Investing, particularly for retirement, is the single most important and challenging financial task in one’s lifetime. Adding to this challenge is that many find the job of investing to be toilsome, confusing and downright scary at times, especially given the panic-filled noise heard in the 24/7 news cycle.
“Trying to manage the behavioral aspect of investing is the most challenging aspect of investing in a lifetime,” explains David Hone, CFA, founder of LCV Advisors in northern Chicago. “Since we as investors are human, we are, therefore, emotional and oftentimes do the wrong things at the wrong time. Emotional investing can lead even the well-intentioned astray from their important investing goals.”
Investing success starts with having clear and simple investing goals, an individualized asset mix and sticking to the plan even when the financial markets get wild, fraying investor nerves and confidence. Unfortunately, now more than ever, we are susceptible to all this noise by being bombarded by doomsday prophets who claim to have a crystal ball into the future.
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Since no one can reliably predict the next financial crises or recession, Hone believes in tuning out daily market noise as much as possible. Instead, by focusing on what can be controlled like costs, diversification and the discipline to shun the noise and stay the course, investment success can be achieved over time.
“The key to confidence is understanding your financial plan, what exactly is in your portfolio and why, as well as the cost,” says Hone. “Despite an increasingly complex financial world, we construct portfolios that are tax efficient and built to withstand constantly changing market conditions longer term. They are simple and understandable to the investor which is important for the client/advisor relationship and goals and guidelines we’ve established.”
As an independent, fiduciary, fee-only advisor and Chartered Financial Analyst (CFA), Hone adheres to rigorous ethic rules, and always recommends the best course of action for his clients from his perspective and experience. He is legally bound to make recommendations solely in the best interest of clients and does not accept any compensation tied to third-party products or services. Fees for investments are kept intentionally low and 100% transparent.
“We want investors to be able to enter retirement with the confidence in knowing that their investment plan is based on evidence and personalized goals and can withstand the eventual markets challenges that are a normal part of investing.”
LCV Advisors LLC is a registered investment adviser offering advisory services in the State of Illinois and in other jurisdictions where exempted. Registration does not imply a certain level of skill or training. The presence of this website on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by LCV Advisors in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant an applicable state exemption. All written content on this site is for information purposes only. Opinions expressed herein are solely those of LCV Advisors, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.
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