Dave Ramsey, Suze Orman, Jim Cramer, and other gurus have made their fortunes telling others what to do with their money. Should they tell you what to do with yours?
One of the challenges of being an investor today is the overwhelming amount of information there is about every financial topic under the sun. In fact, a simple Google search for the phrase “financial advice” turned up 56,200,000 different results. With so much competing advice out there it’s tempting to look for easy answers from a well-known expert.
Here’s why you shouldn’t listen to the noise:
Financial gurus get paid to draw in eyeballs. They don’t get paid for the prudence of their advice nor do they know anything about you and your situation. They may have a national presence and a large platform but they don’t have the ability to get to know you and your family. Financial advice isn’t one-size-fits-all.
As financial professionals, we work hard to learn and understand everything we can about our clients: their goals, their dreams, their fears, and their financial challenges. We derive deep satisfaction from putting our clients on course toward their goals and being there for the big moments: weddings, a first house, anniversaries, retirement, grandchildren, and that milestone vacation.
We’re also there for the hard times. When jobs are lost, relationships end, or the unforeseeable occurs, we’re on hand to help our clients find their way. These are the times when a caring financial professional can be most valuable.
Today’s financial world is complex and simple answers that are right for everyone just don’t exist. We believe that financial advice that is tailored to your personal situation is critical to making progress toward your goals amid financial and economic uncertainty. Regular check-ins are also important to ensuring that your financial strategies keep up with your life.
We’re not saying that financial gurus are always wrong; they have helped millions of Americans start taking control of their finances and sometimes have good advice. However, most of these experts have interests that are not aligned with yours. Many get paid to recommend certain products and services that may not be right for your personal situation.
One of the best moves you can make for your financial future is to choose a financial professional who understands you and tune out the rest of the noise. One of the many benefits of getting personalized financial advice is the knowledge that you have a strategy in place and can focus your energies on making progress – not trying to figure out what to do next.