Yes and no.
An Advice-Only financial advisor will help you construct a diversified portfolio with an appropriate level of risk acceptable to you. When a bear market comes, when you have both stocks and fixed income, both U.S. and international, both large companies and small companies, both value and growth, your loss will be mitigated by your diversification versus when you are over-exposed to one segment of the market hit hard by the declines.
However, Advice-Only financial advisors typically don’t try to predict when the markets will have a pullback and tell you that you should make changes to your portfolio accordingly. They are not a fortune-teller. If someone says they will “watch the markets” for you, it should be a big red flag. Anyone with the true ability to predict when the markets will go up and when the markets will go down will be highly sought after by Wall Street. They wouldn’t be working as a retail financial advisor.