What would a football game look like if there were no playbook? A pickup game in the park with friends. In other words, it would be made up on the fly. While that might make it on the playground, it won't cut it in organized sports or with your financial life.
It is critical for any investor to fully understand the difference between a broker and an investment advisor: investors need to understand whether the advice is objective or, perhaps, driven by financial incentives.
Investors shouldn't be obsessed with their portfolio's performance, but an annual evaluation is key to keeping you on track.
When you visit a pediatrician, you know she graduated from medical school and completed additional specialized training. When you do business with a lawyer, you know he has a law degree. When you send your child to school, you are certain the teacher is state-certified and meets state-mandated continuing education requirements.
Relying on one "financial planner" to be an expert in everything is unrealistic. That's why FirsTrust offers our consulting clients access to a team of experienced specialists from the firm's 4 specialized divisions: Investment Management, Financial Planning, Tax Consulting, Trusts & Estates. We believe in having access to depth & breadth of knowledge, and we welcome the opportunity to collaborate with your other professional advisors.
