Review: The Key to the Best Financial Advice: ‘Humility in Large Doses’

We at McLean obviously think financial advisors are pretty valuable. A good financial advisor will help you with your investments, but you should be looking for so much more. Investing is important, but it is only one piece of your total financial situation. A good advisor will be focused on fitting all the pieces of your financial life together.

This article provides some good tips and resources to help you find an advisor. The suggestions focus on evaluating an advisor’s investment philosophy, but not on how the advisor looks at financial planning.

Nearly every advisor does investment management, and most of them can tell you a story about how they can help you (some will make more sense than others). But not everyone can help you build and execute a comprehensive financial plan to help you identify and reach your financial objectives.

Developing and executing your financial plan is the real business of a good financial advisor. Investment management is a piece, but a good financial plan will include a number of other areas—insurance, estate planning, tax planning, etc.

A good advisor will also be there to maintain this plan and make adjustments as your situation changes through time. And above all, they are an insurance policy against making big investing mistakes.

For more on how we work with clients, take a look at our ebook “What McLean Can Do For You.”

 

McLean Asset Management Corporation (MAMC) is a SEC registered investment adviser. The content of this publication reflects the views of McLean Asset Management Corporation (MAMC) and sources deemed by MAMC to be reliable. There are many different interpretations of investment statistics and many different ideas about how to best use them. Past performance is not indicative of future performance. The information provided is for educational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy or sell securities. There are no warranties, expressed or implied, as to accuracy, completeness, or results obtained from any information on this presentation. Indexes are not available for direct investment. All investments involve risk.

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