The Value of Financial Guidance for Investors

The Value of Financial Guidance for Investors

Financial Guidance for Investors does far more than pick investments. They can help you prioritize your goals, develop a plan to reach them and make adjustments along the way. They can also guide you through complex topics, such as tax-loss harvesting and retirement income planning. They can even help you navigate changing regulations that impact your taxable accounts and contribution limits.

Many people don’t seek out advice because they believe it is too expensive or complicated. In reality, the costs of financial advice are relatively low and are often more than offset by the value an advisor can add to your portfolio. Additionally, many advisors work with clients of all income levels and are available to meet in person and over the phone.

The Difference Between Guidance and Advice

When it comes to investing, there’s a lot of confusion over the terms ‘information’, ‘guidance’ and ‘advice’. While these words have very different meanings in everyday use, they are distinctly different in the context of the financial services industry.

Financial guidance is provided by individuals and organisations – such as advice charities – who offer information about the various options available to you. It should not recommend any specific option over another. Financial advice is a more comprehensive service that looks at your personal circumstances and financial plans and makes recommendations about which product would best suit you. It is typically offered by registered advisers and must meet certain regulatory requirements, including the client suitability and appropriateness tests introduced through MiFID II.