One of the most known criticisms with regards to obtaining financial advice is that the cost that the company has to pay for the service will undoubtedly result to a lower than optimum return on investment. Majority of the professionals who are giving financial advises might not be happy to hear that they are deemed as adding no value to a business or company. Many of the individuals who are claiming such things are most probably investors that are trying to adopt a do-it-yourself mentality or those that have no single experience when it comes to working alongside an advisor. The majority of the results on surveys conducted regarding investors that are employing financial advisors have shown that they are quite satisfied with the service they are getting.
Looking at the other side of the coin, there are many investors that are in fact looking for professional financial advisors that can assist them when it comes to planning long-term financial goals or if they want to have some distance between their money. The sad thing is that many if these are finding it hard to get top notch advice these days. It is common practice for high level financial advisors to only accept clients that have a minimum of $1 million in their assets. They might not agree with anything but they are professionals that know their true value. Majority of high level advisors are not willing to offer services to anyone in the industry because of the high costs as well as the risks that comes with business nowadays.
The truth in today’s marketplace is thin, there are investors that are not willing to pay the professional fees and there are advisors that are setting minimum threshold fees for their services. Advisors then end up serving those wealthier classes and the non-wealthy are left to hire cheap and automated services or human advisors minus the minimum requirement but may give equal or better services.
This is the reason why financial advice marketplace has become similar to any other marketplace there is. To offer the best financial advice to clients, it is important for professionals to undergo finance training and serve the wealthy and non-affluent.