Do You Need a Financial Advisor?

“It’s the best check my wife writes every quarter.”

That’s what Professor Ken French says when asked why someone like him would need a financial advisor. French is the head of investment policy and a member of the board of directors for Dimensional Fund Advisors. He is also the Roth Family Distinguished Professor of Finance at the Tuck School of Business at Dartmouth College, and is well-known for his work on asset pricing with American economist and Nobel laureate, Eugene Fama.

“We get an enormous amount of value out of our financial advisor, and I don’t think I need help with the portfolio management part of it. It’s much more estate planning, taxes, legal issues that crop up, just sort of a quarterback.”

Why would French and Fama, two distinguished thought leaders in the financial world, strongly recommend hiring a financial advisor? An advisor can lend expertise and an impartial point of view to complex financial decisions. A financial advisor serves as a coach, an independent voice, a guardian and a listener. Even the savviest individuals find value in hiring a financial advisor to help separate the emotional from the intellectual. A strong relationship with a financial advisor can be an invaluable resource, even to those who advise others.

About Christopher Jones

Christopher Jones is the Founder and President of Sparrow Wealth Management, a fee-only financial planning and investment management firm. Before entering the investment field, Chris was a management consultant for Deloitte Monitor. He graduated summa cum laude from Brigham Young University with a B.S. in Economics and a minor in Business Management.