In today’s digital age, automation has become the norm in many areas of our lives, including financial planning. Robo-advisors have gained popularity with their algorithm-based investment decisions and low-cost services. While these platforms can be convenient for simple financial situations, they often lack the human touch and personalized guidance many individuals crave.
If you find yourself yearning for a more personal and comprehensive approach to managing your finances, it is time to consider the value of a trusted advisor. With a trusted advisor, you can have meaningful conversations, develop personalized strategies, and typically make better informed decisions based on your unique goals and circumstances. This human connection provides a sense of reassurance and confidence that algorithms likely cannot replicate. Read on as we explore the potential benefits of working with a trusted advisor and why human interaction is often a critical aspect of successful financial planning.
Robo-advisors are helpful when you are just starting your financial journey and have smaller balances to manage. Since there are often fewer fees with a robo-advisor, it can be a good fit for beginners. However, if you have been letting your robo-advisor run the show for a few years while your finances have grown and become more complex, it might be time to upgrade to a human financial advisor.
These are professionals with years of expertise in a wide variety of financial situations. Financial advisors are trained to help clients manage their finances and pursue their money goals. They stay up to date on the latest financial news and trends, which can help you receive the most current and relevant advice. No matter what is happening in the markets or in your accounts, your financial advisor is equipped to develop the plan you need to pursue your financial goals with confidence.
The help of a robo-advisor is typically limited to its algorithm or the lines of code it uses to make decisions; and it usually makes decisions with the basic information you provide. Data such as your risk tolerance, investment amount, and time horizon are used to calculate the best investments for you. Again, this can be great for beginners just starting out.
When life gets more complex, you can typically benefit from financial advice that is more customized to your specific situation. Most advisors get to know you, not just the numbers. They help you identify areas of improvement and find ways to solve your biggest financial issues.
A financial advisor is there to help you lay out a plan toward your financial goals too. A human advisor might help you strategize how you can retire early, how to expand your small business, or how to pay for your child’s college tuition.
Finances are usually seen as a more logical topic, but emotions are deeply connected to your financial situation in ways you might not have considered. During times of economic uncertainty, you might feel scared, stressed, or concerned. When things are going extremely well, you might feel overjoyed, carefree, or impulsive. These emotions can affect your ability to make wise financial and investment decisions.
An experienced financial advisor can guide you through those decisions typically with greater clarity. Instead of letting your emotions run the show, advisors can look at your situation objectively to help you make an informed decision even in challenging moments.
If you have had trouble sticking to your financial plan before, a financial advisor could provide the accountability you need. Financial advisors and planners can help you create a budget, track your expenses, and monitor your progress toward your financial goals.
They will also help you keep those end goals in mind when you consider the other financial decisions you want to make. If your goal is to buy a home, your financial advisor might remind you of that when you want to purchase a new Rolex.
Get the Personal Touch
While robo-advisors may be helpful for straightforward financial situations, there are times when you need more than automated investment decisions. This is when seeking the guidance of a financial advisor becomes crucial. Experienced advisors can craft personalized plans tailored to your specific goals and financial circumstances.
If you are ready to partner with a financial professional who goes beyond the numbers and takes a comprehensive view of your financial well-being, Wellstone Wealth Management is here to assist you. Our unique Return on Life approach helps you get clear on matching your values with your vision. Do not hesitate to schedule a complimentary introductory meeting by contacting us at 503-594-1210 or email@example.com.
Greg Allen is a CERTIFIED FINANCIAL PLANNER™ professional, Life-Centered Financial Planner, Managing Member, and second-generation owner of Wellstone Wealth Management, a life-centered financial planning firm that takes a unique Return on Life (ROL) approach to help their clients live the best life possible with the money they have. With over 20 years of experience, Greg holds fast to his mission of helping clients plan their finances around their lives, instead of the other way around, resulting in fulfillment, confidence, and a meaningful life. Greg also provides a caring, trusted long-term relationship and life-centered financial behavioral counseling. He specializes in working with people who have recently retired or are close to it (typically five years or less) and relates well to corporate executives and upper-management couples who often have complicated financial pictures and need help maximizing their wealth, reducing their taxes, and preparing for retirement so they can maintain their ideal lifestyle.
When he is not helping his clients find meaning and purpose, you can find Greg spending time with his friends and family, especially his wife, Sandy, children, and grandchildren. As a native Oregonian, Greg loves the outdoors, visiting the Oregon Coast, and retreating to their family cabin in the mountains. He enjoys staying involved with his church, reading, watching sports, and anything to do with exercise and wellness. To learn more about Greg, connect with him on LinkedIn.
Information provided herein is provided by Wellstone Wealth Management, LLC. This information is for general informational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Information was compiled from third-party sources believed to be reliable and accurate but cannot be guaranteed. Investment advisory services are offered through Oswego Wealth Advisors, Inc., an SEC Registered Investment Advisor. Neither Wellstone Wealth Management, LLC nor Oswego Wealth Advisors, Inc render any legal, accounting, or tax advice. All investments involve risk, are not guaranteed, and may lose value. We recommend that all investors consult with a qualified adviser to assess your personal situation before implementing any strategy.
Please remember to contact your advisor when your financial circumstances or objectives change. Your advisor may recommend adjustments to your financial planning and investment strategies to better suit your current situation.