Last summer, I planted a number of Canna Australia plants on my front porch in two large pots. I watered them diligently. As the summer was extraordinarily hot, many days I watered them before work and again in the evening. As I was enjoying their progress and growth it was well worth the effort.
I was thrilled with the results. When I purchased them, the little marker said they would grow to 4 – 6 feet and a colorful flower would develop at the very top. And grow they did, as both sets seemed to be my own “Jack and the Beanstalk.” Their deep purple stalks and leaves reached well over 6 feet tall. And near the end of the summer, a few beautiful orange flowers appeared from some of the shoots of the plants. A glorious success!
This weekend, I went to purchase the same plants for the same pots. I told the “salesperson” at the gardening store about my success of last year. She asked if the plant flowered all summer, as she told me this was the real highlight of Canna Australias. “No,” I told the woman, as mine only flowered a few times toward the end of the season. She was quickly going from a salesperson to a “plant expert.” She asked a series of questions, mostly about how much sunlight the plants received.
I learned the lesson of receiving good advice from a knowledgeable expert. I thought I had done well. However, I was like many investors who think he or she has done well, but do not really know how well they have done.
Most investors do not track and monitor their performance against proper benchmarks over a long period of time. Your portfolio may have gone up, but could it have done better with the assistance of a skilled advisor?
Could an advisor have reduced your costs or minimized your taxes by selecting tax efficient stock funds?
With rebalancing, could your portfolio have done the same or better, with less risk (which is even better)?
Would you have had more money or a more successful investment experience as a result?
With good advice, I purchased the plants and placed them in my backyard over the weekend, where they will receive full sunlight. They should grow even better and orange flowers should bloom throughout the entire summer, not just in August.
This morning, thanks to a caring plant expert, the first orange flower blossomed. An expert advisor can provide many benefits.