Do You Need A Financial Advisor?

Do you actually need a financial advisor? Well, what exactly is a financial advisor? Long story short, it is someone who gives you their opinion on money and typically charges a fee or percentage to do so. They may have more or less certifications depending on who you talk to. They may focus on certain areas depending on who you talk to. Today, a good majority of financial advisors tell you their opinion with the intention to sell retail financial products and services. This means mutual funds, ETFs, stocks, bonds, annuities, and various other financial instruments created by companies to be sold to the general public. So do you need a financial advisor? My short answer? Nope. Let me explain why.

1. What is advice? The etymology of the word advice is “opinion”. Well what is an opinion? It is what someone thinks. It’s 100% subjective. The problem is that opinions are generally based on a person’s beliefs, agreements, bias, reality (which is always altered), and personal interests. There is no such thing as an objective opinion. Therefore, there is no such thing as objective advice. Everyone has an opinion and none of them are valid, except by the person expressing their own opinion. Ultimately, your opinion is the one that matters when it comes to your wealth. I don’t believe opinions are really what you want or need. You need information that you can study and make your own decision about and you need someone who makes sure the information is available and that you understand the definitions to know what the information means. You need to study, not get advice.

2. What does a financial advisor do? Well, first they share their story about why they are qualified to work with you and then probably “humble brag” on the licenses the government has given them for passing a test or a series of tests. Secondly, they will probably ask you what your biggest financial concerns are and create uncertainty about retirement, estate planning, and college planning. Next, they will ask you about your risk tolerance by doing a worksheet of some sort that inevitably increases your uncertainty and leads you into a lineup of pie charts called “asset allocation models”. These asset allocation models will serve as the “right answer” as compared to your current wrong answers. You’ll sign up, because you feel lost and they seem smart and like a nice person. Your money will get invested into these asset allocation models for a fee. Then, you will meet with them once or twice a year and they will say “we lost _____ money” or “we gained _____ money”. They’ll probably give you a summary of the stock market that you could get from a yahoo finance article. Then they’ll encourage you to stay focused on the long term. Lastly, they’ll look for other opportunities to get more of your money invested (if they’re not too timid). You may be asking, “well what’s wrong with that?” If this is truly what you want, you can do all of this between Investopedia and Vanguard. A financial advisor is something that is outdated and no longer relevant in today’s day and age. There isn’t enough value provided here to justify the fees, risks, and time involved.

3. The 1% don’t use them. That’s right. The top 1% do not hire a financial advisor. They have a CPA, an attorney, and various brokers to help them buy assets, but they don’t need or want advice. The top 1% know what they want and they use their own knowledge and skillsets to execute. They don’t need someone to say “you lost money” or “you made money”. They already know if they made or lost money. That’s how they got into the top 1%. If you won’t need a financial advisor at that level of wealth, why do you need one now? Because it was advertised to you until you believed it.

What should you do? Set goals, organize & confront your current position, create a blueprint, and then go hire your Board of Directors. The problem is, we often don’t know how to create the blueprint and we don’t know who to add to our Board of DirectorsThis slows you down from building wealth. That is why you need a Wealth Creation Coach, like myself. I ask you hard questions about your goals and current position to INCREASE your level of certainty. I then help you build the blueprint that will allow you to own your potential. Lastly, I help you build out and interview our Board of Directors with professionals who can produce and bring results to the table. My average client sees a 30% increase in income, a guaranteed increase in savings rate, and secures 8-12% fixed annual returns on their investments in the 1st 90 days of working with me. Click here to hire me as your Wealth Creation Coach.

Own Your Potential,

Jerry Fetta

Grant Cardone Certified Coach

Jerry Fetta helps his clients make money, keep it, and multiply it.

He believes everyone should own their potential. He believes you were not created to spend 40+ hours per week serving the 40-year-to-life sentence trading your precious time for money just to live in mediocrity.

However, the truth is that time and money must be exchanged. It just doesn’t need to be you making the exchange.

Jerry helps his clients create wealth that exchanges time and money on their behalf.

His clients see a 30% increase in income, a guaranteed increase in savings rate, and 8-12% fixed annual returns on their assets in the 1st 90 days of working with him.

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