While there is no way of knowing what the best portfolio is, empirical data and financial economics have fixed the problems surrounding investing. But if we’ve fixed investing, then what’s the point of financial advisors? Today we dive into this topic and reveal why financial advice is still valuable to the everyday investor. We open the episode by touching on our movies and books for the week, as well as the latest from the financial world. We then explore why, despite their failure at making predictions, experts are so important across many industries. After defining what financial advice is, co-host Benjamin Felix systematically unpacks the value that financial advisors provide as they relate to key areas including goal-setting and quantification; asset allocation; understanding your human capital and insurance needs; selecting the right financial products; and tailoring strategies to tax considerations. Later, Benjamin highlights how financial advisors can help investors overcome their biases while helping them align their investing goals with living a meaningful life. We close the episode with our Talking Sense segment, followed by the bad financial advice of the week. When so much data is available, it’s necessary to revisit the relevancy of financial advisors. Join us to hear why they continue to play such a valuable role in helping people meet their investing goals. Books From Today’s Episode: We're Talking Millions!: 12 Simple Ways To Supercharge Your Retirement on Amazon — https://amzn.to/2P1S8l2 Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future on Amazon — https://amzn.to/3vVNNR9 Values: Building a Better World for All on Amazon — https://amzn.to/2NT7Gaq Links From Today’s Episode: Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Paul A. Merriman — https://paulmerriman.com/ ‘Fed easy monetary policy means it's time for active management: Mohamed El-Erian’ — https://finance.yahoo.com/news/fed-policy-means-the-days-of-easy-returns-are-done-its-time-for-active-management-104422804.html ‘More Canadians are seeking to insure their financial wellbeing’ — https://www.wealthprofessional.ca/news/industry-news/more-canadians-are-seeking-to-insure-their-financial-wellbeing/354015 Decisive: How to Make Better Choices in Life and Work on Amazon — https://www.amazon.com/Decisive-Make-Better-Choices-Life/dp/0307956393 ‘Affective Forecasting: Knowing What to Want’ — https://journals.sagepub.com/doi/10.1111/j.0963-7214.2005.00355.x ‘Lottery winners and accident victims: is happiness relative?’ — https://pubmed.ncbi.nlm.nih.gov/690806/ ‘No Portfolio is an Island’ — https://www.cfainstitute.org/en/research/financial-analysts-journal/2015/no-portfolio-is-an-island Teeth and Titanium on Apple Podcasts — https://podcasts.apple.com/us/podcast/teeth-titanium/id1514989809