[Stu from NYC]

Originally Posted by goneil2024

Most of the folks in TV have retired from one field of work or another. Depending on the size, complexity and other factors many may not even need an adviser. I would also expect that most reading this were fairly expert in their respective careers, that may have been, automotive, medical, manufacturing, services, education, government services, etc.

However, I find it difficult to understand why when it comes to a field as complex and impactful as personal finance many of us simply insist on a DIY approach aka self-directed investor(s) especially when one wrong decision could have such lasting consequences to our financial health.

That being said, if an individual understands and can manage all of the following concepts then likely there is no immediate need for a financial adviser. However, do we all really want to spend our time at TV monitoring, rebalancing and executing trades when we can be out playing pickleball, golf or town square with music and friends?

Do we really (be honest) understand and can execute on all of the following:

* Sequence of returns Risk
* Concentration Risk
* Time Horizon
* Risk Tolerance
* Analysis of investment options
* Individual Risk Capacity
* Suitability of Investments
* Our individual Investor Behavioral factors

In my view this as a binary decision. Do it all yourself or hand it over to someone else. After that then if you elect not to do it yourself then which firm to select. My experience after 45-years as a self-directed investor, who was trained, worked as personal financial adviser for a time, and now uses custodial services and other features from a national broker, is that it comes down to the individual at the firm and the team you assemble. Not a shocker for most of us, financial services in my view are very personal services. Just like your doctor or lawyer, some are the right fit and others simply will never be a match.

Well trained, engaged professionals don't work for free, nor should they, so be sure you get your money's worth in all cases.

This is just my personal opinion; it is not financial advice. I suggest you always consult legal, accounting and other professionals for such decisions.

I think you make this much harder than it needs to be. Once you decide on how to break down categories find a bunch of well run no load funds or low cost ETF's consistently earning good returns and stay with them as long as they do this.