10 Benefits of Working with a Financial Planner

10 Benefits of Working with a Financial Planner

April 25, 2019



Research shows that people who have financial plans – and who work with financial advisors – save and invest far more and are more likely to feel on track or ahead of schedule in preparing for major financial goals, such as retirement.(1)  Pretty good, especially in the face of regular media reports of the uncertainty of retirement and household finances.   So why don’t more people work with a planner?  Our Team


We think there are many misconceptions about financial planning and its benefits.  It is far beyond stock selection and much greater than the sum of its parts.  Why? Because a cohesive financial plan accounts for a variety of factors that go beyond your cash flow and rate of return.  Why People Work with Us


In order to eliminate these misconceptions, we compiled this list of 10 Benefits Of Working With A Financial Planner.  We hope that you will contact us so that we can help you prepare for your financial goals! 

Benefit #1. Put Your Financial House in Order.  Every effective plan starts with effective organization. In your first meeting we take a deep dive into your current finances,  evaluating cash flow and reviewing or establishing your budget and saving plan.  As the saying goes, “It’s not what you make, it’s what you keep.”  One’s savings rate is far more important than the given rate of return, and a good planner can help establish a plan that aims to increase or maintain consistent saving to work towards your goals.  Your Cash Flow Statement


Benefit #2. Identify and Set Goals: You know you need to save for the future, have an emergency fund, etc. But unless you know to what end you are going to put your money, you may never get there.  Through a collaborative process, we help you define your goals and establish a strategy for a confident retirement. Whatever your goals and needs are, we can help you gain confidence in your next steps by setting defined, manageable goals and provide perspective for a long-term plan.  Periodic check-ins and realignment of goals will keep you on track over time.  Once Upon a Goal


Benefit #3. Transparent Investment Advice Tailored to Your Needs. Far more than the simple rate of return, your investment plan should work in accordance with your financial goals, personal level for risk, and investment time horizon. All costs and fees associated with your investment vehicles should be clearly defined and explained.  And with proper allocation and diversification of assets, you should be able to work towards the goal of building and preserving wealth over the long-term.  In times of market fluctuation, a qualified financial planner will be readily accessible to answer questions and allay fears that may lead to rash decisions such as selling or buying into the market.  After all, it’s not about “timing the market”, it’s about “time in the market.” Consistent investment over time will yield the best results. Smart Investing Principles


Benefit #4. Real EstatePlanning.  Yes, your financial plan should include your real estate assets.  And a prudent planner will work with you to review your rates and provide advice on decisions such as whether that vacation home is a good idea, or you are in a position to diversify your assets through real estate.   

The Real Cost of a Vacation Home

Benefit #5. Risk Management a.k.a. Insurance.  Protecting your greatest asset -- your ability to earn income -- is an essential foundation of a sound financial plan. Proper levels of life insurance and disability insurance can ensure that your loved ones can be in a secure financial position should something happen to you or your partner.  With increasing health care costs and longer life-spans, we evaluate whether long-term care insurance is appropriate taking into consideration your age and specific circumstances.  Protecting Those Who Matter Most


Benefit #6. Estate Planning.  Do you have a will?  A trust? Are they up-to date and properly constructed?  Your advisor should work with a community of experts to ensure that your financial assets are properly protected, preserved, and distributed according to your wishes during your life and after. Proper estate planning works in concert with your financial plan and should be in tune with the latest tax laws.   Estate Management 101

Which brings us to Number 7...

Benefit #7. Tax Planning.  Do you know what triggers taxable events in your investment portfolio or your estate plan?  Unintended tax consequences can have a significant impact on your finances.   A poorly constructed (or non-existent) trust are common problems that a consumer may fall victim to if their financial and legal estates are not properly monitored by an experienced professional.  A qualified financial planner will keep tabs of potential triggering events and alert you to the need for additional advice to help avoid pitfalls or work towards solutions.  Tax Management Strategies


Benefit #8Ongoing Monitoring.  A full time professional with experience, training and planning tools can keep tabs on all aspects of your plan and alert you to recalibrate as needed.  A job change, addition to the family or new legislation are just a few things that may impact your assets and estate.  An adviser should keep abreast of these issues and raise them as needed or at your annual review.  Contact Us


Benefit #9. A Personal Resource and Sounding Board at Your Disposal. A prudent financial planner provides value as a trusted sounding board, ready to help you with issues large and small. Whether we accompany you on visit to the bank for a loan refinance; revisit your long-term goals; or simply help figure out what to do with license plates after a car sale, our purpose is to provide comprehensive planning through comprehensive solutions.  Lifestyle Coaches


Benefit #10. Financial Confidence. Perhaps the most important benefit of working with a financial planner is knowing that you are on track in working towards achieving your goals because they are clearly identified and a path is laid out before you.   What Smart Investors Know


  • Charles Schwab “How Americans Define and Manage their Wealth” June, 2017

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  

This information is not intended to be a substitute for individualized legal advice.  Please consult your legal advisor regarding your specific situation.