My wife is a financial advisor at a name you've heard of. Maybe I can translate a bit ;)
The idea with an advisor is that you create wealth targets, and use the market to optimize your saving to hit those targets. Then other stuff like college savings accounts, taxes, what happens when you die, various financial vehicles to optimize your saving while limiting your downside.
You don't really care to beat the market, because all you need is, for example, 8.5% returns to hit your wealth goals.
It's really complicated, and hard to do alone. Just by the sheer knowledge required in so many different areas.
The idea with an advisor is that you create wealth targets, and use the market to optimize your saving to hit those targets. Then other stuff like college savings accounts, taxes, what happens when you die, various financial vehicles to optimize your saving while limiting your downside.
You don't really care to beat the market, because all you need is, for example, 8.5% returns to hit your wealth goals.
It's really complicated, and hard to do alone. Just by the sheer knowledge required in so many different areas.
That's what that means - or should mean.