facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast phone blog search brokercheck brokercheck Play Pause
Good Advice Thumbnail

Good Advice

In today’s climate of free financial plans, $0 fund pricing and automated investment management tools, you may wonder whether you still need a living, breathing financial adviser.

 

You do. But with a twist. Are you thinking about advice that’s focused on how to make a killing on hot buy/sell recommendations? Or those executing transactions and collecting their commissions? If so, you are correct – you don’t need that. You never did.

 

Instead, you need good advice.

 

Good advice is timeless … and timely. At its essence, good 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, good advice must remain relevant in an ever-changing world. Your advisor 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.

 

Good advice looks at the parts … and the whole. Good financial advice helps you manage your investment portfolio for preserving or increasing your wealth according to your goals. It also helps you plan, implement, and manage your myriad related interests: taxes, insurance, estate plans, philanthropic pursuits, business interests, real estate holdings, and more. Beyond that, what are your goals? How can we relate your total wealth to your relationships, resources, and realities? Good financial advice should bring a unifying whole to your multifaceted parts.

 

Good advice is personalized … and persistent. Good 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 advisor 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 markets. Or when your own life’s events have knocked you off-course. Good advice helps you find your way when you’ve been sideswiped by the unexpected.

 

Good advice is wise … and compassionate. Good 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, protects the ones you love, and reassures you in times of trouble. For this, a good advisor must not only advise you; he or she must listen to you. This brings us to our most important point.

 

Good advice is in your highest financial interests, period. Above all, good advice should always and only be in your highest financial interest, even when it means the advisor must take a hit to deliver it. Around the world, various advocates (including ourselves) are pressing for legislation to govern best-interest advice in a fiduciary relationship. Such efforts are often met with resistance from those who would prefer to continue prioritizing their own best interests. As a result, the financial advice you choose to use will probably always call for a “buyer beware” perspective. As the late Vanguard Group founder John Bogle has 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 all of us, so we would welcome a world where good advice reigns supreme. Until then, we hope you’ll now know what good advice looks like when you see it. It’s the kind that sees you through turbulent times, onward to your relevant financial and life goals. If this sounds dramatically different from the stock tips or market-timing tactics you’re used to hearing, that’s because it is.

 

May we offer you additional advice about good advice? We hope you’ll be in touch.


IMPORTANT DISCLOSURE INFORMATION

The information in this document is provided in good faith without any warranty and is intended for the recipient’s background information only. It does not constitute investment advice, recommendation, or an offer of any services or products for sale and is not intended to provide a sufficient basis on which to make an investment decision. It is the responsibility of any persons wishing to make a purchase to inform themselves of and observe all applicable laws and regulations. Unauthorized copying, reproducing, duplicating, or transmitting of this document are strictly prohibited. Open Window Financial Solutions, Ltd. accepts no responsibility for loss arising from the use of the information contained herein.

Please remember that past performance may not be indicative of future results.  

Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Open Window Financial Solutions, Ltd. - “Open Window”), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  

Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions.  

Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Open Window.  

Please remember that if you are a Open Window client, it remains your responsibility to advise Open Window, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. 

To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing.

Open Window is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice.

A copy of Open Window’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request. 

Please Note: Open Window does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Open Window’s web site or blog or incorporated herein, and takes no responsibility for any such content.

All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.