Financial advice is about so much more than the bottom-line number on your financial statements. It’s about building a partnership that can lead to all kinds of good things—better long-term outcomes, a better chance of reaching your goals, and a better outlook on your financial life, for starters. Take a look at the 4 major areas where financial advice can make a difference on your journey.
Investing strategies
4 important ways financial advice can make a difference
This article highlights 4 major areas where financial advice can make a difference for clients: portfolio, financial, emotional, and time.
Investing strategies
Choosing advice
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Advisors
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Vanguard values
Transcript
The value of financial advice comes down to 4 major pillars: portfolio, financial, emotional, and time. When most people think of financial advice, they think of an expert who can help them choose investments. And that's not wrong!
Working with an advisor can help you build a well-diversified portfolio that fits your goals. An advisor can help assess risk tolerance, choose your asset allocation and account types, weigh investment strategies, and rebalance as needed—all while helping to keep your investing costs as low as possible.
But the value of financial advice goes well beyond what's in your portfolio. Let's talk about some other pillars that don't get as much attention—but are just as important.
There's financial value. Advice can help you plan for expected and unexpected events in your life. That means you'll get help with goal planning, saving and spending strategies, legacy and estate planning, emergency savings, and more.
Unique features like automatic tax-loss harvesting can help you focus on tax efficiency. Plus, we've got specialized tools that can help you project the likelihood of achieving your goals—and identify opportunities to help keep you on track.
Then there's emotional value. Market ups and downs can get pretty emotional for some investors, and that's normal. Financial advice can be a grounding force that can help keep your decisions aligned with your long-term goals—and not with passing fads or the day's headlines.
Major life events come with feelings too. No matter where life takes you, advice can help give you added peace of mind that comes with knowing you've got a financial plan that still fits.
And finally, there's time value. Time is one of the most valuable resources you have, and financial advice can help you reclaim it.
Advice can take care of tasks that you may not be willing or able to perform on your own, like research, planning, and ongoing management. That means more time for the things you actually want to be doing.
Financial advice does come with fees. But Vanguard's advisory fees are lower than the industry average (PDF)1 because we believe that you should keep more of your investing returns.
It's that simple. Portfolio, financial, emotional, time. That's the value of financial advice.
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1Kinniry et al., “The evolution of Advisor’s Alpha®: People with portfolios.” Advisor’s Alpha® Perspectives, September 2022.
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