Whether someone has their own business or works as an institutional money manager for a firm, the responsibilities that go along with this job are huge. Anytime you are dealing with money, there is a lot at stake.
The financial world can be complex and scary if you don't have any idea about investments and the best way to get a return on your money. I have some knowledge of this, but still rely on the advice of a professional to get good feedback and recommendations that I am not aware of.
The financial industry constantly changes, so you must follow it regularly to know what is going on. Even if you hire someone to help you make these decision, it is still your responsibility to keep up with your money.