'Investment planning' involves putting the money to work

Freddy Garcia, vice president of Investments for Left Brain Wealth Management, says that investors who hire advisers to help manage their money need to get appropriate help picking and selecting stocks, bonds and mutual funds, rather than simply following cookie-cutter programs. Garcia says that too many investment advisers fall back on the idea that they provide 'planning,' rather than high-conviction investment selections; they play quarterback, he says, and hand the ball off on matching specific clients to ideal investments. As a result, clients who hired an adviser looking for broad financial plans -- including the development of a portfolio -- come away disappointed by returns over time.