Article - Top 5 Benefits of Working With a Financial Advisor

Some things are just too difficult or stressful to do on our own. Sometimes, what we need is a little boost or a jumpstart to get started on work that will ultimately improve our lives over the long term. It just takes the right motivation to energize ourselves, which is why it pays off when you’re working with a financial advisor.

For many, personal finances are like that. But that’s okay because if you know what you want to accomplish — say, a comfortable retirement — you can find help with the “how” by partnering with a competent, trusted financial advisor.

Like a nutritionist or a personal trainer, a financial advisor helps set up the right plan for you,  then monitors and motivates you so you end up with the results that you want. Working in partnership with you, and helping you achieve your financial goals, is exactly what a financial advisor does.

There are five top benefits that come from working with a financial advisor. So let’s dive in.

1. Customized Financial Planning

There is a ton of information available online, and on social media, discussing personal finance and investing. It’s all very interesting, often compelling, and it has absolutely nothing to do with you, and that’s because it’s all in the abstract and completely unrelated to you, your goals and your values.

This is where an independent financial advisor who’s taken the time to work with you, to get to know you, get to know what you want to accomplish and what’s important to you; will be able to craft a plan that takes all of these things into consideration. You don’t need irrelevant information, you need customization. You need a planning framework tailored to the outcomes that you desire, and that is what an independent financial advisor does.

Competence means that financial advisors provide the critical “know how” that drive successful long term outcomes. Things like financial planning, asset allocation, building and rebalancing investment portfolios, and knowing when and how to collaborate with your other financial professionals.

Competence leads to confidence. When you’re working with a trusted financial advisor, you gain the assurance that comes from working with someone who will help you make the right decisions with your money..

2. Expertise and Competence

Independent financial advisors, particularly Certified Financial Planner professionals, have the know how that will help you drive towards the long term successful outcomes.

Competence means that financial advisors provide the critical “know how” that drive successful long term outcomes. Things like financial planning, asset allocation, building and rebalancing investment portfolios, and knowing when and how to collaborate with your other financial professionals.

Competence leads to confidence. When you’re working with a trusted financial advisor, you gain the assurance that comes from working with someone who will help you make the right decisions with your money.

3. Discipline and Accountability

Most of the biggest mistakes people make with their money are behavioral and not financial. Do you have difficulty following through on your financial goals? An independent financial advisor can help you not only identify your goals and craft a plan to reach them, but help you stick to that plan.

It is through coaching and accountability that an independent financial advisor can help you to identify your goals and stick to the actions that will bring them to fruition. After all, what good is a financial plan if you don’t follow through?

A good independent financial advisor is a bit of a behavioral coach too. They provide education and guidance to help you stick to your plan when the markets or the economy or the news cycle has got you nervous and confused, wanting to depart from a strong, long term plan.

It’s not unusual for us to get caught up in the headlines of the News, leading sometimes to make emotional decisions, and our emotions can often lead us into areas that are counterproductive towards our long term best interest.

Investing is a complex and time consuming process. It requires a good deal of time, energy, and focus. That is not to say that it is beyond your grasp. But is that how you want to spend your time? If managing your personal finances is your passion then do it. 

4. Saving Time

Overseeing your personal finances is a complex and time consuming task. It requires a good deal of time, energy and focus. This is not to say it’s beyond your grasp, but is that how you want to spend your time?

If managing your personal finances is your passion and you’re good at it and you enjoy doing it, then do it. If not, get help. An independent financial advisor can help you do most of the heavy lifting.

You get to manage the outcome by collaborating on the planning and delegating the implementation. In return, you get back your time, time you can spend doing things you enjoy doing that give you joy. Your financial advisor can help you organize your finances in a step by step process that will help you to achieve the outcomes you desire.

5. Continuity

A financial advisor provides continuity in your financial life, further reassuring you and providing peace of mind. Having someone who knows your wishes and your goals, who can preserve your legacy, and protect those you care about adds to your own financial security and mental well-being.

You can rest assured that, no matter what happens, you have taken the right steps to make sure that the people you care about most will be taken care of.

This kind of continuity and comfort comes from working with your financial advisor to establish a financial blueprint that lays out the milestones on the path toward your best life. You and your advisor can always refer back to this blueprint to monitor the status of your progress and make any necessary changes to ensure you stay on track and on target.

These are five of the top reasons why working with an experienced, independent financial advisor can be a great benefit to you. You need someone to help you to keep your costs and your emotions under control. Working with an independent financial advisor might be just the thing for you. It’s worth it many times over you.

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