Robert Brokamp

And how much rearranging is actually necessary?

Here to give his take is certified financial planner, Sean Gates.

Welcome back to the show, Sean.

Well, we made good to that.

So you and I have been friends and colleagues for over a decade.

So I know you're a successful investor yourself, right?

You're a fellow in your 40s.

You're a financial independent.

You only work because you want to, not because you have to.

But you've also been in the financial services industry for almost 20 years.

So how do you go about reviewing portfolios for yourself and for your clients?

When you talk about risk tolerance, we are at a point now where the market is at all time high.

The market has done very well over the last five or 10 years.

There have certainly been some speed bumps, but I think people are feeling pretty good about portfolios.

Do you take that into consideration when you talk to a client and you're like, maybe you should dial it back.

You may feel pretty good right now, but you may be feeling good because the market is doing well.

You mentioned Megan, I'll just clarify that Megan is one of our colleagues at Motley Fool Wealth Management who was our guest on last week's episode.

We had a great discussion about Ross advice gone wrong, so make sure you listen to that.

Yeah, and that quilt I think is always instructive because I call out asset allocation sort of like the hokey pokey, whereas one year one type of investment is in and the next year it's out.

Whereas a well-diversified portfolio just kind of rides along in the middle.