As your wealth grows, so does the complexity of managing it. Balancing investments, taxes, and long-term planning can quickly become overwhelming—and even small missteps can have lasting financial consequences.
Perhaps that’s why 95% of people who work with a registered advisor say it’s worth the investment, according to a recent MagnifyMoney survey. Yet, despite the potential benefits, many choose to go it alone.
Before committing to a DIY approach, consider what expert guidance could mean for your financial future. The right advisor can help you navigate complexities, avoid costly mistakes, and ensure your money is working as hard as you are.
Quantifying the Value of Financial Advice
The impact of financial advice isn’t one-size-fits-all—it often depends on factors like your advisor’s expertise, the complexity of your financial situation, and your long-term goals. Yet a growing body of research is working to quantify the tangible and intangible benefits of sound financial planning.
For instance, research from Morningstar suggests that strategic financial planning decisions can add an estimated 1.59% per year to a retiree’s investment returns. That’s real money that compounds over time, potentially making a significant difference in long-term wealth.
Beyond the numbers, the psychological benefits of professional guidance can be just as valuable. In fact, a survey from Million Dollar Round Table found that 55% of participants who work with a financial advisor say their advisor helps ease their financial stress.
Indeed, the financial gains of expert advice can take time to materialize. However, many people experience the intangible benefits first—greater confidence in their decisions, peace of mind, and the reassurance of having a trusted partner to navigate life’s financial complexities, underscoring the true value of financial advice.
3 Key Benefits of Fiduciary Financial Guidance
A fiduciary financial advisor is legally and ethically required to put your best interests first. Unlike some financial professionals who may be swayed by sales quotas or commissions, a fiduciary offers objective, conflict-free advice designed to help you grow, protect, and optimize your wealth. Here’s how working with a trusted fiduciary can add real value to your financial life:
#1: A Fiduciary Financial Advisor Can Help You Maximize and Protect Your Wealth
Building wealth isn’t just about making smart investments—it’s also about avoiding costly missteps that could jeopardize your financial future. A fiduciary financial advisor helps protect and maximize your wealth by:
- Avoiding high-cost investments. Expense ratios, trading fees, and inefficient tax structures can quietly erode your returns over time. A fiduciary advisor strives to minimize expenses and conflicts of interest, ensuring your money works for you, not for the people overseeing your investments.
- Implementing tax-efficient strategies. Strategies like tax-loss harvesting and portfolio rebalancing help mitigate capital gains taxes and maintain an appropriate risk-reward balance, allowing you to keep more of what you earn.
- Safeguarding your legacy. From estate planning to asset protection strategies, a fiduciary helps ensure your wealth is preserved and transferred efficiently—so it serves both your current goals and future generations.
Ultimately, a fiduciary advisor isn’t just there to grow your wealth—they’re there to help protect and optimize it for the long haul.
#2: A Fiduciary Financial Advisor Can Help You Avoid Costly Mistakes
Human psychology often works against us when it comes to investing. Fear, greed, and overconfidence lead many investors to make emotional, short-sighted decisions that derail their long-term success. One of the greatest benefits of working with a fiduciary financial advisor is having a rational, objective partner who helps you stay the course—especially when emotions run high.
Consider this: Over the past 30 years (through 2023), the S&P 500 Index delivered an annualized return of 10.15%. Meanwhile, the average equity investor earned 8.01% over the same period. That gap may not seem drastic, but if you had invested $100,000 at the start, the difference would amount to over $800,000 in lost returns over three decades.
According to Dalbar, a leading market research firm, this disparity is largely due to poor market timing—investors panic and sell when the market drops, then chase returns when prices are high. This behavior locks in losses and undermines long-term wealth accumulation.
These mistakes may feel minor in the moment, but over time, they can mean the difference between financial security and falling short of your goals. A fiduciary financial advisor adds value by helping you develop a disciplined investment strategy—and more importantly, stick to it over time.
Benefit #3: A Fiduciary Financial Advisor Can Save You Time, Energy, and Stress
Beyond growing and protecting your wealth, working with a fiduciary financial advisor can also save you something just as valuable—time, mental energy, and unnecessary stress. In fact, research suggests that it can even increase overall happiness.
According to Herbers & Company’s 2021 Consumer Financial Behaviors Study, clients who work with a financial advisor report higher happiness levels than those who don’t. What’s more, happiness tends to rise alongside net worth—but only when financial decision-making is effectively managed.
That’s because the more wealth you accumulate, the more complex financial decisions become. Without expert guidance, managing investments, tax strategies, estate planning, and long-term financial goals can quickly become overwhelming.
At its core, personal financial management requires time, knowledge, and careful decision-making—all of which can take focus away from the things that matter most to you. By delegating these responsibilities to a trusted financial advisor, you gain peace of mind, freeing you to focus on your career, family, and passions.
For many people, this is the true value of financial advice—not just financial growth, but the ability to live life with less stress and greater confidence.
TrueNorth Wealth Is Here to Help
Partnering with a fiduciary financial advisor isn’t just about building wealth—it’s about protecting your financial future, avoiding costly mistakes, and gaining peace of mind. With the right guidance, you can make informed decisions that align with your long-term goals while freeing up your time to focus on what truly matters.
At TrueNorth Wealth, our team of fiduciary CFP® professionals specializes in creating personalized financial strategies tailored to your unique needs. We’ll help you grow and safeguard your wealth, manage risks, and reduce financial stress, so you can focus on living life on your terms.
TrueNorth Wealth is among the top Wealth Management firms in Utah and Idaho, with offices in Salt Lake City, Logan, St. George, and Boise. At TrueNorth Wealth, we focus on helping our clients build long-term wealth while maximizing the enjoyment they receive from their money. We do this by pairing our clients with a dedicated CFP® professional backed by an incredible team.
For our team at TrueNorth, it’s about so much more than money. It’s about serving families all across Utah and helping them achieve freedom and flexibility in their lives. To learn more or schedule a no-cost consultation, visit our website at TrueNorth Wealth or call (801) 316-1875.
