Quora Answer: Do You Manage Your Own Investment Portfolio or Do You Have a Professional Adviser?

The following is my answer to a Quora question: “Do you manage your own investment portfolio or do you have a professional adviser?  What has worked best for you?”

I am a professional financial advisor, with all the necessary papers.  But I do not manage my own portfolio.  I have three investment portfolios, managed by three different entities.  Since this is my money, I pay attention to them, but I listen to my respective financial advisors before making a decision.

Just as a doctor cannot necessarily diagnose himself, I cannot manage my own funds professionally because there is a personal bias as an interested party.  Fund management should be done with a detached mind so that decisions can be made based on the data from the market, not emotions.  It is almost impossible to not be emotional when it comes to your own money, and that is where mistakes are made.

In the same way, when I manage funds from my clients based on their financial horizon, and goals, I am not emotionally invested in these funds.  I calculate, read reports and am detached from the money.  My sole aim to make the best decision based only on the data and projections.  There is no room for personal sentiment in investment.