While diversifying investments can help reduce risk, not all risk is investment-specific. Some risk is emotional or behavioural. Did you panic during 2008 and sell all of your stocks? Or get overconfident in 2006 and take too much risk leading into the Great Recession? An advisor should counsel you through difficult times and help set expectations for your portfolio, so that you know what risks are involved and what “success” looks like on the upside.