Month: November 2020

When you think of Financial Advisor, what do you think of?

This must be one of the greatest challenges a Financial Advisor must deal with. We are not Stock Brokers. We don’t just pick investments.

Investment selection IS one component of Financial Planning. But there are many more components.

My role as an Advisor is to help you navigate all of these components to varying degrees. Some of these components I can advise directly; others I must bring in team mates. Who works on what part is dependent upon who has what licenses.

There is a logical order to take care of these components:

• Protect the Present,
• Grow for the future
• Financial Independence
• Generational wealth.

Here are a couple of pictures that tell the same story in a few different ways.

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And the most important aspect of those three graphics? It’s not money. It’s behavior. Read here to find out why!

If you want to get started on taking care of these components, give me a shout!

A statistic within the financial services industry is that those clients who have a financial advisor for just 15 years accumulate 4 times the wealth compared to their peers who do not have the advisor.

Do financial advisors have some magic tools for picking investments then?

Would you believe that the reason has less to do with the specific advisor and more to do with the use of an advisor?

An advisor will help you document your goals so that you can focus on them. With them in plain sight, you can set targets, and determine the actions that need to be taken to reach them. With regular (financial plan) reviews, you can determine if you are on track or not. With this implicit accountability partner, you will tend to stay on track more, so you will reach your goal faster.

Another benefit to regular reviews is that you can check whether your goals have changed. Or perhaps your circumstances have. If so, then maybe the actions to take need to also change.

Can you do these on your own? Sure. But how many people do?

Contact me if you don’t already have an advisor and you would like to start your journey!