Rob Jackson (Porta Wealth)
Investing: Should You Talk To A Financial Advisor Or Go It Alone?
Updated: Feb 6, 2022
There are many methods for investing your money nowadays, but a key question for every investor is: should you go in alone, or seek help from a financial advisor?
With the rising popularity of self-investments such as stocks and cryptocurrency, there certainly isn’t any harm in trying yourself, but it does depend on the results that you are looking to achieve.
Research shows that you can be up to £1.2m ($1.7m) better-off, over a thirty-year period, when taking financial advice for investments, rather than going it alone.
So should you talk to a financial advisor, or go it alone?
Remember that time is a precious commodity
Part of managing investments and making the best financial decisions is taking the time to do so.
Evaluating all of your options and doing the accompanying research can be very intense, and often, it is focused on short-term gains.
For those looking for milestones and goals, a long-term vision is required in order to meet them and protect them: retirement planning, lifetime cashflow forecast, and protection planning as examples.
Time really is money in this case.
It is all about value
A financial advisor is beneficial due to their ability to deliver financial benefit, exceeding the cost of said advice.
It can often come down to peace of mind and expertise as key foundations – in times of market volatility, drawdown choices, and asset allocation, it’s all about how you engage in order to receive a return.
When you’re working towards a bespoke financial plan, you know that everything is on track, and that all elements can be accounted for in both the short and long-term.
You have to think about the value you can gain from self-investments in comparison to regulated advice, as the payoff is different in terms of longevity and security in many cases.
It’s not an either/or situation
There are many great DIY investors who know a lot of the practice in investing, but a financial advisor offers the theory and the expertise.
There are many points in your investment journey when you’ll need questions answering and will struggle to find the advice you need, which is where a financial adviser comes in handy.
Additionally, you want to be able to capitalise on opportunities that arise, or mitigate the potential damage of challenges, which financial advisor guidance is vital for.
In your day-to-day life it can already be extremely difficult to stay on top of everyday changes, but adding in the challenges of tax changes, staying on track with a financial plan, and tracking investments, it can all be headache-inducing.
Primarily, you need to consider how much you can juggle by yourself successfully, versus collaborating to achieve long-term, sustainable results.
When it comes to investments, you’ll likely value the flexibility a financial adviser can bring to your processes, alongside the peace of mind – it’s about the bigger investment picture.
Making the right decisions at the right time doesn’t just help you hit your goals, it protects them and you from the challenges and risks that you may struggle with when self-investing.
If you’d like to speak to a financial advisor about investing, do not hesitate to get in touch with Rob Jackson, the author of this article at Porta Wealth Management.
About the Author
Rob Jackson, Managing Partner at Porta Wealth Management
As a Partner of Porta Wealth Management, Rob specialises in taking a holistic approach to providing financial solutions for my clients as their needs evolve through the years. I pride myself on building long-term, trusted relationships through a methodical and logical approach to financial planning. I am committed to providing my clients with an on-going service they will appreciate and enjoy. As well as advising clients at Porta, I enjoy the day-to-day running of the business. Dealing with St. James’s Place as well as managing employees and training new advisers in the company are all thoroughly enjoyable.