If you make the wrong move, it could cost you a lot of money. Most financial advisors are pros at handling this kind of money safely and profitably. You have been buying mutual funds and stocks on your own, but you have no idea how the whole portfolio fits together. Asset allocation is the process of diversifying a portfolio so that you do not have too much of your money invested in a single industry or a single investment product. We learned as children not to put all of our eggs in one basket.
Most financial advisors are experts at diversifying portfolios.
You re comfortably retired and reasonably sure your money will last your lifetime. But you would like to leave something to your children and grandchildren. Estate planning is more than simply writing a will or setting up a revocable trust to avoid probate. If your assets are considerable, and you don t want to give too much to the taxman, a good financial advisor can suggest strategies that will maximize the benefit for your heirs. No matter how much you think you know about investing, most financial advisors know more.