In the era of the do-it-yourself and self-management, security selection is not as simple as going to Home Depot to pick out garden plants. One needs to be objective (disinterested, even) about money in order to manage it best. Many times the investor must go out on a limb to pick the fruit, and unless a person is well trained and doing constant research he or she will not have the courage and wisdom to make quick moves to buy or sell. With new Internet services arriving, there is some expert advice to be found on the Web, but it does not have the human touch that retired clients enjoy.
Psychologists and priests know that people like to hash things out with people, not machines. Neuwirth Research, Inc., of New York reported that 72 percent of people surfing the Internet for financial advice still use a pro-fessional advisor. When money becomes a significant asset, most of us need a significant other. Like an endowment fund CFO, you can hire a financial advisor to help you strategically allocate your assets, develop an investment policy, and then monitor and review your investments in a timely fashion.
