By Ted Parker via

If investors pay a travel planner to plan their vacations, why don’t they pay Registered Investment Advisors (RIAs) to plan for their retirement?

In my previous life, I worked as a RIA. I know firsthand all the challenges, and benefits, investors can face daily. I saw investors spending more time planning for their vacation than planning for their retirement. And typical investors didn’t follow a plan. They lacked discipline.

They let emotions drive their investment decisions.

Many years ago, I was the VP Regional Investment Consultant at Fidelity Investments, and covered all the retail branches west of the Mississippi. I showed financial representatives how to talk to their clients about the possible benefits of paying a fee for “discretionary asset management”.

I spoke at numerous branch-sponsored seminars attended by financial representatives and their clients. At these seminars, I discussed some of the inherent risks in global capital markets, and the long-term rewards that may come with consistent, careful investing.

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