Financial Adviser or Money Manager

By: Anthony Green

We�ve all seen those commercials by the online brokerage services that bash the stockbroker. You know which ones I�m talking about. The guy is washing his boat and says, �The only thing my broker did was make me broker.� Or the award-winning commercial with the truck driver who has a picture of his island on the dashboard. While these commercials get our attention, make us laugh, and get us to wonder if it is that easy, they do make you think about what value the full-service financial adviser or money manager should provide. Here are just some of the benefits we see in dealing with a professional who has a solid game plan for investing. - Personalized service instead of using the bandwagon approach, i.e., What�s best for the masses must be best for me, too. - Keeping you on track with the game plan. When the temptation to jump is the greatest because you have that feeling of 'if I don�t buy now I�m going to miss out', your stockbroker can gently remind you of the sector field position at 90 percent. At 30 percent, when you should be buying, you may feel your stomach churning, but this is when your investment adviser can counsel you through difficult market environments because he�s been there before. He�s seen 30 percent, 70 percent, and everything in between. - The point and figure methodology is something you and your broker can work on together. For instance, he can e-mail you charts. You still stay informed and involved in the process, but don�t have to do the day-to-day portfolio maintenance. - As a busy professional yourself, you may not have the time to devote to your investments that they require. For instance, we can book our own flights on the Internet, but we still use our travel agency because it provides a valuable service. Our associates could spend forty-five minutes on the Internet looking up everything and booking it, but their time is better spent doing point and figure research. In a five-minute phone call, they can give our travel agent the details of when and where they�re going, and the travel agent takes care of the rest. - What about the rest of your family? Maybe you really take a keen interest in the stock market and understanding how to pick stocks, but your spouse might not share that same enthusiasm. When preparing for the future, wouldn�t it be a good idea to have someone who enthusiastically understands your financial picture and your goals? If Noah had waited until he felt a raindrop to start building the ark, then he would not have been ready for the flood. Don�t wait until a crisis arises to take action. Do your homework and make plans ahead of time so that when the need arises, the transition is much easier.
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