Having a Financial Coach in Your Corner

The advisor's interaction with clients is not a, I'm gonna look in the crystal ball and tell you what to buy and make a transaction fee off that. It's sitting down with you and understanding who you are as a client. The advisor knows your aspirations. They know how many kids you have. They know if you have a mortgage you have to pay. They know what kind of cash buffer you have, to make sure you're gonna be okay if the markets go down by 50%. All of those questions become part of the dialogue and interaction with the advisor. A lot of people bailed out of the stock market when it dropped a lot in the face of the pandemic. A lot of advisors didn't flinch. They kept their people invested, and in fact, a lot of them took the opportunity to invest more in stocks. It's difficult to avoid the emotion. And those human emotions are fear and greed. The whole process, the whole discipline is to be able to avoid that emotion. And not have that be part of your investment decision making. And that's where a coach comes in. You know, an advisor comes in to basically coach clients to not make those dumb mistakes, so that when that moment comes, when they say, ah, I'm a little too fearful of the market, you know, they help them stay in the market. Or, I'd like to turn up the dial a little bit on my stock allocation, and the advisor can say, you're good where you are. We don't know where the market's gonna go, yet we have a plan in place. Whatever happens to the market, I have an idea of what I'm going to do. Once you realize that you're gonna be able to get back on track, regardless of what happens to the market, if you've done your planning correctly, then life gets to be pretty good. As the world gets more complex, the best outcome for the individual is that combination, great asset management, and then great advice.