The Fiduciary Advisor Report – The Human Factor in Financial Success | Presented by Mark K Lund, Investment Advisor, Utah County, Fee only, fiduciary, wealth management

The Human Factor in Success

During the ten days of track and field competition at the recent World Athletics Championships, athletes ran faster, jumped higher, or threw farther than ever before. In process they set three world records and ten meet records.1

So what enabled them to achieve these new levels of success?

You might guess that the athletes were simply in better shape than the last time they competed. But the actual reason is much more complex.

You do have to be in peak condition to set a world record in track and field. But that alone isn’t enough. Elite athletes reach that level by working with elite coaches, experts who take into account not only the athlete’s unique physical attributes but their mental state as well.2
If it was just a matter of getting into the best shape through the right workouts, training could be managed by sophisticated computer applications. There’d be no need to hire an expensive coach. Fitness apps are fine for regular people who just want to get into better shape. But to reach your full potential, even as an amateur, you need personalized, expert coaching.

At a certain level, simply training harder will not result in the desired gains, and instead is likely to end in injury.
The same principle holds true for being a great, life-long investor. Following a rote program or using an app to choose your allocations could be better for your retirement account than not saving at all. But it turns out that you’re more likely to achieve financial success with the help of an expert—someone like an elite coach who takes into account your attributes as a person.

Vanguard recently conducted a study where they compared the experience of self-managed investors (those who directed their own portfolios through platforms using automated “robo-advisors”) with those who worked with a human advisor.3

The study was unique in that the researchers looked not only at the performance of the investors’ portfolios, but also their emotional experience and their intent to continue down the path they were taking.

The survey found that not only did those investors who worked with an advisor feel much more supported in their efforts, but they reported expecting 5% higher returns ($160,000 on average) than those going it alone. Additionally, 88% of those managing their portfolio via robo-advisor said that they would consider switching to a human.

Things like asset allocation and investing strategy are important, but they make up only one part of an integrated financial planning and investing process. To get the other essential ingredients you need an expert who can assess your unique situation in ways an online questionnaire can’t.

Like an elite coach, your trusted advisor evaluates your risk tolerance, your timeline, and most important, your unique attributes as a person. The result is designed to deliver a personalized, long-term plan and a supportive relationship that together give you the best chance for success.

If you ever have any questions about your investments or retirement plans, please feel free to give me a call at 801-545-0696.

Regards,
Mark Lund
Stonecreek Wealth Advisors, Inc.
11576 S State Street, Bldg. 1002
Draper, UT 84020

Sources:
1. http://go.pardot.com/e/91522/ld-records-have-been-broken-n-/7rtc28/1616753254?h=LTpM9Kzs6063Z3NwZWNN6GuPd4nWMIYOtob-c2a07HY
2. http://go.pardot.com/e/91522/lite-athletes-mental-coaching-/7rtc2c/1616753254?h=LTpM9Kzs6063Z3NwZWNN6GuPd4nWMIYOtob-c2a07HY
3. http://go.pardot.com/e/91522/e-of-human-and-robo-advice-pdf/7rtc2g/1616753254?h=LTpM9Kzs6063Z3NwZWNN6GuPd4nWMIYOtob-c2a07HY

Disclosure:
This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. All economic and performance data is historical and not indicative of future results. Market indices discussed are unmanaged. Investors cannot invest in unmanaged indices. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This material was prepared by Efficient Advisors, LLC (“EA’) for Mark Lund, Mark is known as a Wealth Advisor, The 401k Advisor, Investor Coach, Financial Advisor, Financial Planner, Investment Advisor and author of The Effective Investor. Mark offers investment advisory services through Stonecreek Wealth Advisors, Inc. a fiduciary, independent, fee-only, Registered Investment Advisor firm providing investment and retirement planning for individuals and 401k consulting for small businesses. Mark’s newsletter is called The Fiduciary Report. Cities served in Utah are: Salt Lake County, Utah County, Park City, Salt Lake City, Murray, West Jordan, Sandy, Draper, South Jordan, Provo, Orem, Lehi, Highland, Alpine, American Fork. The views expressed herein are exclusively those of Efficient Advisors, LLC (‘EA’), and are not meant as investment advice and are subject to change. All charts and graphs are presented for informational and analytical purposes only. No chart or graph is intended to be used as a guide to investing. EA portfolios may contain specific securities that have been mentioned herein. EA makes no claim as to the suitability of these securities. Past performance is not a guarantee of future performance. Information contained herein is derived from sources we believe to be reliable, however, we do not represent that this information is complete or accurate and it should not be relied upon as such. All opinions expressed herein are subject to change without notice. This information is prepared for general information only. It does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this report. You should seek financial advice regarding the appropriateness of investing in any security or investment strategy discussed or recommended in this report and should understand that statements regarding future prospects may not be realized. You should note that security values may fluctuate and that each security’s price or value may rise or fall. Accordingly, investors may receive back less than originally invested. Investing in any security involves certain systematic risks including, but not limited to, market risk, interest-rate risk, inflation risk, and event risk. These risks are in addition to any unsystematic risks associated with particular investment styles or strategies.

Category: Blog, The Mark Lund Fiduciary Advisor Report

About the Author ()

Mark K. Lund is the author of The Effective Investor, a #1 Best Seller, and founder of Stonecreek Wealth Advisors, Inc. an independent, fee-only, Registered Investment Advisory firm. He has provided articles for or been quoted in: The Wall Street Journal, The Salt Lake Tribune, The Enterprise Newspaper, The Utah Business Connect Magazine, US News & World Report, and Newsmax.com, just to name a few.  Mark publishes two newsletters called, “The Mark Lund Growth Report” and “Mark Lund on Money.”  Mark provides CPE (continuing professional education) courses for CPAs.  You may also have seen him on KUTV Channel 2, or as a guest speaker at a local association or business. Mark provides investment and retirement planning services for individuals and 401(k) consulting for small businesses. In his book, The Effective Investor, Mark exposes the false narrative magazines, media, big Wall Street firms, and most advisors want you to believe. The good news is that Mark will show you that you don’t need their speculative ways of investing in order to be a successful investor. Get a free copy when you schedule your initial consultation.

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