How a GOOD Financial Adviser can help you Retire Earlier (it's not what you think)

Like investment returns, an adviser adding value to your finances is not guaranteed. You may get back less than you pay (or invest!). But, hopefully, this video gives context to how GOOD financial planners can add considerable value over the long term.

👉🏻 Looking for help with Financial Planning?

DISCLAIMER:
This channel is for education purposes only and does not constitute financial advice. Any opinions or assessments expressed are James’ own opinions or assessments, which are not affiliated with any third party. Any representations stated as facts or views based on such facts are relevant to circumstances applicable at the time of publication. This information should never be relied solely upon to make decisions, and James accepts no liability for any investment actions undertaken by viewers. Please seek regulated financial advice or an advisor if you require assistance. The value of an investment and the income from it can go down as well as up, and investors may not get back the amount invested.

References

00:00 Intro
01:34 The Costs
02:00 The Power of Good Financial Planning
03:46 What you think it is Vs What it actually is
10:17 What is the cost of not doing this properly?
10:45 What is the definition of success
11:37 Quantifying the value of advice
12:39 Quantitative value examples
17:19 Types of people most likely to benefit
22:33 Risk Vs Reward


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The author asserts their moral right under the Copyright, Designs and Patents Act 1988 to be identified as the author of this channel and any video published on it.

[nuttawut]

Achieving success hinges on the proactive actions and steps you undertake to reach your goals. The process of building wealth necessitates cultivating positive habits, such as consistently allocating funds at regular intervals towards robust investment opportunities. Financial management, despite its critical importance, often becomes a topic avoided by many, eventually causing difficulties down the road. My sincere hope is that anyone who comes across this message is able to find success and fulfillment in life's endeavors!

[znicho]

Tricked me into watch a 25 minute long ad! Yet I stayed for the whole thing.

[micheallavelle]

1% is scandalous- only ever have a fee based advisor.

[ChrisShawUK]

I must admit I fall into the over confidence category. I trained briefly as an actuary in the early 1990s and used that background to help me do my own financial planning.

I started investing into index funds in 1998 and in 2019 i stopped work aged 51.

I've always been 'anti advisor' for one reason only ... I've never understood why i can't just pay you £X per hour to do the work.

Why does the amount of work you need to do exactly equal 1% of my portfolio?

[trazzpalmer]

I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains with months, I'm really just confused at this point.

[JamesShack]

I appreciate that this video may seem at odds with my other videos because, for the last 3 years, I've been posting videos giving you information in a way that suggests you should all Do It Yourself. A champion of DIY, which I am.

But that is also quite dangerous because the reality is that, even armed with the information my videos provide, many of my viewers would still be better off using a good financial planner.

Therefore, it is also my responsibility to make sure they are aware of services that could benefit them - and to do a good job of it!

Maybe you're not one of these people, and if that is the case, I hope this video at least helps you to understand what good financial planning outcomes look like. That it challenges you to assess whether you are fulfilling that role, and encourages you to rise to the occasion because good financial planning can be so powerful if done correctly!

[rogercohen]

Financial advisors/planners should quote an hourly fee for giving advice. Charging a percentage of someone’s “pot” is totally unfair and in many cases results in massive overcharging.

[howardsmith]

After 25 years+ of mostly managing my own investments, I switched to an advisor this year and agree with everything you said. I add that some advisors have low cost platform fees Vs some of the retail platforms that offsets part of their fee and there are some advisor only funds. It would be good to have another video about how to find a good advisor (other than yourself), my own advisor is great but I used one briefly years ago that was less so and put me off for a decade.

[peterlloyd]

This is just about one of the most defining videos because James hits the exact point about saving for retiring and retiring and what one should be thinking about.

[FRANKCHIBEX]

*Excellent !!! I really do have a question. For someone with less than $10, 000 to invest, how would you recommend we enter the crypto market? I am looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. I would greatly appreciate any suggestions*

[danielmorris]

What I'd be interested to know can I pay a financial planner for his/her time to get their advice on what to do with my not "hand over" my pot of money to them handle? So they advise me what to do but I'm the one that actually does it.

[annawong]

Your best video yet, James, THANK YOU!!! And selfishly for me, something that's been on my mind for a while now. You've just confirmed/validated my thoughts, and desire towards wanting more time as we never know how much we have left, vs. saving and investing for the future that may never be. And yes, we are indeed our own financial planners, who ultimately make our decisions based on knowledge available to us. I'm currently an accountant who is tired of long hours, tedious and meaningless work killing my soul. Would love to semi retire and do other things in life, and financial planning is key to this.

[jonathanhowson]

Congratulations on getting partner. I’m going Vangard life strategy 100% then some S&P etc, using pension and LISA then focus my efforts on my business. Talk to a financial planner 5 years before retirement, but carry on working 2-3 days a week because I love what I do.

[hooksforestchin]

The problem with planning (ignoring the historical rip offs) is that the only people who can afford it are those who are doing ok. Planning therefore becomes helping them retire sooner or finding ways to minimise their tax bill.
That's due to the cost of rhe regulation requirements (brought about by the historical rip offs) but means the people who really need the help get none. Politicians (of all sides) don't care, as they're in the group who can afford planning, plus they get nice DB pensions paid for by the rest of us, so don't really need it

[TundeMartha]

I will forever admit this channel with the help of your lesson's and ideas explanations, Now it's quite helpful while you'll just sit at your comfort and monitor your account growth

[nikki_jp]

I think a key thing is getting the right advisor /good advisor. I just wish we had spoken to a few as the guy we went with just didnt seem ro work for us. So we ended up investing on their platform and those funds did less well than our vanguard and our sessions wirh him didnt seem to give value. I think he just wasnt right for us..

[simony]

A financial planner is certainly worth it for tax advice, after the initial setup diy is best. 

Once vanguard came on the scene going with a diversified life strategy fund is the way to go and saving those fees. financial planners take their fees wether you make money or not. I don’t need an Arthur Daley type character telling me the markets turned against me with my money, sorry James but your little rant here isn’t for me.

[ricksanchez]

IFAs are for people that use a travel agent or an insurance broker.

[jimbojimbo]

The biggest issue I have are initial fees

That is properly taking the liberties

[thomasmeredith]

James I had to switch this video off half way through as you couldn't have made it any more complicated if you tried. You've clearly spent far too much time talking to Americans. Also all my working life I've been paid on results, poor or wrong results, no money. Why is it that FAs and the weather forecasters can say just as they like, right or wrong and still take their pay.