourselves) are pressing for legislation to govern best-interest advice. Such efforts are unfailingly met with resistance from those who would undermine this sensible ideal. As a result, the financial advice you choose to use will probably always call for a “buyer beware” perspective. As Vanguard Group founder John Bogle once wryly observed, “There are few regulations that smart, motivated targets cannot evade.”

We wish it weren’t so. That which best serves investors ultimately best serves their financial advisers as well, so we would warmly welcome a world where high quality financial advice reigns supreme. Until then, we hope you’ll be open to high quality financial advice when you hear it – the kind that sees you through turbulent times, onward to your relevant financial and life goals. If this advice sounds a little different from the status-quo product sale, stock tips or market-timing tactics you may be used to hearing, that’s because it is.

Portfolio Review Service  Get a bespoke review and advice on your existing investment strategy. Request Your Review Now

This article is distributed for educational purposes and should not be considered investment advice or an offer of any security for sale. This article contains the opinions of the author but not necessarily the Firm and does not represent a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable but is not guaranteed.

Past performance is not indicative of future results and the value of investments can fall as well as rise. No representation is made that the stated results will be replicated.

Tracey Evans

Associate Director, Wealth

Tracey is passionate about helping clients to see their ‘big picture’ and has been doing so for nearly 30 years.

Learn more about Tracey Evans