While a stockbroker may have an insurance license and an
insurance agent may be fluent in mutual fund lingo, these areas are
too complicated and change too quickly for anyone to be an expert
in both. Think of it this way: If you broke your arm, would you
call a veterinarian? While he could probably set your limb, your
fur may never grow quite the same way. By acting as a consultant,
your financial advisor can help you reach your goals more
efficiently and with a lot fewer mistakes than a specialist.
You should be equally careful about what advice you take from
investment newsletters. While some provide substantial expert
advice, others are worth less than the paper they're written
on. Check a writer's track record before
"subscribing" to their ideas.