BENEFITS OF A FINANCIAL CONSULTANT
Discover the transformative benefits of expert financial consultation. Our seasoned consultants will help you craft a budget that not only meets your needs but exceeds your expectations. Say goodbye to financial stress and hello to a future of financial freedom. Take the first step towards a brighter financial future today.
1. Create a customized long-term strategy
Investing can involve a dizzying array of products and strategies. A financial advisor can help cut through the clutter.
- • Build a customized strategy that works with your specific goals and risk tolerance
- • Identify quality, diversified investment products
- • Receive guidance to feel informed and in control of your finances
- • Pivot your strategy as markets shift and needs change
2. Provide a holistic approach to your finances
A financial advisor considers your entire financial picture—not just a single investment or account—and can help you understand your assets achieve the maximum benefit.
- Manage investments like stocks, bonds and mutual funds
- Identify the best approach to manage and pay off debt
- Consider assets like a private business or real estate holdings
- Integrate risk tolerance and a preference for active vs. passive investing
3. Plan your retirement
The average U.S. life expectancy is 78.51, and the top financial worry for 30%2 of retirees is outliving their savings. Your investment portfolio needs to provide income for as long as you'll need it, and a financial advisor can help make sure it does.
- • Identify the type of retirement accounts best suited to your needs
- •Meet savings goals and plan your spending for all phases of retirement
- •Protect loved ones with an estate or trust or education savings plan
- •Plan for lifestyle goals like vacations and hobbies
Source:
1 World Health Organization
2 AgeWave study, "Longevity and the New Journey of Retirement"
4. Prepare for the unexpected
You can’t predict the future, but you can prepare for it. A financial advisor can help you cope with the fallout of life's unexpected events and adapt your strategy to stay on track.
- Market dips that impact your current investments
- Job loss or other career changes that impact your income
- Destruction of a home or other property damage
- Major injury or illness
5. Replace reaction with reason
During periods of market turbulence, it's easy to allow emotional reactions to drive investment decisions. An experienced third party can give you the confidence to stay the course.
- • Develop a mindset around long-term gains instead of short-term comfort
- •Create a data-driven approach that helps quell feelings of uncertainty
- •A continuous focus on risk tolerance and time horizon customized for your needs
- •Follow only the most relevant and objective online news sources
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6. Consider investment factors up ahead
Investors often have goals based on current and planned needs, but financial advisors can offer guidance around factors that you may not have considered.
- Combat rising inflation costs
- Prepare for post-retirement healthcare expenses like Medicaid
- Plan for regulations that impact taxable accounts, contribution limits, etc.
- Provide withdrawal rate guidance over the course of retirement
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7. Limit tax liabilities and penalties
As you plan your investments, a financial advisor can identify which accounts are taxable, as well as help you navigate changing tax laws and regulations—to help ensure your wealth remains yours.
- Invest in accounts with different tax treatments to diversify
- Consider taking advantage of tax-loss harvesting to maximize investments, especially in retirement
- Limit or eliminate tax penalties and various fees
- Adapt to new regulation like Secure 2.0
8. Build a long-term, trusted relationship
Building a personal relationship with a financial advisor helps the FA tailor their guidance to your specific life situation—and the value of a long-term, trusted partnership compounds over time.
- A broader understanding of your financial goals helps deliver a richer financial strategy
- Deeper knowledge of your personal situation helps forecast future needs
- Financial independence may help support your mental and emotional health
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STILL HAVE QUESTIONS?
Check out our Benefits of Finacial Consultants FAQ's:
What is the role of a financial consultant?
A financial consultant helps individuals and businesses manage their finances effectively. They offer expert advice on budgeting, investment strategies, retirement planning, and more.
How can a financial consultant help me save money?
A financial consultant can help you save money by creating a personalized budget that prioritizes savings, identifying areas where you can reduce expenses, and recommending investment strategies that maximize your savings potential.
When to use a financial advisor?
You may benefit from a financial consultant when you are ready to take control of your finances by managing, strategizing, and emplementing proven methods to strenghten your finances.
How much does it cost to hire a financial consultant?
Our financial consulting services are provided free of charge. Whether you're seeking a personalized consultation or interested in a group financial education session, there are no fees involved. Contact us today to schedule your free consultation or request a group session to enhance your financial knowledge and skills.