Investment Guidance – Are Your Peers the Best Resource?
Financial acumen is increasingly recognized by business leaders, families, and institutions as a critical foundation for success. When volatility is pervasive in the capital markets, a steady, insightful approach helps to keep the focus on both short- and long-term investment objectives. Inundated with information and bombarded by worrisome headlines, it is more important than ever to make well-informed, balanced decisions.
Changing demographics in the workplace coupled with an evolving financial landscape point to the necessity of a strong foundation of financial knowledge. Whether a company is in need of fiduciary oversight for the investments in its retirement plan, a family desires assistance with wealth planning, or an institution requires investment guidance for its endowment, consulting with an RIA (Registered Investment Advisor) maximizes both time and money.
In a recent study conducted by the University of Birmingham (England) and the University of Toronto from a sample of 263 undergraduate students, researchers learned that people with low financial acumen learned more after consulting their peers with similarly low levels of knowledge. Free to openly share problems and ask questions, the sample in this unique study eventually made more well-informed decisions after talking to a friend. While talking to a friend or peer is comfortable initially, the challenges of investing and managing funds to grow and preserve wealth call for outside expertise and insight. Consulting with a trusted, outside advisor, ideally an RIA, can bring the same reassurance as a friend, with the benefit of industry insight, diverse experience, fiduciary oversight, and maximum accountability.