You can go to the drug store and buy a tooth whitening kit, dental floss and toothpaste: all very important and useful tools in dental care.
If you go to the dentist and she does what she is trained to do with the special tools to do it, she will give you advice that looks below the surface and identify opportunities or problems well before they can’t be resolved.
When it comes to your finances, shouldn’t you trust a financial planner since he essentially does the same thing for anybody of any age in any unique situation?
“The client is getting the best of both worlds because they’re drawing from the personality and experience of a whole team of people, not just one person,” says David Dryburgh, Associate Investment Advisor with Action Financial Group, HollisWealth, a division of Industrial Alliance Securities Inc. and Insurance Advisor with Hollis Insurance in St. Thomas.
What about do-it-yourself apps and options? Are they a good idea?
“Yes, they are. They have their place and if you know exactly what you want to invest in, investing platforms serve a purpose,” says Karin Rimnyak, Investment Advisor with Action Financial Group, HollisWealth, a division of Industrial Alliance Securities Inc. and Insurance Advisor with Hollis Insurance in St. Thomas.
But there is a downside.
“Like any other self-serve tools or applications, you can only get so much (information),” says Ian Barrie, Associate Investment Advisor with Action Financial Group, HollisWealth, a division of Industrial Alliance Securities Inc. and Insurance Advisor with Hollis Insurance in St. Thomas. “Using an advisor gives you access to experience and context.”
“It’s all about meaningful interaction,” Barrie adds.
“Part of what we do is help people avoid making financial mistakes,” says Rimnyak. “I don’t think an app or a do-it-yourself platform can address that.”
As a financial planning client, Rimnyak says, “you have lots of options and should find an advisor you feel comfortable with and can trust. Someone who can develop a meaningful personal relationship with their client, and vice versa, with their best interest at heart. Regardless of all the technology out there, the human touch still is the most important piece. Who are you going to call and trust when there is a financial crisis in your family? The do it yourself online app doesn’t know you; your advisor does.”
Karin Rimnyak, is an investment advisor for HollisWealth®. Opinions expressed in this article are those of the Investment Advisor only and do not necessarily reflect those of HollisWealth®. Holliswealth® is a division of Industrial Alliance Securities Inc., a member of the Canadian Investor Protection Fund and the Investment Regulatory Organization of Canada. Insurance products provided through Hollis Insurance.
This story was created by Content Works, Postmedia’s commercial content division, on behalf Action Financial Group, HollisWealth.