Coffee and Advisors

It’s a stimulant and stimulants are bad for you.  It’s a diuretic and as most Canadians don’t drink enough water you should skip.  Too much caffeine can make you jumpy and interferes with getting a good nights’ rest.  It feeds corporate profits and the disposal of millions of wax-coated cups is bad for the environment.
It’s full of antioxidants and they fight cancer.  Caffeine promotes a sense of well-being and reduces pain.  It’s one of life’s pleasures and going to the coffee shop is better than going to the bar.  Organically grown coffee is sustainable and fair trade coffee properly compensates small growers in emerging markets.
So which is it?  It all depends upon who you ask and more importantly, your perspective.
It’s a little bit like choosing an advisor for your financial matters.  No two are exactly alike and each has their own biases and beliefs based upon where they come from and their life’s experiences.  It’s part of the reason why it’s a good idea to interview more than one if your circumstances necessitate.
How many do you need?  Multiple, a couple or just one?  Let’s break it down.
Multiple.  It didn’t start out this way but life got in the way and things just kind of evolved. You don’t have the time or interest to change things but when you do seek help the last person that serviced your account is gone.  You often feel ignored but deep down realize that there is little incentive for any institution to invest much time in the relationship when you don’t.
A couple.  Providing you have the resources and that they perform complementary functions this can work.  Trouble is human nature tends to favour those that are getting you a higher return today at the expense of those currently underperforming.  History repeats itself and you end up zigging when you should be zagging.
One.  This actually takes much more effort than the others as you invest more time with one person who knows your financial situation, your dreams and your fears.  They don’t necessarily tell you what you want to hear but rather help you figure out what you need.
Interestingly, higher net worth investors are the most likely to have only 1 advisor.  They obviously understand economy and efficiency.
Will it be black, sweet or do you prefer tea?