Financial well-being is a fundamental goal. It's about protecting what means the
most to you and your family, from your income and assets, to your lifestyle—now
and in retirement. However, achieving this goal requires far more than simply
saving or investing money. That’s because the quality of the returns your portfolio
generates can make the difference between reaching your goals and falling short.
“Helping people plan for a lifetime of financial security is what we were built
for,” said TIAA Wealth Management Director, Jim Daniello, CFP®. “From top
to bottom, our approach to managing wealth is structured to ensure the right
tools, resources and disciplines are in place to help manage risk in any market
That can be especially important during periods of change and uncertainty, when
managing your investments requires even more time and expertise.
“That’s where engaging professionals who are working on your behalf every day can really make a difference,” Daniello said. “For example, over the course of the 11-year bull market, many investors weren’t aware that they may have inadvertently taken on more risk than they can handle. In many instances, the amount of risk their portfolios were exposed to was not aligned with their risk tolerance, which became evident once the extreme volatility hit in March of this year.”
Daniello says this had an emotional impact on many investors as well, causing them to move to cash at the wrong time. He believes this is, among many reasons, why investors with significant wealth can benefit from professional portfolio management.
“There's basically two paths investors can take,” he said. “You can go the self-directed path, or you can go the professionally managed path.”