Three Benefits of Financial Delegation


BY April 1, 2019

America is in the midst of a do-it-yourself (DIY) movement. Today, more and more people are looking to handle routine car maintenance or take on home improvement projects instead of outsourcing such tasks to trained professionals.  While there are some advantages to this—gaining important skills and saving money, to start—it’s not always the best way to go.

It’s the same with investments and financial planning.  With the Internet offering access to online brokerage services and up-to-the-minute financial analysis, you may think it makes sense to add investment management to your DIY to-do list. No doubt, some people may enjoy maintaining control of their financial planning.  But there are distinct benefits to becoming a financial delegator, allowing a trusted financial advisor to help you achieve your financial goals, whatever they may be, so you can live with purpose and maintain your core values.

Here are three key benefits of financial delegation:

1. Avoiding costly mistakes. While the Internet is a wealth of information, it’s not always that easy to separate good financial data from bad. You might spend hours each day trying to make sense of the market’s ups and downs—and how they might directly, and indirectly, affect your portfolio.  And, unfortunately, when you are working with flawed information or unable to keep up with the market’s latest trends, it can cost you.

“Too often, DIY financial planning results in really expensive mistakes,” says Shannon Holland, CFP®, CDFA®, AIF®, Associate Vice President of Investments at Wise River Wealth Management of Raymond James. “People react emotionally to what’s happening in the markets or don’t understand what a particular decision may mean in the long term. Those mistakes can get in the way of reaching your goals.”

2. Relying on experience. They say that nothing is certain but death and taxes – but death doesn’t come with quite as many rules and regulations.  Keeping up with the tax code—and researching how said code may impact your finances—can sometimes feel like a full-time job.  An experienced financial planner can help take the guess work out of the equation, making sure you don’t err on paying Uncle Sam more than he’s due.

“The right financial advisor can explain when and where you’ll owe taxes,” says Holland.  “That advisor can also help you ensure that any financial decisions don’t result in unnecessary taxes.”

3. Embracing your freedom.  Perhaps the most important benefit of becoming a financial delegator is that it can give you the time and reassurance to enjoy what you’ve earned during your working life:  your liberty.

“When you can partner with an advisor who can provide personalized advice to help you define and achieve your financial goals and help you overcome any challenges standing in your way, you can stop talking about enjoying your time and really start doing it,” says Holland.  “It really can make all the difference.”

Shannon Holland, CFP®, CDFA, AIF®
Certified Divorce Financial Analyst®
Accredited Investment Fiduciary®
Associate Vice President, Investments

1421 Pine Ridge Rd., Suite 300 // Naples, FL 34109
Direct: (239) 513-6513 // Fax: 239.596.5474

While we are familiar with the tax provisions of the issues presented herein, as Raymond James Financial Advisors, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
Raymond James and Associates Inc. Member New York Stock Exchange/SIPC


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