Managing your finances alone can be challenging. Discover how a consultant will work with you to create a wealth plan that helps you achieve your goals.   

Every individual has goals, and many are related to personal finances from paying for college to meeting health-care requirements and unexpected expenses until we retire. Trying to make financial decisions while managing all these goals on your own can be challenging and time-consuming. 

Making important investment decisions about finances requires attention to detail and accuracy. Investing to achieve a meaningful goal is, therefore, more challenging. Developing a well-thought-out plan that focuses on outcomes rather than the fees involved and the current performances alone can be time-consuming, and difficult to understand.   

Advisors Focus on More

Financial advisors focus on more than just asset allocation. Relationships are built on knowledge and trust which are important aspects of successfully managing portfolios. Advisors can support individuals, providing advice around tax planning, estate planning, insurance planning, and more. Investors who approach advisors for support often achieve greater outcomes than trying to invest in their knowledge.  

Although technology has an increasingly important role in investing today, we are still social beings and rely on other humans to navigate us through some of life’s critical moments. Advisors bring something to the table that technology simply can’t: kindness, empathy, and the ability to handle challenging circumstances to give clients peace of mind. 

Working with Your Financial Advisor

Googling about financial advice can only lead you so far. Working with your financial advisor can take you further. Since there are thousands of resources and no shortage of information, it’s easier to come across conflicting points of view.   

A financial advisor can help make certain the right choices are being made to suit your financial goals, such as deciding which type of registered plan is best. For example, a tax-free savings account, an education savings plan, or a retirement savings plan. As you become more comfortable with investing, your advisor can help you determine which investments can be put into those plans as well.   

Every Situation is Unique

Whether you are at the beginning of your financial journey or transitioning in your life – either through marriage or retirement, your advisor can provide the best solution for your specific scenario. A Google search bar can answer all your questions, but a financial advisor provides a detailed, step-by-step plan that can be adapted to each stage in your life. In addition to providing solutions, an advisor can also provide the background behind such decisions to help you better understand why this could be a good idea, and what it means behind your portfolio. 

Accountability and Transparency

Your financial planner gets to know your unique goals and informs you of what it would take to achieve those goals. If the markets move or you feel the need to adjust your finances, knowing you can rely on a financial planner for guidance until you make any commitments will guarantee that you don’t shift from your plan.