{"id":405,"date":"2013-02-27T06:54:00","date_gmt":"2013-02-27T14:54:00","guid":{"rendered":"http:\/\/staging-prblog.paladinregistry.com\/blog\/?p=405"},"modified":"2014-01-21T19:18:22","modified_gmt":"2014-01-22T03:18:22","slug":"select-an-investment-advisor-who-also-makes-decisions","status":"publish","type":"post","link":"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/","title":{"rendered":"Select an Investment Advisor Who Also Makes Decisions"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-408\" title=\"Select an Investment Advisor Who Also Makes Decisions\" alt=\"\" src=\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2013\/02\/makes-decisions1.jpg\" width=\"231\" height=\"218\" \/>Some investment advisors provide financial advice, but they require you to make the final decisions. For example, these investment advisors will recommend the purchase of a mutual fund, but you have to approve the recommendation before it is acted on. These investment advisors are also known as non-discretionary advisors or financial consultants.<\/p>\n<p>Other investment advisors will provide financial advice and make decisions without your approval in advance. For example, they conduct their research, make a decision to purchase a particular fund, and execute the transaction without any approval from you. These investment advisors are also known as discretionary advisors.<\/p>\n<p>So how are you better off? <a href=\"http:\/\/www.paladinregistry.com\/for-investors\/choosing-a-financial-planner\/\" target=\"_blank\">Should you select a non-discretionary or a discretionary advisor?<\/a><!--more--><\/p>\n<p><strong>Time &amp; Knowledge<\/strong><\/p>\n<p>Do you have the time to review investment recommendations? Do you have the requisite knowledge to know a good recommendation from a bad one? Are you readily available to make timely decisions?<\/p>\n<p><strong>Trust<\/strong><\/p>\n<p>You should have absolute trust in the advisor before you give him discretion over your assets. You trust he is a competent professional. You trust he is ethical. And, you trust he puts your interests ahead of his own, which means he must be a <a href=\"http:\/\/www.investorwatchdog.com\/blog\/5-reasons-you-want-an-advisor-who-is-an-acknowledged-financial-fiduciary\/\" target=\"_blank\">financial fiduciary<\/a>.<\/p>\n<p><strong>Accountability<\/strong><\/p>\n<p>This is the biggest issue that should impact your decision about discretion. A high percentage of\u00a0investment advisors are non-discretionary because it reduces their accountability. For example, they made a recommendation, but you approved the recommendation. Who is accountable for the results, the\u00a0investment advisor who made the recommendation or you because you approved it? You can see there is substantial wiggle room for the advisor if there is a non-discretionary relationship.<\/p>\n<p>On the other hand, if the advisor makes the recommendation, approves the recommendation, and executes the recommendation, he is clearly accountable for the outcome. On this basis you may want to select a discretionary\u00a0investment advisor.<\/p>\n<p><strong>Speedy Decisions<\/strong><strong>\u00a0<\/strong><\/p>\n<p>Timing can be everything in the securities markets. What if you are extremely busy in your career or business or you spend a lot of time traveling. A non-discretionary investment advisor may have a hard time obtaining your approval, which could cost you money. In this situation you are also better off if you select a discretionary advisor.<\/p>\n<p><strong>Performance Reports<\/strong><\/p>\n<p>Regardless of the type of\u00a0advisor you select, make sure they provide quarterly <a href=\"http:\/\/www.investorwatchdog.com\/investment-performance\" target=\"_blank\">performance reports that document your results <\/a>and transactions. You want this report even if you totally trust the advisor and you have given him discretion over your assets. This is the report card that tells you how your assets are performing. It also provides the information you need to hold your investment advisor accountable for producing competitive results. Never select an advisor who does not provide this service.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Some investment advisors provide financial advice, but they require you to make the final decisions. For example, these investment advisors will recommend the purchase of a mutual fund, but you have to approve the recommendation before it is acted on. These investment advisors are also known as non-discretionary advisors or financial consultants. Other investment advisors will provide financial advice and make decisions without your approval in advance. For example, they<\/p>\n","protected":false},"author":2,"featured_media":408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[117],"tags":[],"class_list":["post-405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retirement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Select an Investment Advisor who also Makes Decisions<\/title>\n<meta name=\"description\" content=\"Whether you choose a non-discretionary or discretionary advisor you need an investment advisor that can make decisions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Select an Investment Advisor who also Makes Decisions\" \/>\n<meta property=\"og:description\" content=\"Whether you choose a non-discretionary or discretionary advisor you need an investment advisor that can make decisions.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/\" \/>\n<meta property=\"og:site_name\" content=\"Paladin Registry Blog\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/PaladinRegistry\" \/>\n<meta property=\"article:published_time\" content=\"2013-02-27T14:54:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2014-01-22T03:18:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2013\/02\/makes-decisions1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"231\" \/>\n\t<meta property=\"og:image:height\" content=\"218\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jack Waymire\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@PaladinRegistry\" \/>\n<meta name=\"twitter:site\" content=\"@PaladinRegistry\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jack Waymire\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/\",\"url\":\"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/\",\"name\":\"Select an Investment Advisor who also Makes Decisions\",\"isPartOf\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2013\/02\/makes-decisions1.jpg\",\"datePublished\":\"2013-02-27T14:54:00+00:00\",\"dateModified\":\"2014-01-22T03:18:22+00:00\",\"author\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/4f94af521e23212d5ffd08618ecb46c0\"},\"description\":\"Whether you choose a non-discretionary or discretionary advisor you need an investment advisor that can make decisions.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/#primaryimage\",\"url\":\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2013\/02\/makes-decisions1.jpg\",\"contentUrl\":\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2013\/02\/makes-decisions1.jpg\",\"width\":\"231\",\"height\":\"218\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.paladinregistry.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Retirement\",\"item\":\"https:\/\/www.paladinregistry.com\/blog\/category\/retirement\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Select an Investment Advisor Who Also Makes Decisions\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/#website\",\"url\":\"https:\/\/www.paladinregistry.com\/blog\/\",\"name\":\"Paladin Registry Blog\",\"description\":\"Helping You Make Better Financial Decisions\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.paladinregistry.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/4f94af521e23212d5ffd08618ecb46c0\",\"name\":\"Jack Waymire\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2017\/05\/Screen-Shot-2017-05-16-at-8.06.55-AM-96x96.png\",\"contentUrl\":\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2017\/05\/Screen-Shot-2017-05-16-at-8.06.55-AM-96x96.png\",\"caption\":\"Jack Waymire\"},\"description\":\"Jack Waymire worked in the financial services industry for 28 years before he left to found the Paladin Registry (www.PaladinRegistry.com) in 2004. This investor education website was based on the Principles in Jack\u2019s first book: \\\"Who\u2019s Watching Your Money?\u00a0The 17 Paladin Principles for Selecting a Financial Advisor.\\\" Jack is also the co-author of \\\"5 Steps for Selecting the Best Financial Advisor (How the Internet has changed the game for investors and advisors)\\\". Beginning in 2004,\u00a0Paladin began vetting and documenting advisor credentials, ethics, business practices and services for investors. The Registry also has a free service that matches investors to advisors who meet Paladin\u2019s minimum requirements for competence and trustworthiness.\",\"sameAs\":[\"https:\/\/www.paladinregistry.com\",\"https:\/\/www.facebook.com\/PaladinRegistry\",\"http:\/\/www.linkedin.com\/in\/jackwaymire\",\"https:\/\/x.com\/PaladinRegistry\"],\"url\":\"https:\/\/www.paladinregistry.com\/blog\/author\/jack-waymire\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Select an Investment Advisor who also Makes Decisions","description":"Whether you choose a non-discretionary or discretionary advisor you need an investment advisor that can make decisions.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/","og_locale":"en_US","og_type":"article","og_title":"Select an Investment Advisor who also Makes Decisions","og_description":"Whether you choose a non-discretionary or discretionary advisor you need an investment advisor that can make decisions.","og_url":"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/","og_site_name":"Paladin Registry Blog","article_author":"https:\/\/www.facebook.com\/PaladinRegistry","article_published_time":"2013-02-27T14:54:00+00:00","article_modified_time":"2014-01-22T03:18:22+00:00","og_image":[{"width":231,"height":218,"url":"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2013\/02\/makes-decisions1.jpg","type":"image\/jpeg"}],"author":"Jack Waymire","twitter_card":"summary_large_image","twitter_creator":"@PaladinRegistry","twitter_site":"@PaladinRegistry","twitter_misc":{"Written by":"Jack Waymire","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/","url":"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/","name":"Select an Investment Advisor who also Makes Decisions","isPartOf":{"@id":"https:\/\/www.paladinregistry.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/#primaryimage"},"image":{"@id":"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/#primaryimage"},"thumbnailUrl":"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2013\/02\/makes-decisions1.jpg","datePublished":"2013-02-27T14:54:00+00:00","dateModified":"2014-01-22T03:18:22+00:00","author":{"@id":"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/4f94af521e23212d5ffd08618ecb46c0"},"description":"Whether you choose a non-discretionary or discretionary advisor you need an investment advisor that can make decisions.","breadcrumb":{"@id":"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/#primaryimage","url":"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2013\/02\/makes-decisions1.jpg","contentUrl":"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2013\/02\/makes-decisions1.jpg","width":"231","height":"218"},{"@type":"BreadcrumbList","@id":"https:\/\/www.paladinregistry.com\/blog\/retirement\/select-an-investment-advisor-who-also-makes-decisions\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.paladinregistry.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Retirement","item":"https:\/\/www.paladinregistry.com\/blog\/category\/retirement\/"},{"@type":"ListItem","position":3,"name":"Select an Investment Advisor Who Also Makes Decisions"}]},{"@type":"WebSite","@id":"https:\/\/www.paladinregistry.com\/blog\/#website","url":"https:\/\/www.paladinregistry.com\/blog\/","name":"Paladin Registry Blog","description":"Helping You Make Better Financial Decisions","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.paladinregistry.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/4f94af521e23212d5ffd08618ecb46c0","name":"Jack Waymire","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2017\/05\/Screen-Shot-2017-05-16-at-8.06.55-AM-96x96.png","contentUrl":"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2017\/05\/Screen-Shot-2017-05-16-at-8.06.55-AM-96x96.png","caption":"Jack Waymire"},"description":"Jack Waymire worked in the financial services industry for 28 years before he left to found the Paladin Registry (www.PaladinRegistry.com) in 2004. This investor education website was based on the Principles in Jack\u2019s first book: \"Who\u2019s Watching Your Money?\u00a0The 17 Paladin Principles for Selecting a Financial Advisor.\" Jack is also the co-author of \"5 Steps for Selecting the Best Financial Advisor (How the Internet has changed the game for investors and advisors)\". Beginning in 2004,\u00a0Paladin began vetting and documenting advisor credentials, ethics, business practices and services for investors. The Registry also has a free service that matches investors to advisors who meet Paladin\u2019s minimum requirements for competence and trustworthiness.","sameAs":["https:\/\/www.paladinregistry.com","https:\/\/www.facebook.com\/PaladinRegistry","http:\/\/www.linkedin.com\/in\/jackwaymire","https:\/\/x.com\/PaladinRegistry"],"url":"https:\/\/www.paladinregistry.com\/blog\/author\/jack-waymire\/"}]}},"_links":{"self":[{"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/posts\/405"}],"collection":[{"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/comments?post=405"}],"version-history":[{"count":8,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/posts\/405\/revisions"}],"predecessor-version":[{"id":2936,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/posts\/405\/revisions\/2936"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/media\/408"}],"wp:attachment":[{"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/media?parent=405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/categories?post=405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/tags?post=405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}