The Value of an Advisor | Wisdom, Wealth, and Wellness

Jonathan Satovsky
CFP®, ChFC®, CIMA®, CPWA®, CDFA®, DACFP

Good morning, good afternoon, good evening. Depending on the part of the world you’re in. This is Jonathan Satovsky of Satovsky Asset Management and on today’s episode of “Seeking Wisdom, Wealth, and Wellness,” I want to talk about an article I saw that talked about the ten hard questions that reveal why investors need advisors—why investors need a good advisor and need good stewardship.

Let’s get into it:

1. Are you able to look at the big picture by yourself?

2. Are you going through life without a plan?

3. Are you waiting for interest rates to hit a certain number? Higher or lower, 8%, or whatever it happens to be?

4. Are you spending everything you earn and more? Obviously reinforcing the importance of a budget, saving discipline, about the sustainability, and so on and so forth.

5. Do you understand the meaning of the word insider trading? Meaning, many people who aren’t in finance, might be involved in businesses or have friends involved in businesses, and might hear information about M & A, or deals that happen and might be inclined to act on incomplete information where they think they’re making a free buck at a much, much heavier expense.

6. Will your aging parents soon be your permanent house guests? Have you thought about the care that your aging parents may need? How are you going to help both financially, physically, and resource-wise?

7. Has day trading landed you with an enormous tax bill? Someone could say, “Oh, I watched the markets. I watched trends,” but meanwhile, you pay short-term capital gains that could be crushing. So it’s getting someone out of bad habits to get them stretching it for longer for their own sustainability.

8. Is constant trading preventing you from taking a vacation? Also being engaged with activities that are not enabling you to design a lifetime plug.

9. Do you have any idea how you will put your kids through college?

10. Are estate taxes something you think happens to someone else?

So ponder these things. These are just good by-lines, but it’s a good start to ponder what is the value of an advisor beyond the fact of outperforming the market. Just creating a simple, disciplined plan and working through the more important things in life, and having a partner to be able to hit you on your blind spots for a lifetime—could be valuable.

Have a great day.

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Video Recorded September 7, 2022
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Disclosures

This blog post is not intended to be, nor should it be construed or used as, an offer to sell, or a solicitation or offer to buy any securities or interests in any strategy offered by Satovsky Asset Management, LLC (“SAM”). SAM is a registered investment advisor with the Securities and Exchange Commission – for more information see www.adviserinfo.sec.gov. Please remember that different types of investments involve varying degrees of risk, and that past performance is not indicative of future results. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the strategies recommended or undertaken by SAM) will be profitable. Market index information shown herein is included to show relative market performance for the periods indicated and not as standards of comparison. The market volatility, liquidity and other characteristics of SAM’s portfolio composition are materially different from the securities listed on public market indices. Market index information was compiled from sources that SAM believes to be reliable. No representation of guarantee is made hereby with respect of the accuracy or completeness or such data. Opinions are as of date of video and are subject to change. A copy of SAM’s current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request. SAM undertakes no duty to update information presented herein.

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