Hiring an advisor is much like delegating other tasks to specialists — for example, lawn care or housekeeping. Although you may be able to do the work yourself, you can benefit from a professional’s knowledge, experience, and attention to detail, and in the process, reclaim precious time for higher – priority activities. Working with an advisor also can make you a more knowledgeable investor, which is comparable to a personal coach helping an elite athlete fine – tune his or her skills and apply discipline in training.

An advisor can help clients define their investment goals, identify concerns, and create a comprehensive wealth management plan to fulfill life objectives. This can include many services beyond investment selection and asset allocation, such as financial planning, estate planning, insurance, or charitable gifting. This can also include education and imparting a certain level of knowledge about investing and other financial matters, which can translate into discipline. By partnering with a professional who knows and understands them, clients can make financial and investment decisions in the context of their entire financial picture.

Staying up to date on the changing landscape of investments, financial planning, taxes, and other regulatory matters requires time, expertise, and resources. There is also the coordination of other service providers, such as custodians and asset managers, which is required to execute a comprehensive financial plan. Many people outsource other aspects of their lives to professional service providers because they either understand the complexity of the matter or place a greater value on time gained. By delegating their financial and investment details to a professional advisor, clients can spend more time doing the things that are most important to them.

A financial advisor can assist in planning and preparing for life’s uncertainties, which can help clients stay on track when the unexpected occurs. A client’s goals and circumstances will evolve, and an advisor can bring structure and cla rity to financial decisions while helping clients understand new challenges and opportunities that may arise as they move through life.

Many emotions stem from matters involving money. A financial advisor can combine a deep understanding of a client’s financial situation and pers onal goals with an ability to remain objective when times get tough. This balanced perspective can encourage clients to make rational investment decisions. Often, this means keeping investors focused on the long term and tuning out the noise of distraction s that can take them off course.

While everyone should understand the fees they are paying for services they receive, purchasing the lowest cost option is not always the best decision. Many factors need to be considered, such as the quality of the service, experience and expertise of the provider, range of services offered, interactions with the provider, level of customer service, or the over all experience. Cost is unlikely to be the primary consideration when selecting a physician or lawyer, and the same notion should apply to professional financial advice.

Many investors seek a formula or a magic number to help them justify the fees they pay for financial advice. The reality is that every investor has a unique financial journey and helping investors feel positive about their financial position as they move toward achieving their goals can be a major part of the value of professional financial advice.