Do you recognize the symptoms of portfolio paralysis? If you see yourself in any of the scenarios listed below, this may be your wake-up call for finding a financial advisor to help you get back on top of your game.
Are you paralyzed by information overload?
News, information and opinion about business and investing have exploded in recent years. Newspapers, business television and the internet are valuable sources of information and opinion. But investors can overload on a steady diet of spectacular events that roils the markets. The confusion and noise has a tendency to reveal the speculations in the market but tend to obscure the investment opportunities that might exist. As a result, you sit waiting for an all clear signal.
Are you unclear about the strategic direction of your investment portfolio?
There are now many competing investment strategies and ways to achieve your financial objectives. Some carry a high-risk premium, others promise safety but modest returns. Which approach suits you and will satisfy your long-term goals? In today’s market, it’s easy to lose your perspective. When that happens, bad decisions follow.
Do you feel you don’t have the time to invest wisely?
As we get older, we discover that managing a growing investment portfolio is hard work and requires more and more of our attention. Particularly in today’s markets, identifying investment opportunities requires research and doing our homework. It often involves time we don’t have to give. So instead, your portfolio doesn’t get the attention it requires and that you deserve.
Is investing a regular source of worry?
The goal of investing isn’t to be in a constant state of surprise, fear or anguish. Such emotions shouldn’t be reasons to put your portfolio under the covers. Getting a good night’s sleep is a legitimate objective of good financial and investment planning. Intelligent investing is a process of identifying and quantifying the risks associated with an investment. In that way, we can anticipate the unexpected and turn it into a manageable situation. Worry and fear of surprise are indicators that your tolerance for risk isn’t in balance with your investments.
If any or all of the above situations sound familiar and have frozen your investment portfolio then it’s time to seek an investment advisor to help you get redirected in the market. There are few investors who feel confident to go it alone in today’s markets. Finding a financial advisor you trust will get back your perspective with a strategy that works for you in today’s markets. If you feel that you’ve been pulled over on the side of the road long enough, an advisor can help review your current state of affairs and recommend an investment road map that will get you back on the road.
Judy Poole is a financial advisor with Raymond James, and has spent the last 39 years involved in the financial industry. You can reach her at judy.poole@raymondjames.ca. This article is provided as a general source of information and should not be considered personal investment advice. The views expressed are those of the author and not necessarily those of Raymond James Ltd. Securities offered through Raymond James Ltd., member - Canadian Investor Protection Fund. Financial planning and insurance offered through Raymond James Financial Planning Ltd., not a member - Canadian Investor Protection Fund.