For most individuals, the benefits of working with a financial advisor are clear. They include better financial outcomes, time savings, and peace of mind knowing that you are working with a trusted professional. But how about the costs? Because costs can be difficult to decipher, we present a primer on the price of advice.
US economic growth and strong corporate results boosted US equities in the third quarter and Federal Reserve interest rate hikes continue to weigh on US bond markets. US-China trade tension and significant Chinese industrial sector weakness have impacted the growth of non-US economies and their equity markets. Europe has experienced the greatest slowdown among developed regions, leading to patchy performance for what was once a global synchronized growth story.
In the US, we embrace the idea that professional service providers are required to act in our best interest. We expect this behavior from our doctors and lawyers who face stiff fines or suspension for failing to abide by professional standards. In the financial services industry, it’s not that clear, and there are two legal standards.
U.S. stock indexes again hit record highs in September but sentiment and economic events led to a mixed set of results for the global markets. The markets have a lot to digest and mixed results seem appropriate considering the multi-level economic crosswinds.