December 8th, 2015 by Joe Olujic

There has been a fair amount of discussion regarding the actual value of working with a financial adviser, with some reports actually contending that the benefits of professional assistance are marginal at best and it is therefore not worth the ongoing costs associated with professional financial planning. While there are certainly individuals who possess the expertise to develop a long-term investment plan that is on a par with what a financial adviser would recommend, that does not mean that such a strategy is always best. As with most issues, the truth is far more nuanced and requires a great deal of analysis that factors in the individual circumstances that apply to each situation.

As someone who is known for espousing a nuanced approach that accounts for all the unique issues that apply to an individual situation or circumstance, Murziline Parchment believes that there are certainly many advantages and disadvantages to account for when making a decision on working with a financial adviser. This position further underscores the importance of understanding what those advantages and disadvantages are and how they may influence a final decision. Individuals should therefore take the time to determine whether or not their individual circumstances make working with a financial adviser more likely to have a positive outcome.

Is Professional Advice Really Worthwhile?

There is one thing that is simply indisputable when it comes to utilizing the professional assistance of a financial adviser, which is the fact that a professional is going to be far more aware of the frequently changing issues that can have a significant impact on the potential return of a specific investment strategy. Murziline Parchment has pointed out that evolving regulations both at home and abroad can profoundly influence a particular strategy in ways that are quite difficult to predict, so a lack of awareness of these frequent changes can be quite devastating for those who are uninitiated in the world of finance.

While there is certainly a cost associated with seeking professional investment advice, the benefits of working with a single adviser over a long-term basis can be tremendous. When working with a financial adviser to develop a long-term strategy that accounts for personal goals regarding retirement while considering current earnings, savings and debt obligations, a professional is far more likely to be able to provide insight regarding all of the different options available to reach those goals. Over time, a long-term professional relationship with a financial adviser is likely to ensure that those goals are achieved and that the long-term financial strategy is adhered to through the additional accountability that comes with the assistance of an objective professional.

What Is Necessary to Develop an Investment Strategy Without Professional Assistance?

Professional assistance is beneficial in the overwhelming majority of circumstances, yet there are still those who can forgo outside help and still achieve exceptional results through an investment strategy of their own design. In order to accomplish this, it is necessary to posses a deep understanding of national and international marketplaces and how subtle changes in any of those markets can have a ripple effect that influences the efficacy of a specific strategy. It is also necessary that these individuals are willing to consistently study changes made by governments in order to ensure that policy changes do not affect the success of a long-term strategy that has already been implemented.

Ultimately, the decision to work with a financial adviser is one that should always be made on a case-by-case basis. There is certainly a large portion of the population that stands to benefit from such assistance, but there are also plenty of individuals who can eschew this assistance and still devise an excellent investment strategy. Developing a deep understanding of the various influencing factors is therefore essential for anyone who wishes to use an investment strategy in order to establish financial security that extends well into the future.

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