13.6: Getting Help
- Page ID
- 135902
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\(\newcommand{\avec}{\mathbf a}\) \(\newcommand{\bvec}{\mathbf b}\) \(\newcommand{\cvec}{\mathbf c}\) \(\newcommand{\dvec}{\mathbf d}\) \(\newcommand{\dtil}{\widetilde{\mathbf d}}\) \(\newcommand{\evec}{\mathbf e}\) \(\newcommand{\fvec}{\mathbf f}\) \(\newcommand{\nvec}{\mathbf n}\) \(\newcommand{\pvec}{\mathbf p}\) \(\newcommand{\qvec}{\mathbf q}\) \(\newcommand{\svec}{\mathbf s}\) \(\newcommand{\tvec}{\mathbf t}\) \(\newcommand{\uvec}{\mathbf u}\) \(\newcommand{\vvec}{\mathbf v}\) \(\newcommand{\wvec}{\mathbf w}\) \(\newcommand{\xvec}{\mathbf x}\) \(\newcommand{\yvec}{\mathbf y}\) \(\newcommand{\zvec}{\mathbf z}\) \(\newcommand{\rvec}{\mathbf r}\) \(\newcommand{\mvec}{\mathbf m}\) \(\newcommand{\zerovec}{\mathbf 0}\) \(\newcommand{\onevec}{\mathbf 1}\) \(\newcommand{\real}{\mathbb R}\) \(\newcommand{\twovec}[2]{\left[\begin{array}{r}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\ctwovec}[2]{\left[\begin{array}{c}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\threevec}[3]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\cthreevec}[3]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\fourvec}[4]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\cfourvec}[4]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\fivevec}[5]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\cfivevec}[5]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\mattwo}[4]{\left[\begin{array}{rr}#1 \amp #2 \\ #3 \amp #4 \\ \end{array}\right]}\) \(\newcommand{\laspan}[1]{\text{Span}\{#1\}}\) \(\newcommand{\bcal}{\cal B}\) \(\newcommand{\ccal}{\cal C}\) \(\newcommand{\scal}{\cal S}\) \(\newcommand{\wcal}{\cal W}\) \(\newcommand{\ecal}{\cal E}\) \(\newcommand{\coords}[2]{\left\{#1\right\}_{#2}}\) \(\newcommand{\gray}[1]{\color{gray}{#1}}\) \(\newcommand{\lgray}[1]{\color{lightgray}{#1}}\) \(\newcommand{\rank}{\operatorname{rank}}\) \(\newcommand{\row}{\text{Row}}\) \(\newcommand{\col}{\text{Col}}\) \(\renewcommand{\row}{\text{Row}}\) \(\newcommand{\nul}{\text{Nul}}\) \(\newcommand{\var}{\text{Var}}\) \(\newcommand{\corr}{\text{corr}}\) \(\newcommand{\len}[1]{\left|#1\right|}\) \(\newcommand{\bbar}{\overline{\bvec}}\) \(\newcommand{\bhat}{\widehat{\bvec}}\) \(\newcommand{\bperp}{\bvec^\perp}\) \(\newcommand{\xhat}{\widehat{\xvec}}\) \(\newcommand{\vhat}{\widehat{\vvec}}\) \(\newcommand{\uhat}{\widehat{\uvec}}\) \(\newcommand{\what}{\widehat{\wvec}}\) \(\newcommand{\Sighat}{\widehat{\Sigma}}\) \(\newcommand{\lt}{<}\) \(\newcommand{\gt}{>}\) \(\newcommand{\amp}{&}\) \(\definecolor{fillinmathshade}{gray}{0.9}\)- Identify different forms of financial guidance and evaluate their alignment with investor goals.
- Distinguish between helpful and potentially harmful sources of financial advice.
- Reflect on the role of personal responsibility when seeking professional or automated.
Knowing Who to Trust
By now, Alex and Jordan both have a clearer picture of where they want to go, what kind of risks they’re comfortable with, and how their investments might support that journey. But a final, familiar question remains:
“Do I need someone to help me with this?”
The answer is classic personal finance: It depends. But let’s reframe the question. Instead of asking whether to get help, ask:
“What kind of help will keep me in control of my financial future?”
The Responsibility Always Stays With You
Even if you hire an advisor, use an app, or let someone else manage the portfolio, the responsibility always stays with you.
You are still the decision-maker.
And that’s a good thing. It means your goals, values, and constraints—not someone else’s incentives or assumptions—stay at the center of the strategy. Hiring a financial advisor does not mean handing off responsibility. Guidance is helpful, but delegating isn’t the same as disengaging.
What “Help” Looks Like
Help can take many forms:
- A human advisor, who listens, asks questions, and tailors a plan
- A robo-advisor, which uses algorithms to invest your money based on your profile
- A platform with tools and education, letting you learn and invest at your own pace
- Mentors, community, and resources that help you interpret what you’re seeing
There’s no one right choice. The right kind of help is the one that fits your needs without blinding you to the process.
A Quick Test: Who’s Really Working for You?
Here are a few questions worth asking anytime you consider professional guidance:
- Are they required to act in your best interest (fiduciary standard)?
- How are they compensated - by a flat fee, commission, or a percentage of assets?
- Do they explain things clearly, or try to make it sound too complex to question?
- Do they adjust their approach based on your IPS, or push you toward what they like?
If the answers don’t build trust, it might be time to look elsewhere.
Your Tools Are Only as Smart as Your Decisions
The financial world can sound intimidating on purpose. However, the truth is that the core ideas of investing are learnable. The best decisions are yours to make. The right kind of help is the kind that makes you more confident, not more confused. You don’t have to become an expert overnight. But you should always be an informed participant in your financial life.
Final Thought: From Idea to Action
Investing isn’t just about money; it's about shaping your future. You don’t need to be wealthy to get started. You don’t need to time the market perfectly. You just need clarity, a plan, and the courage to begin.
Start where you are. Invest what you can. Learn as you go. And always remember: You’re not alone, but you are in charge.
The final section shifts from strategy to support, helping students evaluate what kind of guidance, if any, might serve their investing journey. Whether it’s a human advisor, robo-advisor, app, or mentor, the core message remains the same: Responsibility can be shared, but never outsourced.
- Even with professional help, you remain the ultimate decision-maker.
- Advisors should be evaluated based on transparency, alignment, and clarity, not complexity or charm.
- The right kind of help empowers you; the wrong kind of help confuses or controls.
A fiduciary mindset and a strong personal strategy (like an IPS) make it easier to seek help without surrendering control.
- Have you ever followed advice (financial or otherwise) that didn’t align with your goals or values? What did you learn from the experience?
- Why is it important to ask how an advisor is paid or whether they are required to act in your best interest? What could happen if you don’t?
- Make a short checklist for evaluating financial guidance. What questions would you ask a potential advisor, platform, or service?