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Do You Need a Financial Advisor?
Stoker Ostler Wealth Advisors Offer 5 Considerations for Investors
Scottsdale, Ariz. (June 13, 2007)… The “do-it-yourself” method has become the new mantra for a multitude of tough tasks like home renovation, auto care, landscaping and crafts. Yet when it comes to your finances, should you rely on your own knowledge, or seek the aid of a professional?
While the answer to that question may vary depending upon your income and life circumstances, most millionaires in the U.S. rely on professional financial advice, according to a recent study conducted by Fidelity Registered Investment Advisor Group. The study found that about 70 percent of the 2,500 millionaires surveyed used a financial advisor. Of the 30 percent who did not use an advisor, about half said they planned to find an advisor within a year.
“Investors turn to financial advisors for very specific reasons,” said Creg Ostler, co-managing partner of Stoker Ostler Wealth Advisors. “They have personalized goals and values, and they want to ensure that they have enough funds to accomplish those goals.”
If you are debating whether a financial advisor is right for you, Ostler offers five considerations you need to take into account:
- Major Life Events – Major life events such as retirement, sale of a business, divorce, sale of a real estate holding or switching careers all have significant impacts on your finances. A financial advisor can help you wade through the “what ifs” and plan for avenues that will enable you to reach specific financial goals like retiring early, traveling or sending children to college.
- Financial Resources – Most consumers do not have regular access to the resources that are available to professional financial advisors. Financial advising firms take advantage of full-time researchers, analysts and traders. Professional, certified advisors also undergo rigorous training in the financial arena and are considered “experts” in their fields.
- Asset Allocation – Asset allocation and diversification are central to a proper investment strategy. Putting all of your eggs into one basket could be disastrous if the sole investment tanks. Financial advisors are trained in asset allocation, or splitting investments among a variety of sources. This way, if one investment performs poorly, you have other sources of funding that you can rely upon. Asset allocation is extremely personalized, so what works for a good friend or family member may not work for you. A financial advisor can help you create a personalized plan based on your individual needs.
- Additional Services – In addition to financial planning, many investors need services such as tax planning, estate planning, retirement planning or insurance planning. Many advisors specialize in these specific areas, and seeking their advice can help you achieve long-term goals.
- The True Cost – Investors who are timid about using financial advisors are often put off by what they consider to be the high cost of professional advice. However, that cost is generally offset by potentially much higher returns on their investments.
About Stoker Ostler Wealth Advisors
Founded in 1997, Stoker Ostler Wealth Advisors, formerly Private Wealth Management, is a fee-only wealth management firm that specializes in managing investments and providing financial planning for private individuals and families, small-to-medium sized institutions and non-profit organizations with investment assets greater than $500,000. In addition, the firm provides reporting, periodic rebalancing and active tax management services for its clients.
As of May 2007, Stoker Ostler manages more than $750,000,000 in total assets. Additional areas of expertise include: retirement planning, 401(k)/IRA distribution and issues related to the death of a spouse, divorce, inheritance and stock options.
The firm’s founders, Philip Stoker and Creg Ostler, have more than 50 years of combined experience in wealth management. Stoker Ostler is employee-owned, allowing the company to steer clear of conflicts of interest that can arise when wealth managers are aligned with a product-based financial service company. Stoker Ostler’s independence, combined with the long-standing relationships cultivated with other financial professionals, allows the firm to provide successful, unbiased financial guidance, based solely on the needs and expectations of each client.
Stoker Ostler is headquartered in Scottsdale, Ariz. with and additional office Utah. For more information, call (480) 890-8088 or visit www.StokerOstler.com.
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