We are often asked about active versus passive wealth management approaches. One question that can be confusing is that of style drift.  What is it? How can it affect my financial planning?

It’s no secret that we’re not big fans of the active management approach, in which a financial advisor or fund manager buys and sells positions in an effort to generate extra returns.  We not only believe this is ineffective; there is also scant evidence to support the notion that trying to beat the market works any better than blind luck.

When you have questions about investment planning or wealth management, it makes sense to visit your trusted wealth advisor. After all, they have specialized education, experience and knowledge about financial matters — that's what makes them experts. 

That said, there are a few things every savvy investor should understand about financial management, even before visiting an investment professional.

When it comes to investment planning, you're encouraged to think big, to aim for the top. It's just like running a race, playing a game, or entering into a competition: Your goal should be to win... right?

It may be human nature to seek to obtain that number one position, but for investors, the concept of winning should take on a new meaning. Instead of focusing on sprinting to the finish line, a slow and steady approach may be the more rational choice.

Why is asset allocation so important to investors? A propery allocated portfolio means that your money is spread across a range of investments. But not just any combination of assets will do; rather, a truly diversified portfolio includes assets from across multiple classes, all carefully chosen to reduce exposure to risk through low correlation. 

In other words, a well-allocated portfolio achieves the right combination of risk and return for your needs. 

There's no question that the financial media — and the so-called financial "gurus" that dominate the headlines — are great at drawing attention, getting ratings, and garnering fans. But blindly following the advice of these investment professionals, or duplicating their published investment strategies, doesn't always lead to desired results. 

Is there ever a good time to imitate the financial pundits you see on TV? There's certainly a long precedent for the practice of following the advice of well-known

Are mutual funds free to invest in? This question is more common than you might think. The answer, unfortunately, is no. 

Anyone who has invested has had understandable questions such as “What are my fees?” “What are my expenses?” and “What are my investments costing me?”

It is not uncommon for investors to ask us about the alluring possibilities of active investing. They wonder if they should try to beat the market by picking "the best" stocks or by following certain money managers.  Here's why our wealth advisors would advise not to follow this tumultuous investment style.