Many investors take to different measures in an effort to generate excess returns. Some would attempt to market time, others try to achieve superior security selection. Some would even take high risk to achieve that elusive return.

Similar situations occur when it comes to investment advisory. Advisers (and in many cases clients themselves) would attempt to achieve superior results through the above mentioned methods. As history has shown us, much of such attempts would end in failure.

Many advisers project the image that they (or the organisation they belong to) would be able help their clients with their professional and specialised knowledge.  They would be able to market time and/or provide superior security selection. It would not be reassuring if the adviser is not able to communicate the investment climate and possible outcomes confidently, would it? Acknowledging that you do not know what is going to happen would not be helpful to sales.

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